Results 11,941-11,960 of 27,945 for speaker:Michael McGrath

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I will look it up. I thank the Minister.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: There is a logic to what the Minister is doing. I agree that people have some flexibility and an opportunity to reduce the level of stamp duty they are paying but this has to be viewed alongside the actual bank charges because these are Government charges. Bank charges are a different animal. The present bank charges can be very significant. I have checked AIB as a case in point - it...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: The point I am making is that the Minister is trying to encourage people to use, say, Visa debit cards instead of cash when they are making a small purchase. If a bank charges 20 cent to use that debit card to buy a newspaper for €2, it is 10% of the cost of what they are buying so if they have cash in their pocket they will use that instead of using the debit card because of the cost...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I move amendment No. 72:In page 81, between lines 11 and 12, to insert the following: “Capital Acquisitions Tax 64. Section 30(2) of the Principal Act is amended by the substitution of “the date on which probate is granted in respect of the deceased person” for “the date of death of the deceased person”.”. This issue was brought to my attention...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: There is consistency.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: Is there a difference in the treatment-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I will withdraw the amendment.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I move amendment No. 73:In page 81, line 14, to delete “€280,000” and substitute “€300,000”. I welcome the change the Minister has made to the Group A tax free threshold; he is increasing it from €225,000 to €280,000. This proposal is to go further to increase it to €300,000. This is not an issue on which there is agreement....

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: With regard to the postponement of the revaluation date until 2019, which I welcome, what is the status of properties that were bought and came on stream since the last valuation date in 2013? How will a first-time buyer who purchases a new house in 2015 be treated in the context of LPT?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: Will the legislation be introduced next year?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I move amendment No. 79:In page 81, between lines 19 and 20, to insert the following:"Impact of Budget 66. The Minister shall, within 3 months of the passing of this Act, prepare and lay before Dáil Éireann an analysis of the tax changes in this Act, and the total of tax changes and spending adjustments of Budget 2015, setting out the continuing impact on people based on their...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: If the Legal Services Regulation Bill 2015 is enacted and a new legal services regulatory authority is set up, will that need to be named in this section or does it step into the shoes of the Law Society in respect of certain investigations it might do?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I move amendment No. 96:In page 95, between lines 35 and 36, to insert the following:"Deposit Interest Retention Tax 85. The Minister shall, within one month of the passing of this Act, prepare and lay before Dáil Éireann a report on options available for the charging of Deposit Interest Retention Tax at rate equivalent to the individual's marginal income tax rate.". Although what...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I thank the Minister for his reply and for giving the costings. I accept that what I am proposing would be administratively difficult to implement. An estimated cost of €77 million in 2016 is a very significant sum. Over time, however, as commissions on taxation examine the overall structure, the taxation of interest income should be aligned to the overall taxation of a person's...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I move amendment No. 97:In page 95, between lines 35 and 36, to insert the following: “Personal Retirement Savings Account 85. Section 787J of Chapter 2A of the Principal Act (as inserted by the Pensions (Amendment) Act 2002) is amended by the repeal of subsection (3).”. This amendment relates to the taxation treatment of PRSAs, personal retirement savings accounts, which...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I thank the Minister for his comprehensive reply. There is much to digest there. It is a complicated area and his reply has improved my understanding of the distinction between the taxation treatment of an occupational pension scheme and a PRSA. I will take some time to study the Minister’s reply to consider whether to introduce a Report Stage amendment.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I move amendment No. 98:In page 95, between lines 35 and 36, to insert the following:“Vouched Travel Expenses 85. The Principal Act is amended by insertion the following section after section 195A:“195B. (1) In this section— ‘expenses’ means vouched expenses; ‘normal place of work’ means the location where an employee or director undertakes...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: Is there any timeframe on the deliberations of the consultation?

Written Answers — Department of Social Protection: Pension Provisions (19 Nov 2015)

Michael McGrath: 41. To ask the Tánaiste and Minister for Social Protection her Department in the arrangements for the provision of pensions to former employees of Waterford Crystal; and if she will make a statement on the matter. [41059/15]

Written Answers — Department of Finance: Electric Vehicles (19 Nov 2015)

Michael McGrath: 56. To ask the Minister for Finance the number of electric cars registered in each year since 2010; and if he will make a statement on the matter. [41060/15]