Results 3,081-3,100 of 12,631 for speaker:Willie O'Dea

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: As the Senators will be aware the Tánaiste and Minister for Finance announced the establishment of the Commission on Taxation on 14 February. The work of the commission will help establish the framework within which tax policy will be set for the next decade at least. It is important for the commission to take a strategic, considered and balanced perspective that recognises the evolving...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: The recommendation relates solely to tax relief for service charges. I understand what the Senators have said and their arguments for and against. I will communicate their comments to the Tánaiste. Relief for service charges is currently available in respect of charges paid by a householder in the previous year subject to a maximum claim of €400 per annum. Where an individual makes a...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: This matter was debated at some length on Committee and Report Stages in the Dáil. As the Tánaiste and Minister for Finance indicated in those debates, the position is that existing law already provides an exemption for an employee benefit-in-kind charge where employers provide free or subsidised child care to their employees. However, the exemption applies only on certain conditions. I...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: The proposed recommendation seeks to ensure training costs paid by an employer will not result in a benefit-in-kind charge applying to the employee. I am informed by the Revenue Commissioners that in circumstances where an employer either refunds course or examination fees on behalf of an employee or pays them directly on behalf of the employee, and the course undertaken is relevant to the...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: This issue has been around for some time. When studying at the Institute of Chartered Public Accountants in UCD I was taught that self-employed people may claim travel expenses incurred for the purposes of their businesses whereas employees may claim only for travel undertaken in the performance of their duties, a somewhat narrower hoop to get through. The difficulty that arises in this...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: The effect of the recommendation would be to double the value of the 2007 home carer tax credit of €770. The cost of the measure, if implemented, would be approximately €54 million in a full year and €37 million in 2008. The financial resources available to the Tánaiste for the budget 2008 personal tax package including, PRSI and health levy changes, amounted to €582 million, not...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: Most of the recommendations and amendments put forward today and in the other House are, on the surface, quite acceptable. Were I on the other side of the House I, too, could make as good a case in respect of some of them. However, the Minister must strike a balance. Resources are not limitless. Section 6 of the Finance Bill implements the budget announcements to improve the level of rent...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: In principle, there is much merit in the Senator's amendment. Many annuities have fallen in value or are not as valuable when they come to be paid as was originally anticipated. This is because the yield from Government bonds has dropped considerably and there has also been considerable turmoil in the international equity markets. The other difficulty with annuities is that, generally...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I will convey the Senator's view to the Tánaiste. People in the public sector, including ourselves, are fortunate in that we have a defined contribution scheme. The existing position covering many smaller contributors in the PAYE system, whom I suspect the Senator has in mind, could be described as paternalistic. The Government is of the view that if some employees are given the option of...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I did not receive the specific letter to which Senator Twomey referred but I am aware of what is being said and who is saying it. I disagree with the Senator's argument. The current position is that where an employer gives an employee shares in the company, those shares are taxable at their current market value. What is happening in many cases is that companies are giving shares,...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I will.

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: Getting the Revenue Commissioners involved in the area of health and safety is a step too far. There is a bewildering array of health and safety regulations and the Revenue has plenty to do. Moreover, it is not qualified to assess such issues because its expertise lies elsewhere.

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I appreciate that point but there are requirements in place regarding the fulfilment of health and safety regulations. In most cases to which this amendment would be applicable, there is already a requirement for a health and safety certificate. In addition, many claimants for tax relief will have purchased the property involved from the developer and will have no responsibility or control...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I understand the thinking behind Senator Kelly's amendment. Where a tenant is paying rent to a foreign landlord, even if he or she is in receipt of rental allowance from the HSE, the law requires that the tenant must deduct tax at the standard rate from the rent paid against the liability the foreign landlord will ultimately have for tax. This imposes an onerous burden on tenants. I am not...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage (Resumed) and Remaining Stages (13 Mar 2008)

Willie O'Dea: There is very little difference between them. The effect of this recommendation would be to remove the minimum bed capacity requirement of 20 beds provided for in the proposed legislation, which introduces a scheme of capital allowances for specialist palliative care units. The minimum bed number of 20 was decided on following discussions with the Department of Health and Children on the...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage (Resumed) and Remaining Stages (13 Mar 2008)

Willie O'Dea: The allowance scheme is the same. The requirements to qualify for tax relief are the same.

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage (Resumed) and Remaining Stages (13 Mar 2008)

Willie O'Dea: I take the Senator's point. When the Department of Finance was drafting this legislation, it had to have regard to the advice of the Department of Health and Children and the HSE, which was that palliative care units must be sustainable. The Department of Health and Children and the HSE examined the population figures and worked out how many beds should be in each unit if it is to qualify...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage (Resumed) and Remaining Stages (13 Mar 2008)

Willie O'Dea: It was to do with the tax avoidance scheme.

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage (Resumed) and Remaining Stages (13 Mar 2008)

Willie O'Dea: It is a particular scheme that goes into operation.

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage (Resumed) and Remaining Stages (13 Mar 2008)

Willie O'Dea: No. It is about specific tax avoidance schemes.