Results 8,641-8,660 of 9,274 for speaker:Jack Chambers

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I will send further information to the Senator. The Department is still working through the specific detail on how equality budgeting will operate. I will, though, reflect what the Senator said and further information will be published in that regard.

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I am happy to provide it.

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: Up Mayo.

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I thank the Senator. The Senator has tabled a recommendation seeking a report to be published which I understand would outline the comparative State supports received by workers in the auto-enrolment retirement savings scheme compared with individuals making contributions to an occupational pension scheme. Is this what she was referring to?

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: On the design and operation of auto-enrolment more generally, this was discussed at length by the Minister, Deputy Humphreys, when she was bringing this legislation through the Houses. In this Bill, we are simply putting in place the taxation provisions relating to the auto-enrolment system in line with the design set out by the Minister, Deputy Humphreys, and introduced in the legislation....

Written Answers — Department of Finance: Tax Code (6 Nov 2024)

Jack Chambers: Taxing fuel usage is a policy that is employed across most transport modes to reduce emissions. However, this is not a policy approach that is common for the aviation sector. Ireland’s tax policy in this area has been formulated within the parameters of international agreements and EU law, along with national cross-cutting policy considerations. Article 24 of the 1944 Chicago...

Written Answers — Department of Finance: Tax Data (6 Nov 2024)

Jack Chambers: I assume that the Deputy is referring to the remittance basis of assessment that applies to individuals who are resident or ordinarily resident, but not domiciled in the State. Under the remittance basis, non-domiciled individuals pay tax on: (1) Income and gains arising in Ireland, (2) Foreign income which they “remit” or bring into the State, and (3) Foreign gains...

Written Answers — Department of Finance: Fiscal Data (6 Nov 2024)

Jack Chambers: In Budget 2025, I indicated that an income volatility measure to support the farming sector would require detailed consideration of complex issues of policy around how this would operate in the context of financial regulation, governance and legal structures. Therefore, the parameters of any such scheme are yet to be fully considered. Accordingly, there is not a basis upon which to estimate a...

Written Answers — Department of Finance: Capital Expenditure Programme (6 Nov 2024)

Jack Chambers: I wish to inform the Deputy that the Department of Finance has made no capital investment in East Meath since 2020. The Department of Finance is a policy oriented Department and while it contributes to Government plans it is unlikely to be involved in the delivery of capital investments in specific constituencies.

Written Answers — Department of Finance: Tax Credits (6 Nov 2024)

Jack Chambers: The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. In relation to the question of parents paying for their children who are studying abroad and in a tenancy outside the State, the purpose behind the Rent...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: Sections 100 and 101 of the Finance Bill 2024 (as initiated) provide for the introduction of a revised form of relief from Capital Acquisitions Tax (CAT) for gifts and inheritances of agricultural property where certain conditions are met. I will bring an amendment at Committee stage of the Finance Bill to provide that these provisions will be subject to a commencement order. Subject...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: Sections 100 and 101 of the Finance Bill 2024 (as initiated) provide for the introduction of a revised form of relief from Capital Acquisitions Tax (CAT) for gifts and inheritances of agricultural property where certain conditions are met. I will bring an amendment at Committee stage of the Finance Bill to provide that these provisions will be subject to a commencement order. Subject...

Written Answers — Department of Finance: Tax Data (5 Nov 2024)

Jack Chambers: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply. In general, the Directive provides that all goods and services are liable to VAT at the standard rate unless they fall within those listed in Annex III, in respect of which Member States may apply a lower rate. The Directive also allows for a Member State’s...

Written Answers — Department of Finance: Mortgage Interest Rates (5 Nov 2024)

Jack Chambers: As the Deputy will be aware, Home Building Finance Ireland ('HBFI') was established to increase the supply of new homes for owner-occupiers, renters and social housing by providing funding on commercial terms to house builders for commercially viable developments throughout Ireland. HBFI lending is therefore on commercial terms, in line with other residential finance providers in the...

Written Answers — Department of Finance: Banking Sector (5 Nov 2024)

Jack Chambers: The Department of Finance estimates that in order to build 50,000 homes per year, an average of €20 billion of development finance will be required. While the State can contribute approximately €3 billion of this on our direct construction projects, the remaining €17 billion required for development must be secured by our homebuilders from private sources –...

Written Answers — Department of Finance: Departmental Budgets (5 Nov 2024)

Jack Chambers: I welcome the engagement from Foetal Alcohol Syndrome Disorder (FASD) Ireland in the context of Budget 2025. As is the case with all budgetary decisions, all strands of relevant information, including submissions from stakeholder and representative bodies are taken into account when considering budgetary options. The annual budget process includes presentation policy options to the Tax...

Written Answers — Department of Finance: Revenue Commissioners (5 Nov 2024)

Jack Chambers: I am informed by Revenue that it has no planned downtime for the Revenue Online Service (ROS) system during the Pay & File period. However, unplanned downtime, by its nature, is unexpected and therefore cannot be anticipated or forewarned. There was an issue with ROS from approximately 1:30pm to 2:30pm on 15 October. The issue was due to human error that occurred during normal...

Written Answers — Department of Finance: Fiscal Data (5 Nov 2024)

Jack Chambers: I propose to take Questions Nos. 247 and 250 together. The Summer Economic Statement 2024 set out assumed (net) tax packages for the period 2025-2030. The tax package for Budget 2025 was set at €1.4 billion, with packages of €1.2 billion per year assumed thereafter. This is reflected in the fiscal projections published as part of Budget 2025. The details of the €1.4...

Written Answers — Department of Finance: Insurance Industry (5 Nov 2024)

Jack Chambers: This Government remains strongly committed to achieving a competitive and sustainable insurance market where insurance is affordable and available to all. The implementation of the Action Plan for Insurance Reform is progressing well, with vast bulk of actions now complete, and all ten principal actions finalised. Insurance reform is a priority for the Government, overseen by the Cabinet...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or DDS is no longer fit-for-purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional mobility of the individual. However, this is very much a matter for Government as...