Results 27,261-27,280 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Reliefs (20 Mar 2024)

Michael McGrath: Prior to Finance Act 2017, agricultural land which was leased for solar panels was not classified as qualifying agricultural property for the purposes of Capital Gains Tax retirement relief or agricultural relief from Capital Acquisitions Tax. Following a review announced in Budget 2018, and in recognition of the then Government's commitment to facilitate the development of solar energy...

Written Answers — Department of Finance: Housing Schemes (20 Mar 2024)

Michael McGrath: The Help to Buy (HTB) scheme is administered by Revenue to assist first-time buyers with buying or building a new house or apartment. The scheme gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to qualifying criteria as outlined in legislation. Section 477C of the Taxes Consolidation Act 1997 outlines the...

Written Answers — Department of Finance: Departmental Data (20 Mar 2024)

Michael McGrath: The Department of Finance and the Revenue Commissioners are continually monitoring the potential economic impact of the OECD agreement as those negotiations continue and as the agreement continues to be implemented globally. As you will be aware an initial estimate of the potential cost of implementation of both pillars of the OECD agreement in terms of reduced tax receipts was published...

Written Answers — Department of Finance: Revenue Commissioners (20 Mar 2024)

Michael McGrath: The Finance Act 2022 provided for two tax relief measures targeted at supporting the horticultural and mushroom cultivation sectors: enhancement of an existing Mineral Oil Tax (MOT) relief for certain heavy oils and liquified petroleum gas used for qualifying purposes, and the introduction of a new relief from Natural Gas Carbon Tax (NGCT) when used for similar purposes. The legislation...

Written Answers — Department of Finance: Public Private Partnerships (20 Mar 2024)

Michael McGrath: My Department does not have any planned Public Private Partnership (PPP) projects or ongoing PPP contracts. The National Treasury Management Agency (NTMA) is a body under the aegis of my Department. My Department has not sponsored any PPP projects. However, the NTMA acting as the National Development Finance Agency (NDFA), procures and delivers PPP projects where requested by State...

Written Answers — Department of Finance: Tax Code (21 Mar 2024)

Michael McGrath: The Residential Zoned Land Tax (RZLT) was introduced in Finance Act 2021 and 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 in Housing...

Written Answers — Department of Finance: Fiscal Policy (21 Mar 2024)

Michael McGrath: The NTMA inform me that the Ireland Strategic Investment Fund (ISIF) constructs its portfolio within the legislative framework set for it by the Oireachtas and will align it with any changes it makes. ISIF endeavours to be a responsible investor, actively integrating ESG factors into its decision-making processes with a view to enhancing the overall outcomes for the Fund and ultimately its...

Written Answers — Department of Finance: Official Travel (21 Mar 2024)

Michael McGrath: The response to this question is being finalised by my officials at the moment and will be shared with Deputy Toibín shortly.

Written Answers — Department of Finance: Financial Services (21 Mar 2024)

Michael McGrath: I propose to take Questions Nos. 183 and 184 together. There is a robust consumer protection framework in place in relation to mortgages and other credit agreements. This consumer protection framework provides the same protections for all consumers, regardless of the regulated entity with whom they are dealing such as a bank, a retail credit firm or a credit servicing firm. This framework...

Written Answers — Department of Finance: Tax Code (21 Mar 2024)

Michael McGrath: I understand that the Deputy is referring to “Near Neighbour Payments” made from Community Benefit Funds established by renewable energy projects supported under the Renewable Electricity Support Scheme, which are to be made on an ex-gratia basis. Where a payment is made to an individual, in circumstances where renewable energy activities are being undertaken on neighbouring...

Written Answers — Department of Finance: Tax Data (21 Mar 2024)

Michael McGrath: I am advised by Revenue that the estimated cost to the Exchequer of not proceeding with the scheduled increases in rates on Mineral Oil Tax (MOT) for petrol and auto diesel on 1 April 2024, 1 August 2024, and 9 October 2024, is shown in the following table. The yield will not accrue if these increases do not proceed as scheduled Fuel Type MOT €m VAT...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (10 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 1 and 3 together. At the outset, the Deputy should note that the Government and I are conscious of the implications of fuel costs for all sectors of society. This is reflected in the fact that in 2022, in light of the acute impact rising prices were having on households and businesses, the Government provided for excise rate reductions of 21 cent, 16 cent...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (10 Apr 2024)

Michael McGrath: The Government provided significant reductions in excise in 2022. Those reductions were absolutely warranted and justified by the circumstances at the time. There was a very significant energy price shock and the cost of a litre of fuel was between €2.10 and €2.20 at that point. The situation is volatile. The cost of a barrel of oil is fluctuating and has moved back up...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (10 Apr 2024)

Michael McGrath: The Deputy should also be honest and acknowledge what his policy is in respect of this matter. His policy, as set out at budget time, was that there would be full restoration this month. The Sinn Féin policy was, at the time of budget 2024, that petrol would go up by 8 cent, diesel by 6 cent, and marked gas oil by 3.4 cent in the month of April. The party said it would keep it under...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (10 Apr 2024)

Michael McGrath: That is what Sinn Féin said. That is what the party provided for in its alternative budget which was costed, as Deputy Doherty always says. That is what he provided for and I assume he was being honest when he was engaging with all of the petrol and diesel garage owners across the Border counties. His policy was, and presumably remains, that there should have been full restoration in...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (10 Apr 2024)

Michael McGrath: When the Government introduced the reduction in excise in the early part of 2022, prices were between €2.10 and €2.20 per litre. Every reduction comes at a cost to taxpayers generally. Well over €1 billion has been provided by way of revenue foregone by the Exchequer to fund the reduction in excise, which was always intended to be temporary. What we did was split the...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (10 Apr 2024)

Michael McGrath: I am sure that what those owners do not want to hear is the over and back between the Deputy and me. They do deserve honesty in both directions. They should know what the Sinn Féin policy was, namely that there would be an 8 cent increase in the price of petrol in the month of April and 6 cent increase in the price of diesel. They deserve to know that, despite what the Deputy might be...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (10 Apr 2024)

Michael McGrath: Deputy, you know----

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (10 Apr 2024)

Michael McGrath: You have the privilege of being in opposition and going around telling everyone everything that they want to hear.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Fuel Prices (10 Apr 2024)

Michael McGrath: You can tell them all everything they want to hear.