Results 26,741-26,760 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Departmental Legal Cases (17 Jan 2024)

Michael McGrath: The NTMA have advised me that since the end of 2018, the State Claims Agency (SCA) manages claims for legal costs on behalf of the Office of the Chief State Solicitor (OCSS). The SCA has recovered and subsequently transferred €505,367.61, arising from 4 orders, to the OCSS in the year 2021.

Written Answers — Department of Finance: Tax Code (17 Jan 2024)

Michael McGrath: I propose to take Questions Nos. 315, 329, 338, 341, 342 and 366 together. The VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, farmers can elect whether or not to register for VAT in respect of their farming business, and each farmer’s decision on this matter affects how VAT incurred on their...

Written Answers — Department of Finance: National Asset Management Agency (17 Jan 2024)

Michael McGrath: As the Deputy may be aware, NAMA does not typically own or control properties; rather NAMA owns loans for which the properties act as security. The properties securing NAMA’s loans are owned and controlled by their registered owners or appointed receivers in the case of enforcement. I wish to advise the Deputy that by virtue of Sections 99 and 202 of the NAMA Act, NAMA is legally...

Written Answers — Department of Finance: Financial Services (17 Jan 2024)

Michael McGrath: The Government is acutely aware of recent events which are impacting on mortgage interest rates and the strain these increases place on households. On 31 August 2023, I met with the mortgage industry including the Banking and Payments Federation Ireland (BPFI), CEOs and senior representatives of all the main mortgage lenders and servicers and I made it clear that banks and all other mortgage...

Written Answers — Department of Finance: Tax Credits (17 Jan 2024)

Michael McGrath: The position is that the matter of refundable tax credits was examined as part of this year’s Tax Strategy Group (TSG) process in advance of Budget 2024 and the analysis and findings of the review were published in the Income Tax TSG paper, which is available on the Department of Finance’s website at the following link:...

Written Answers — Department of Finance: Tax Yield (17 Jan 2024)

Michael McGrath: As the Deputy will be aware, the Vacant Homes Tax (VHT) 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. A residential property will be within the scope of VHT, if it has been occupied as a dwelling for less than 30 days in a chargeable period. VHT operates on a self-assessment basis, where the number...

Written Answers — Department of Finance: Tax Credits (17 Jan 2024)

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 is available in respect of qualifying payments made during the 2022 to 2025 years of assessment inclusive. Claims for the Rent Tax Credit for the 2022 tax year can only be made by completing an Income Tax Return. To date, over 260,000 PAYE taxpayers have...

Written Answers — Department of Finance: Appointments to State Boards (17 Jan 2024)

Michael McGrath: Progress has been made on efforts to convene a new Disabled Drivers Medical Board of Appeals (DDMBA), and to recommence the appeals process. I have now formally appointed all five members to the new DDMBA and appeal hearings recommenced in the first half of December 2023. I appreciate that it has taken far longer than anticipated to get to this point. With the Department of Health, Department...

Written Answers — Department of Finance: Tax Code (17 Jan 2024)

Michael McGrath: I assume the Deputy is referring to reports in the media that a particular financial institution is to make payments to the holders of offset mortgages. I understand from such media reports that the payments in question may made to the mortgage holders in the context of the removal of an offset facility which may be a feature of their existing mortgage accounts. I am advised by Revenue that...

Written Answers — Department of Finance: Departmental Consultations (17 Jan 2024)

Michael McGrath: I propose to take Questions Nos. 323 and 368 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 treat income under their General Medical Services (GMS) contract as income of a GP practice in which they are a partner or an employee, rather than income of that...

Written Answers — Department of Finance: Tax Rebates (17 Jan 2024)

Michael McGrath: I propose to take Questions Nos. 324 and 325 together. I am advised by Revenue that section 469 of the Taxes Consolidation Act 1997 (TCA 1997) provides for tax relief where an individual proves that he or she has incurred costs in respect of qualifying health expenses. Only “health expenses” incurred in the provision of “health care”, which has been carried out or...

Written Answers — Department of Finance: Departmental Policies (17 Jan 2024)

Michael McGrath: As the Deputy may be aware, for the purposes of Capital Acquisitions Tax (CAT), the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary) determines the maximum life-time tax-free threshold. This is known as the “Group threshold” below which gift or inheritance tax does...

Written Answers — Department of Finance: Vehicle Registration Tax (17 Jan 2024)

Michael McGrath: Since 8 April 2013, a person exporting a passenger car from the State may claim for repayment of a portion of the Vehicle Registration Tax (VRT). The VRT export repayment scheme was introduced under the Finance Act 2012, which inserted Section 135D into the Finance Act 1992. The scheme allows for repayment of residual VRT based upon the vehicle’s value at the time of export, subject...

Written Answers — Department of Finance: Tax Yield (17 Jan 2024)

Michael McGrath: I am advised by Revenue that the provisional Carbon Tax receipts for 2023 are €935m. Carbon Tax receipts for 2022, and previous years, are published on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statis tics/excise/receipts-volume-and-price/excise-receipts-commod ity.aspx. As the Deputy will be aware, the Minister for Public Expenditure, NDP...

Written Answers — Department of Finance: Tax Code (17 Jan 2024)

Michael McGrath: Food Vision 2030 is our shared strategy for the continuing development of the agri-food sector in Ireland, developed for the sector by the sector. Food Vision is a landmark for the Irish agri-food sector with the potential to transform our agriculture, food, forestry and marine sectors in the period to 2030, with sustainability at its core. The research and development (R&D)...

Written Answers — Department of Finance: Research and Development (17 Jan 2024)

Michael McGrath: While my Department has not commissioned research under the initiatives listed, the Deputy may be interested to note that under the Department of Finance/ESRI Joint Research Programme, the ESRI is carrying out a study on cross-border employments and it is anticipated that this work will be completed in 2024. To support development of a more ambitious agenda for cooperation and connection...

Written Answers — Department of Finance: Site Acquisitions (17 Jan 2024)

Michael McGrath: I have raised this matter with NAMA and have been advised that the appointed Receiver over this site has advanced a draft contract for sale with the Department of Education which is currently under negotiation. The site is zoned for community and education purposes, and it is understood that the Department intends providing a school campus on these lands.

Written Answers — Department of Finance: Departmental Data (17 Jan 2024)

Michael McGrath: As the Deputy will be aware, the General Data Protection Regulation (GDPR) and the Data Protection Act 2018 came into effect in May 2018 and formalised data sharing arrangements. This was subsequently supplemented by the Data Sharing and Governance Act 2019. In this context, I am informed by my Department that a schedule of the personal or person specific dataset as requested by the Deputy...

Written Answers — Department of Finance: Tax Code (17 Jan 2024)

Michael McGrath: The VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the VAT Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within Annex III of the Directive, in respect of which Member States may apply either one or two reduced rates of VAT. A small number of categories in Annex III may have a...

Written Answers — Department of Finance: Tax Reliefs (17 Jan 2024)

Michael McGrath: I am aware that Action 74 of the Joint Committee on Autism's June 2023 report proposes adoption of a needs-based approach to the Disabled Drivers and Disabled Passengers Scheme (DDS). The Department of Finance has oversight of the (DDS) only. It has no role in broader disability policy or services. The final report of the NDIS Transport Working Group's review of mobility and transport...