Results 7,301-7,320 of 27,945 for speaker:Michael McGrath

Finance Bill 2014: Report Stage (Resumed) (26 Nov 2014)

Michael McGrath: I thank the Minister of State for his reply, which was reasonably positive and I accept it in good faith. As he will know, under the existing arrangements, it is possible in certain circumstances for the primary carer to transfer the credit in full to the secondary carer. That would arise if, for example, the primary carer does not have any employment income and has no use for the tax...

Finance Bill 2014: Report Stage (Resumed) (26 Nov 2014)

Michael McGrath: It may not sit very comfortably with us as a people but in reality the countries we compete with for inward investment use tools such as SARP. I support it on condition that it does deliver the promised employment dividend. Deputy Doherty’s amendment is quite modest because it is looking for timely information on how SARP is doing. It would save us all tabling a lot of parliamentary...

Finance Bill 2014: Report Stage (Resumed) (26 Nov 2014)

Michael McGrath: As the Minister of State knows, I support this initiative. I am frustrated that it is still not up and running two years after its announcement. As I stated on Committee Stage, my city of Cork could benefit significantly from it. Our city has seen its population decline in recent years. We need the scheme up and running. The scheme is called the "living city initiative". In all cases,...

Finance Bill 2014: Report Stage (Resumed) (26 Nov 2014)

Michael McGrath: I move amendment No. 31:In page 70, to delete lines 24 to 37, and in page 71, to delete lines 1 to 30.This amendment relates to section 42, which proposes the abolition of the double Irish in respect of corporation tax. This matter was discussed at some length on Committee Stage but I just want to reiterate my perspective on it. As the Minister of State is aware, certainty is a much sought...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: We had a good debate on this issue on Committee Stage and earlier on Report Stage. We have a difference of opinion, and such is the nature of parliamentary debate. We will not agree on the issue of the abolition of the double Irish. I made a point earlier about the countries with which we compete for foreign direct investment. I have heard this back from those who represent Ireland seeking...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: I move amendment No. 38:In page 86, between lines 10 and 11, to insert the following: “Amendment of section 109 of Finance Act 1999 (penalties for diesel laundering) 58. Section 102 of Finance Act 1999 is amended in subsection (4)(b) by the substitution of “not exceeding €150,000” for “not exceeding €126,970”.”.I hope the authorities...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: I thank the Minister of State for his reply. The overall purpose of the amendments is to strengthen the deterrent by increasing the penalty regime that applies. The courts are, of course, independent and exercise their functions accordingly. I find it disappointing that they do not avail of the maximum fines on more occasions than they do but they are a separate arm and will make their...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: I move amendment No. 42:In page 94, between lines 18 and 19, to insert the following:"(c) in paragraph 11 of Part 1 of Schedule 2 of the Principal Act is amended by inserting a new subsection (1A) as follows—"(1A) The supply of nicotine replacement therapies.".".We discussed the VAT treatment of a number of goods and services at length on Committee Stage. As the Minister outlined in...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: The pensions raid was one of the most daring political strokes I have experienced. As Deputy Donnelly said, it was akin to taking money out of people's private savings. That is, essentially, what it was. When it was introduced in 2011, I feared it would not end after four years but, thankfully, it will end after five years. However, it has done enormous damage. It has resulted in...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: We discussed this on Committee Stage. It would be helpful if the Minister of State could clarify the type of payments that would be permissible from parents to grown-up children who are living at home and are no longer covered by the exemption. It has been clarified that the change does not capture board and lodgings. I suspect that the origin of this change in the legislation lies with...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: Could the Minister of State confirm the position on the types of abuses he mentioned, using three examples, if amendments Nos. 45 to 47 are accepted by the Government? I do not believe it is the intention of anyone in the House to prevent the Revenue Commissioners from dealing with issues like these. The transactions in question are clearly designed to circumvent the established gift tax...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: I wish to speak initially to amendment No. 50, which proposes that the local property tax, LPT, would be a deductible expense for landlords when calculating their taxable rental income. There is something of a political consensus in this country that landlords should be hammered into the ground in so far as possible, but of course that has one very direct consequence, namely, that rents...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: I thank the Minister for his reply. In response to what he said on amendment No. 50, on allowing the local property tax payment as a deductible expense, it is as legitimate an expense as any other a landlord has. We should be under no illusions as the additional taxes heaped on landlords in recent years have directly resulted in rents increasing. They have certainly been a factor. Part of...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: I move amendment No. 50:In page 132, between lines 30 and 31, to insert the following:"Amendment of Finance (Local Property Tax) Act 2012 99. Finance (Local Property Tax) Act 2012 is amended by inserting the following new section 53A—"53A.Local property tax paid in respect of a rented property shall be deductible by a liable person in accordance with section 11 for income tax or...

Finance Bill 2014: Report Stage (Resumed) and Final Stage (26 Nov 2014)

Michael McGrath: I move amendment No. 52:In page 132, between lines 30 and 31, to insert the following:"Report on local property tax99. Within 6 months of the enactment of this Act, the Minister shall, issue a report detailing how and when he will introduce a provision whereby Local Property Tax paid in respect of a rented property shall be deductible by a liable person for income tax or corporation tax...

Written Answers — Department of Social Protection: Water Charges Administration (26 Nov 2014)

Michael McGrath: 43. To ask the Minister for Social Protection whether the €100 payment in respect of water charges will be administered by means of a new scheme or an extension of an existing scheme; the annual administrative cost associated with the payment; if additional staff will be required to implement the scheme; the means by which persons will receive the payment; and if she will make a...

Written Answers — Department of Finance: Proposed Legislation (26 Nov 2014)

Michael McGrath: 53. To ask the Minister for Finance when legislation will be enacted to protect mortgage holders whose loans have been bought by unregulated third parties; and if he will make a statement on the matter. [45487/14]

Written Answers — Department of Finance: Revenue Commissioners Resources (26 Nov 2014)

Michael McGrath: 55. To ask the Minister for Finance the arrangements in place for members of the public to call into the Revenue Commissioners office in Blackpool, Cork city, and have their queries answered; if he will provide the other options that customers can have queries addressed; if there is a dedicated phone line for tax professionals to contact the Revenue Commissioners on behalf of clients; and if...

Written Answers — Department of Finance: Irish Water Funding (26 Nov 2014)

Michael McGrath: 56. To ask the Minister for Finance the amount Irish Water has drawn down from its loan facility with the NPRF; the full amount of the loan facility; the period of time over which it will be repaid; the interest rate that applies to the loan; if penalty clauses apply in respect of the facility; and if he will make a statement on the matter. [45545/14]

Written Answers — Department of Finance: IMF Loan Issues (26 Nov 2014)

Michael McGrath: 57. To ask the Minister for Finance if his attention has been drawn to the forthcoming parliamentary votes in other EU jurisdictions to facilitate Ireland in early repayment of IMF loan; and if he will make a statement on the matter. [45546/14]