Results 25,941-25,960 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Credits (18 Oct 2023)

Michael McGrath: The Irish tax code provides for a wide range of tax credits, reliefs and allowances for individuals who are carers or have care responsibilities. Eligibility for these tax credits, reliefs and allowances is based on the conditions and criteria attached to each individual measure and the claimant’s personal circumstances. It is also important to note that Revenue pro-actively...

Written Answers — Department of Finance: Departmental Legal Cases (18 Oct 2023)

Michael McGrath: It is not possible to provide this information requested in the time available because the Minister for Finance is named as a party on a large number of proceedings which seek damages from the State, without being directly involved in the running of the litigation in circumstances where another Minister may take the leading role in respect of providing instructions on the issue. We do not...

Written Answers — Department of Finance: Budget 2024 (18 Oct 2023)

Michael McGrath: As the Deputy will be aware, this Government is acutely conscious of the impact of rising interest rates and mortgage costs on many taxpayers. It is for this reason, I introduced a temporary one-year, targeted form of mortgage interest tax relief as part of Budget 2024. Mortgage interest tax relief will be available to taxpayers in respect of their principal private residence in the...

Written Answers — Department of Finance: Revenue Commissioners (18 Oct 2023)

Michael McGrath: I am advised by Revenue that the changing demands of taxpayers and the need to provide an efficient and cost-effective service has resulted in the overall mix and nature of its service channels evolving. To that end, Revenue provides a full range of online services for taxpayers to manage their tax affairs, including an online communications channel through the MyEnquiriessystem, which are...

Written Answers — Department of Finance: Tax Code (18 Oct 2023)

Michael McGrath: I propose to take Questions Nos. 106 and 107 together. My Department and Revenue have, for some time, been aware of issues arising from contractual arrangements within the General Practitioner (GP) community whereby some GPs assign income under their General Medical Services (GMS) contract to a GP practice in which they are a partner or an employee. The income is then treated by the...

Written Answers — Department of Finance: Insurance Coverage (18 Oct 2023)

Michael McGrath: As the Deputy is aware, neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products. This is set out in the EU framework for insurance – the Solvency IIDirective – and limits the actions that Government can take in relation to insurance for thatched properties. Nevertheless, I can assure the Deputy that this Government is committed...

Written Answers — Department of Finance: Climate Action Plan (18 Oct 2023)

Michael McGrath: In the Summer Economic Statement 2023 it was announced €2¼ billion in windfall tax receipts would be made available to support the delivery of infrastructure projects over the period 2024 to 2026, as well as to make a contribution to the Climate Action Fund for nature restoration. This approach makes use of these potentially transient revenues to build long-lasting improvements to...

Written Answers — Department of Finance: Climate Action Plan (18 Oct 2023)

Michael McGrath: I understand that the Deputy is referring to the Infrastructure, Climate and Nature Fund, which I announced on Budget day. The Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill will establish this fund. The Bill is included on the list of bills for publication in the Government’s autumn legislation programme. Following Government approval on 10 October, the...

Written Answers — Department of Finance: Tax Code (18 Oct 2023)

Michael McGrath: An employer may provide up to two small benefits, with a combined value of both provided benefits not exceeding €1,000 in a year of assessment, which will be exempt from Income Tax, PRSI and USC, provided all of the conditions contained within section 112B of the Taxes Consolidation Act 1997 are satisfied. This relief is commonly referred to as the “Small Benefit...

Written Answers — Department of Finance: Credit Register (18 Oct 2023)

Michael McGrath: The Central Credit Register is established by the Central Bank under the Credit Reporting Act 2013 (the Act). Under the Act credit information providers are required to provide factual information in relation to loans and loan applications, which is then used to provide credit reports to borrowers and lenders. The Deputy may wish to note that the Central Credit Register does not produce...

Written Answers — Department of Finance: Departmental Strategies (18 Oct 2023)

Michael McGrath: I published the terms of reference for the National Payment Strategy (NPS) on 27 June 2023. Since then a team in my Department has commenced this work. The Strategy will take account of the changing payment landscape and will consider ongoing legislative developments at EU level, including proposals on instant payments, payment services, legal tender and the Digital Euro. It will be...

Written Answers — Department of Finance: Departmental Data (18 Oct 2023)

Michael McGrath: The Central Bank of Ireland publishes quarterly statistics on mortgages. The most recent publication was on 15 September last and provides mortgage statistics for the second quarter of 2023. These statistical releases are publicly available on the Central Bank of Ireland webpage. According to the Central Bank data, the total number of Principal Dwelling Household (PDH) and Buy to Let (BTL)...

Written Answers — Department of Finance: Tax Code (18 Oct 2023)

Michael McGrath: I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods and services on their VAT returns. Therefore, it is not possible, using information provided in VAT returns, to identify the number of AEDs purchased since the change in VAT rate or the price paid by consumers for them.

Written Answers — Department of Finance: Budget 2024 (18 Oct 2023)

Michael McGrath: The Deputy should note that no decision was made in Budget 2024 to reduce the VAT rate on print maps or electronic maps to 0%. As the Deputy may be aware, the temporary VAT rate of 9% introduced in July 2011 and again in November 2020 for the tourism and hospitality sectors included certain printed matter such as brochures, maps, and programmes. Consequently, when this VAT rate reverted to...

Written Answers — Department of Finance: Budget 2024 (18 Oct 2023)

Michael McGrath: Budget 2024 provided for a total net Budget package of around €14 billion, consisting of a €6.4 billion core budgetary package of which c. €5.3 billion is allocated to public spending and c. €1.1 billion for taxation measures. Complementing this is a set of once-off measures to assist households and businesses with the cost of living, amounting to €2.7...

Written Answers — Department of Finance: National Vehicle and Driver File (19 Oct 2023)

Michael McGrath: Under the Finance Act 1992, Vehicle Registration Tax (VRT) is assessed on a vehicle at the time of its registration, and the way the tax is computed depends on the category of vehicle involved. VRT on Category A vehicles (generally passenger vehicles) is assessed based on the value of the vehicle and its emissions levels for carbon dioxide (CO2) and nitrogen oxide (NOx). The VRT on...

Written Answers — Department of Finance: Tax Code (19 Oct 2023)

Michael McGrath: As the Deputy will be aware, taxes on capital including CGT ensure that taxation is not focused solely on income and that those who benefit from gains in the value of their assets are included within the tax net on an equitable basis. It is important that burden of taxation is shared appropriately across the range of different taxes. While preparing this year’s Budget a range of...

Written Answers — Department of Finance: Housing Schemes (19 Oct 2023)

Michael McGrath: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can intervene in the provision or pricing of insurance products, nor can we compel any insurer operating in the Irish market to provide cover to specific individuals or businesses. This position is reinforced by the EU framework for insurance companies (the Solvency II Directive). As the Deputy will...

Written Answers — Department of Finance: State Claims Agency (19 Oct 2023)

Michael McGrath: The matters that the Deputy is referring to are appropriate to my colleague Mr. Stephen Donnelly TD Minister for Health. As regards the role of the State Claims Agency (SCA) I should say that across all the Departments and the many related bodies and agencies that the SCA is delegated to handle cases for, the relevant Minister with the policy responsibility for the area in which cases...

Finance (No. 2) Bill 2023: Second Stage (24 Oct 2023)

Michael McGrath: I move: "That the Bill be now read a Second Time." We are here to start our consideration of the Finance (No. 2) Bill 2023, which will give the necessary legal basis to the decisions announced in the budget and make a number of other necessary changes to tax legislation. I will begin by outlining the aims of the Bill and move on to highlighting certain key measures before discussing the...