Results 1-20 of 403 for land speaker:Michael McGrath

Did you mean: and speaker:186?

Written Answers — Department of Finance: Tax Exemptions (28 May 2024)

Michael McGrath: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. RZLT is designed to prompt residential development by owners of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced, and is not otherwise precluded from development, due to issues such as contamination, etc. RZLT is an annual tax,...

Written Answers — Department of Finance: Tax Code (24 Jan 2023)

Michael McGrath: A key objective of the government’s Housing for All plan is a pathway to increase housing supply, including a focus on providing an adequate supply of available serviced zoned land within required densities. In this regard, provision was made in the Finance Act 2021 for a new tax on land zoned for residential development, which also has the necessary services in place. The Residential...

Written Answers — Department of Finance: Tax Rebates (26 Sep 2023)

Michael McGrath: In general, capital gains tax (CGT) is chargeable on a gain arising on the disposal of an asset, including agricultural land, at the rate of 33%. The first €1,270 of chargeable gains of an individual in any year are exempt from CGT. Section 604B of the Taxes Consolidation Act 1997 provides relief from CGT in respect of gains arising on transactions undertaken to achieve farm...

Written Answers — Department of Finance: Tax Code (13 Jun 2023)

Michael McGrath: Finance Act 2021 introduced Part, 22A Residential Zoned Land Tax (RZLT), into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land...

Written Answers — Department of Finance: Tax Code (27 Jun 2023)

Michael McGrath: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by landowners of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land within its scope. The...

Written Answers — Department of Finance: Tax Code (18 Apr 2023)

Michael McGrath: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land...

Written Answers — Department of Finance: Tax Exemptions (1 Jun 2023)

Michael McGrath: Finance Act 2021 introduced Part, 22A Residential Zoned Land Tax (RZLT), into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: A key objective of the Government’s Housing for All plan is a pathway to increase housing supply, including a focus on providing an adequate supply of available serviced zoned land for the development of housing. In this regard, provision was made for a new tax on land zoned for residential development, which also has the necessary services in place. The purpose of this Residential...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Michael McGrath: I move amendment No. 17: In page 38, between lines 13 and 14, to insert the following: “Amendment of section 664 of Principal Act (relief for certain income from leasing of farm land) 33.Section 664 of the Principal Act is amended— (a) in subsection (1)— (i) in paragraph (a), by— (I) the insertion of the following definitions: “...

Written Answers — Department of Finance: Tax Code (21 May 2024)

Michael McGrath: The Residential Zoned Land Tax or RZLT was introduced in Finance Act 2021 and seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. RZLT, which is an action under Housing for All, aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for...

Written Answers — Department of Finance: Tax Code (16 Nov 2023)

Michael McGrath: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. RZLT is designed to prompt residential development by owners of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. The legislation underpinning RZLT requires local authorities to consider whether land meets the relevant criteria...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: The residential zoned land tax (RZLT) is a new tax introduced in Finance Act 2021 which seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for housing. The tax is an action contained...

Written Answers — Department of Finance: Tax Yield (27 Jun 2023)

Michael McGrath: RZLT is an annual tax, calculated at a rate of 3% of the market value of the land within its scope. The tax will be due and payable from 2024 onwards in respect of land which fell within the scope of the tax on or before 1 January 2022. Where land is zoned or serviced after 1 January 2022, the tax will be first due in the third year after the year in which it comes within scope. The aim...

Written Answers — Department of Finance: Tax Code (20 Sep 2023)

Michael McGrath: The Residential Zoned Land Tax (RZLT) is a new tax introduced in Finance Act 2021 which seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for housing. The tax is an action contained...

Written Answers — Department of Finance: Tax Exemptions (21 Mar 2023)

Michael McGrath: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by landowners of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land within its scope. The...

Written Answers — Department of Finance: Tax Code (13 Jun 2023)

Michael McGrath: I propose to take Questions Nos. 379 and 385 together. Finance Act 2021 introduced Part, 22A Residential Zoned Land Tax (RZLT), into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax,...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: The Residential Zoned Land Tax (RZLT) is a new tax introduced in Finance Act 2021 which seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for housing. The tax is an action contained...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Michael McGrath: Okay. If you look at page 129, for example, where it looks at Galway client analysis, so these are loans, presumably, extended in that area. It goes through unzoned land, €84 million; zoned land, €392 million, without planning; zoned land, with planning, €236 million - that's the whole land area - development with no pre-sales, €342 million; development with...

Written Answers — Department of Finance: Tax Reliefs (29 Nov 2023)

Michael McGrath: ...assets by 90%, such that CAT is payable on the reduced value (after allowing for any unused group threshold amount). The term agricultural property is defined in the legislation as:Agricultural land, pasture and woodland situate in the EU and crops, trees and underwood growing on such land;Farm houses, farm buildings and mansion houses which are of a character appropriate to the lands...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 208 and 209 together. The Residential Zoned Land Tax (RZLT) is a new tax introduced in Finance Act 2021 which seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being...