Results 25,501-25,520 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Departmental Policies (6 Jul 2023)

Michael McGrath: As the Deputy will be aware, following a Government decision taken in November 2021 that a levy be imposed on the construction sector to contribute towards the cost of the Mica Redress Scheme, the Defective Concrete Products Levy was announced as part of Budget 2023. The levy will apply at a rate of 5% and it will come into effect on 1 September 2023. The levy will only apply to pouring...

Written Answers — Department of Finance: Tax Data (6 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 191 and 192 together. I am advised by Revenue that Revenue estimates are based on taxpayer units, where taxpayers in a marriage or civil partnership who elect to be jointly assessed are counted as one unit. These estimates encompass all taxpayer types, such as those in employment, self-employed, or in receipt of taxable income from other sources. Due to the...

Written Answers — Department of Finance: Tax Credits (6 Jul 2023)

Michael McGrath: I am advised by Revenue that an estimated 67,000 taxpayer units will benefit in 2023 from the Budget 2023 measure to increase to the Home Carer Tax Credit from €1,600 to €1,700.

Written Answers — Department of Finance: Tax Credits (6 Jul 2023)

Michael McGrath: I am informed by Revenue that the number of taxpayer units claiming the Earned Income Tax Credit and the Exchequer cost for the years 2016 – 2020, the latest year for which data are readily available, are as follows: Year 2020 2019 2018 2017 2016 No. of Taxpayer Units 208,100 241,700 227,900...

Written Answers — Department of Finance: Tax Credits (6 Jul 2023)

Michael McGrath: The age tax credit was last increased in Budget 2008 from €275 to €325 for single persons and from €550 to €650 for married couples or civil partnership. As part of the suite of measures to deliver fiscal consolidation in Budget 2011, the age tax credit was reduced from €325 to €245 for single persons and from €650 to €490 for married...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: As the Deputy is aware, arising from a November 2021 Government decision that a levy be imposed on the construction sector to contribute towards the cost of the Mica Redress Scheme, the Defective Concrete Products Levy was announced in the Budget 2023 speech. As part of the work undertaken on the impact that the levy could have on the construction sector the Department of Housing, Local...

Written Answers — Department of Finance: Tax Reliefs (11 Jul 2023)

Michael McGrath: Council Directive 92/83/EEC, also known as the “Alcohol Structures Directive”, lays down a harmonised approach for the application of excise duties on alcohol and alcoholic beverages in the EU. It sets out the categories of alcohol and alcoholic beverages that fall within scope of taxation and the basis on which excise duties on such products are to be established. This...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: Under the EU VAT Directive, with which Irish VAT legislation must comply, it is not possible to apply a VAT exemption to the construction of new buildings, including those at the Near Zero Energy Buildings (NZEB) Standard.

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 190 and 194 together. The Rent a Room scheme was introduced in Finance Act 2001 as an incentive to encourage individuals to let rooms in their principal private residence as residential accommodation in order to bring about an increase in the availability of rental accommodation. In accordance with section 216A of the Taxes Consolidation Act 1997, an...

Written Answers — Department of Finance: Departmental Staff (11 Jul 2023)

Michael McGrath: I wish to advise the Deputy that the list of special advisers to the Minister and Minister of State are; Minister for Finance; Grant Sweetman and Kevin Barrett Minister of State; Stephen Foley Queries for Special Advisers may be addressed to pressoffice@finance.gov.ie and 01 6045875 A list of Special Advisers to the 33rdDáil, is published on the gov.ie website.

Written Answers — Department of Finance: Departmental Data (11 Jul 2023)

Michael McGrath: Ireland has no bilateral loans with the UK. By 26 March 2021, Ireland repaid, on schedule and in full, the bilateral loan with the UK which was linked to the EU/IMF programme of financial assistance. Ireland borrowed a total of £3.23 billion pounds from the UK under this bilateral loan agreement. The loan was disbursed in eight equal tranches of £403 million pounds over the period...

Written Answers — Department of Finance: Departmental Data (11 Jul 2023)

Michael McGrath: Ireland has no bilateral loans with other states in the EU or outside EU. In the past ten years, Ireland has repaid three bilateral loans. The Irish financial assistance programme, which ran from 2010 to 2013, included bilateral loans from Sweden of €0.6 billion, from Denmark €0.4 billion and, from the United Kingdom, €3.8 billion. On 20 December 2017, the NTMA...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: Under the EU VAT Directive, with which Irish VAT legislation must comply, it is not possible to provide a VAT rebate on tools, materials and electricity for all Mens Sheds.

Written Answers — Department of Finance: Financial Services (11 Jul 2023)

Michael McGrath: The Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of their statutory functions. As Minster for Finance, I do not have a role in the day-to-day workings of the FSPO’s office and I am not involved in the investigation or decision-making processes of the FSPO. The Financial Services and Pensions Ombudsman (FSPO) is the statutory body established to...

Written Answers — Department of Finance: Departmental Policies (11 Jul 2023)

Michael McGrath: The Department of the Taoiseach has convened a Senior Officials Group to discuss progression of the proposals of the NDIS TWG final report. A first meeting was held on 3rd July 2023. My officials will engage and actively contribute to discussions. However, it will be a matter for the SOG and for Government to determine any timelines or next steps as may be decided. As background, the...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: The position is that the age exemption applies for any year of assessment where an individual is aged 65 years or over and his or her total income does not exceed €18,000 per annum. Where an individual is a married person or civil partner and is jointly assessed to tax, the age exemption will apply where either individual is aged 65 or over and where the couple’s total income...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: As the Deputy will be aware, the Tax Strategy Group (TSG) is in place since the early 1990s and is chaired by the Department of Finance with membership comprising senior officials and political advisers from a number of Civil Service Departments and Offices. Papers on various options for tax policy changes are prepared annually by Department of Finance officials. The TSG is not a decision...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: I am advised by Revenue that the tax treatment in the scenarios presented depends on a number of factors, including:the employment status of the individual;the nature of the benefit received; and the circumstances under which the benefit is given. Employer provided car Section 121 of the Taxes Consolidation Act (TCA) 1997 provides that where a car is made available for the private use of an...

Written Answers — Department of Finance: Departmental Reports (11 Jul 2023)

Michael McGrath: The report referred to in the question is already in the public domain having been released under a freedom of information request to the Department of Finance in 2013. The FOI records from 2014 onwards are available on the Gov.ie site but the records for 2013 are archived. The record in question has been requested and when available will be shared with Deputy Farrell.