Results 25,721-25,740 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Financial Services (26 Sep 2023)

Michael McGrath: I have been informed by the FSPO that Section 50 of the FSPO Actsets out that the Ombudsman shall not investigate or make a decision on a complaint where the internal dispute resolution procedures required under Section 54 of the FSPO Act have not been complied with. Provision 10.9 (d) of the Central Bank of Ireland’s Consumer Protection Code 2012, provides that a regulated entity...

Written Answers — Department of Finance: Financial Services (26 Sep 2023)

Michael McGrath: I propose to take Questions Nos. 179 and 181 together. I have been informed by the FSPO that it reports to the CCPC on all complaints that it receives. The term “resolved” is not defined in the legislation to which the Deputy refers. Complaints are closed within the FSPO for a number of reasons, including that they are outside of the FSPO’s jurisdiction, because the...

Written Answers — Department of Finance: Financial Services (26 Sep 2023)

Michael McGrath: The statistic quoted by the Deputy is drawn from when a complaint was first received. The large majority of all complaints (over 80%) resolved in the FSPO are resolved within 12 months, mainly during the Registration, Assessment and Dispute Resolution (mediation) processes. However a minority of complaints are referred for a formal jurisdictional review, or for formal investigation and...

Written Answers — Department of Finance: Financial Services (26 Sep 2023)

Michael McGrath: The FSPO Alternative Dispute Resolution (ADR) Annual Activity Report 2021 reported that the FSPO “received 4,658 complaints and successfully closed 5,010 complaints including 130 (2.6%) found to be ineligible”. The FSPO’s Overview of Complaints 2021 reported that “A total of 4,658 complaints were received by the office in 2021. When 130 complaints later found to...

Written Answers — Department of Finance: Financial Services (26 Sep 2023)

Michael McGrath: I have been informed by the FSPO that when a complaint is received by the FSPO, the Registry and Assessment team of the Customer Operations and Information Management (COIM) directorate reviews and assesses it. This initial assessment provides an opportunity for the FSPO to determine if the complainant has provided all the necessary eligibility information to progress the complaint...

Written Answers — Department of Finance: Tax Code (26 Sep 2023)

Michael McGrath: As the Deputy is aware, Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances. For CAT purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. The Group A...

Written Answers — Department of Finance: Semi-State Bodies (26 Sep 2023)

Michael McGrath: Remuneration, including discretionary performance related payments, are matters for the Board of Strategic Banking Corporation of Ireland (SBCI) in accordance with its commercial mandate. The SBCI advise that discretionary performance related payments are intended to reward exceptional performance, having regard to the individual’s own performance and the overall performance of the...

Written Answers — Department of Finance: Tax Rebates (26 Sep 2023)

Michael McGrath: In general, capital gains tax (CGT) is chargeable on a gain arising on the disposal of an asset, including agricultural land, at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from CGT. Section 604B of the Taxes Consolidation Act 1997 provides relief from CGT in respect of gains arising on transactions undertaken to achieve farm...

Written Answers — Department of Finance: Defective Building Materials (26 Sep 2023)

Michael McGrath: The various statutory instruments in relation to dwellings damaged by the use of defective concrete blocks were put in place by the Minister for Housing, Local Government and Heritage, where necessary with the consent of the Minister for Public Expenditure, NDP Delivery and Reform. In relation to the valuation of property for residential mortgage lending purposes by Central Bank regulated...

Written Answers — Department of Finance: Regulatory and Poverty Impact Assessments (26 Sep 2023)

Michael McGrath: Nineteen Bills have been published since 27 June 2020 which were sponsored by the Minister for Finance. Regulatory Impact Assessments (“RIAs”) were published on the Department’s website in respect of five of those Bills. RIAs and screening RIAs were also prepared in respect of a number of the Bills, and circulated to cabinet members along with the Memorandum for...

Written Answers — Department of Finance: Rental Sector (26 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 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. Claims in respect of the 2022 year of assessment can be made by PAYE taxpayers by submitting an Income Tax return for that year. For claims relating to 2023, PAYE...

Committee on Budgetary Oversight: Pre-Budget Engagement (Resumed): Ministers for Finance and Public Expenditure, NDP Delivery and Reform (27 Sep 2023)

Michael McGrath: It is relevant to the work both of us are doing. It is relevant to the Estimates discussion the Deputy Donohoe is having with the Minister for Social Protection, Deputy Humphreys, but also with others because the work of different Ministers and Departments can have an impact on the quality of life, living standards and incomes of older people. The issue of access to services is very...

Joint Oireachtas Committee on Health: Spinal Surgery Issues at Children's University Hospital Temple Street: Children's Health Ireland (28 Sep 2023)

Michael McGrath: My question was: where did the impetus for the initial internal review come from? Dr. Goldman said that the team met and the team decided. Was it the consultants who were carrying out the procedures, was it other consultants from the multidisciplinary team or was it Dr. Goldman himself? Where did the impetus come from for the internal review?

Joint Oireachtas Committee on Health: Spinal Surgery Issues at Children's University Hospital Temple Street: Children's Health Ireland (28 Sep 2023)

Michael McGrath: I am happy to give Dr. Goldman a few minutes but only if the Chair will give me a few extra minutes.

Written Answers — Department of Finance: Tax Reliefs (28 Sep 2023)

Michael McGrath: The operation of the Local Authority Affordable Purchase Scheme(LAAP) and the First Home Scheme (FHS) are, in the first instance, primarily a matter for Minister for Housing, Local Government and Heritage. In relation to their interaction with the Help To Buy (HTB) scheme, I can confirm that there have been no changes to the HTB scheme specifically addressing any related issues. HTB, as...

Written Answers — Department of Finance: Tax Reliefs (28 Sep 2023)

Michael McGrath: Help to Buy (HTB) is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive offers a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in Section 477C of the Taxes Consolidation Act 1997. An increase in the supply of new housing...

Written Answers — Department of Finance: Tax Reliefs (28 Sep 2023)

Michael McGrath: The below table sets out current tax relief or incentives which can be claimed for the first time relating to the purchase, rental or renovation of property for residential use, the date of introduction, if a review was carried out, and details of the most recent such reviews. Name of Relief Start Date Cost Benefit Analysis/Review Y/N Cost Benefit...

Written Answers — Department of Finance: Primary Medical Certificates (3 Oct 2023)

Michael McGrath: Progress has been made on efforts to convene a new Disabled Drivers Medical Board of Appeals (DDMBA), to secure hosting arrangements for the DDMBA and to recommence the appeals process. I have now formally appointed all five members to the new DDMBA. Funding arrangements between the Department of Finance and the Department of Health have been agreed. On this basis the National Rehabilitation...

Written Answers — Department of Finance: Tax Code (3 Oct 2023)

Michael McGrath: It is assumed the Deputy is referring to Capital Acquisitions Tax and the Group A threshold. For Capital Acquisitions Tax (CAT) purposes, the relationship between the person giving a gift or inheritance (i.e. the disponer) and the person who receives it (i.e. the beneficiary) determines the maximum amount, known as the “Group threshold”, below which CAT does not arise. The Group...

Written Answers — Department of Finance: Tax Code (3 Oct 2023)

Michael McGrath: I am advised by Revenue that VAT arrangements are subject to EU VAT law, with which Irish VAT law must comply. EU VAT law, including the VAT Directive, provides a framework of rules and principles that Member States are obliged to observe. In certain circumstances, it is possible for a Member State to maintain historic national arrangements, but only provided these are not expanded. The...