Results 25,641-25,660 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Code (20 Sep 2023)

Michael McGrath: The Residential Zoned Land Tax (RZLT) is a new tax introduced in Finance Act 2021 which seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for housing. The tax is an action contained...

Written Answers — Department of Finance: Vehicle Registration Tax (20 Sep 2023)

Michael McGrath: I propose to take Questions Nos. 179 and 180 together. The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme (DDS) is legislated for under Statutory Instrument No. 353 of 1994(SI.353/1994) and provides relief from Vehicle Registration Tax and VAT on the use of an adapted vehicle, as well as an exemption from motor tax and an annual fuel grant. I am advised by Revenue that...

Written Answers — Department of Finance: Tax Yield (20 Sep 2023)

Michael McGrath: As the Deputy is aware, the Vacant Homes Tax is a new measure announced in Budget 2023, which aims to increase the supply of homes for rent or purchase to meet demand. Legislative provision for the tax was made in the Finance Act 2022. The first chargeable period commenced on 1 November 2022. The first self-assessed returns are due on 7 November this year and the tax will be payable on 1...

Written Answers — Department of Finance: Tax Data (20 Sep 2023)

Michael McGrath: The estimated cost of extending the reduced rate of VAT to electricity and gas to end-December 2023 is €57.4m (€40.6m for electricity and €16.9m for gas).

Written Answers — Department of Finance: Tax Reliefs (20 Sep 2023)

Michael McGrath: Decisions regarding tax incentives and reliefs, whether in respect of the introduction of new measures or the amendment of existing measures, are normally made in the context of the annual Budget and Finance Bill process. Such decisions must have regard to the sound management of the public finances and my Department's Tax Expenditure Guidelines. Tax reliefs, no matter how worthwhile in...

Written Answers — Department of Finance: Tax Reliefs (20 Sep 2023)

Michael McGrath: I am advised by Revenue that the number of taxpayer units who availed of tax relief on health expenses incurred is included in the ‘Cost of Tax Expenditures’ publication which is available on the Revenue website at www.revenue.ie/en/corporate/documents/statistics/tax-expendi tures/costs-tax-expenditures.pdf For the Deputy’s convenience, the below table breaks down the...

Written Answers — Department of Finance: Departmental Bodies (21 Sep 2023)

Michael McGrath: The bodies under the aegis of my Department have provided the requested information in the attached document. State Body Year Amount of taxable benefit paid Details 2019 €70.19 Benefit in Kind paid on use of taxis 2020 €9.88 Benefit in Kind paid on use of taxis ...

Written Answers — Department of Finance: Defective Building Materials (21 Sep 2023)

Michael McGrath: At the outset, it is important to state that neither I, as Minister for Finance, nor the Central Bank of Ireland can direct the pricing nor provision of insurance products. This is a commercial matter which individual companies assess on a case-by-case basis. This is due to the EU Single Market framework for insurance (the Solvency II Directive) which specifically prohibits Member States from...

Written Answers — Department of Finance: Equality Proofing (21 Sep 2023)

Michael McGrath: The 2020 Programme for Government, “Our Shared Future”, contains a commitment to “Expand the Equality Budgeting Programme across government departments and agencies.” Work has already been done to mainstream the approach to equality budgeting across Government, led by the Department of Public Expenditure, NDP Delivery and Reform and the Department of Children,...

Written Answers — Department of Finance: Tax Credits (21 Sep 2023)

Michael McGrath: The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by Finance Act 2022. This is an income tax credit of up to €500 per year (or up to €1,000 for jointly assessed couples) which may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. The purpose behind the rent tax credit,...

Written Answers — Department of Finance: Business Regulation (21 Sep 2023)

Michael McGrath: The Deputies will be aware that the Retail Banking Review, which was published in November 2022, contained a key recommendation for the Department to lead the development of a National Payments Strategy (NPS) to be completed in 2024. Acceptance of cash is an area of focus for the NPS.  The Terms of Reference sets out that the Strategy should examine whether there should be a...

Written Answers — Department of Finance: Tax Collection (21 Sep 2023)

Michael McGrath: I am advised by Revenue that Section 121 of the Taxes Consolidation Act (TCA) 1997 provides that where a car is made available for the private use of an employee then the employee is chargeable to benefit in kind tax (BIK). If an individual has, by reason of his or her employment, a car available for his or her private use, a taxable BIK arises, even if the person providing the car is...

Written Answers — Department of Finance: Tax Yield (21 Sep 2023)

Michael McGrath: The cap on market revenues will be collected by the Commission on Regulation of Utilities (CRU).  The proceeds from the cap on market revenues will be retained and used in the electricity sector to lower prices for consumers. As such, this measure will not increase Exchequer revenue. At the time of the Stability Programme Update (SPU) 2023 the temporary solidarity...

Written Answers — Department of Finance: Tax Data (21 Sep 2023)

Michael McGrath: I am advised by Revenue that the estimated costs of reducing the levels of excise applied to home heating oil from €122.83 to €100, €72.83, €60 and €0.00, from 12 October 2023 to end-December 2023, and from 1 January 2024 to end-March 2024, are shown in the following table. Proposed Rates Year MOT €m VAT €m ...

Written Answers — Department of Finance: Primary Medical Certificates (21 Sep 2023)

Michael McGrath: The final report of the National Disability Inclusion Strategy (NDIS) Transport Working Group's review of mobility and transport supports including the Disabled Drivers and Disabled Passengers Scheme (DDS), endorsed proposals for a modern vehicle adaptation scheme in line with international best practice that would replace the DDS, as it is no longer fit-for-purpose on any and all...

Reversal of Planned Fuel Price Increases: Motion [Private Members] (26 Sep 2023)

Michael McGrath: I thank Deputy Doherty and his colleagues for putting down this motion and for affording me an opportunity to further respond on behalf of the Government. I know the Minister of State, Deputy Chambers, spoke earlier. I will set out our position on this issue. I believe that budget day is the appropriate time for the Government to set out its overall response to the cost-of-living pressures...

Reversal of Planned Fuel Price Increases: Motion [Private Members] (26 Sep 2023)

Michael McGrath: That is not the position which others in opposition take. They say they support it in principle but they are always against the next increase. This means, when you add it all up, that in effect those persons are against the carbon tax. Much lip service is being paid on that issue. The Government has to respond to the total picture and that is what we will do on budget day. We are engaged...

Reversal of Planned Fuel Price Increases: Motion [Private Members] (26 Sep 2023)

Michael McGrath: Sinn Féin supported it.