Results 5,281-5,300 of 27,945 for speaker:Michael McGrath
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: That is established that they are both taxable.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: There are not many. I thank the Minister.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: I move amendment No. 52: In page 28, between lines 27 and 28, to insert the following:“(2) (a) The qualifying criteria for early access to pension benefits as outlined in the Finance Act 2013 shall be increased to include those in defined contribution schemes (including personal retirement savings accounts) subject to certain qualifying conditions. (b) The person making the application...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: Is that a tax take of €39.4 million?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: I thank the Minister for his reply and recognise the good reasons he needs to restrict this type of access to pensions. However, he tweaked the access to AVCs without the need for changes to be made to pension scheme rules or trust deeds. Is that change acting as an obstacle to persons wishing to access their AVCs? Is there an uplift in the level of activity in this area? On current...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: The budget documentation contains illustrative examples which take account of both spending and taxation. Annexe A of the documentation sets out seven examples of Joe and Mary. In six of these examples the budget has no impact.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: We will descend into farce if the Minister goes down that road.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: In one example, they take a hit of 1% because they have private health insurance. That is a farce.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: It is not representative.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: Come on, Minister, we have had a reasonably good session thus far.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: The budget was about much more than income tax.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: They should be fair and representative of the full impact of the budget.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: They were not. They were a joke.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: Not at all.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: My point is that when one is giving examples of how the budget impacted on different families, they should be representative. The examples take no account of the full year impact of the property tax, for example, because that was announced in the previous budget. It is completely ignored in this budget even though it hits pockets in 2014. Things like that mean the analysis is not meaningful.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: It is distorting the picture.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: I do not believe they are representative.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: I do not agree.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: If the illustrations are to be meaningful they should at least include a footnote stating that people will be paying twice the amount of property tax they paid last year.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)
Michael McGrath: When John and Mary look at 2014, that is what they have to take into account. It is the reality for them.