Results 20,681-20,700 of 27,945 for speaker:Michael McGrath

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I welcome amendments Nos. 81 and 82. It was essential for the Minister to make it explicit that the change he is proposing does not apply in the cases he has outlined. I indicated that I opposed the section to ensure we would have a debate on this issue. There was some controversy over the proposal. The Revenue Commissioners clarified matters, as I understand it. Some suggestions were...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: Deputy Doherty has highlighted a number of examples of worthwhile items and services that are worthy of exemption from VAT. The reality is that there is an unlimited number of items that are bought for good motives and services that are worthwhile with good causes in mind that are subject to VAT. We had a lengthy debate on the issue of defibrillators being subject to VAT at 23% even though...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I support Deputy Creed on this point. The criteria for a primary medical certificate is so strict and the bar is set very high. I had a case in my area, a person the Minister knows well who lost his entire arm in a boating accident who does not qualify. It is very difficult to explain to a person in that situation that he or she does not have a sufficient disability to qualify for a...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I commend the Revenue Commissioners on the work they are doing in this area. I was delighted to hear about the new marker recently and how hopeful Revenue and departmental officials are that it will go a long way to resolving the issue. It would be transformative if it is as successful as the Minister thinks it might be. What is going on is an absolute disgrace. The State is being denied...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I wish to refer to amendment No. 68 too. Obviously if one is betting online, one can do so 24 hours a day whereas bookmakers' shops can only open for a restricted number of hours. The playing field is not level in that respect. Amendment No. 68 proposes to extend the opening hours of bookmakers and I support that. However, I agree with Deputy Doherty on the issue of the gambling control...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: Deputy Naughten raised this issue, which is also relevant to sections 69 and 74. Farm organisations have raised it and I am sure the Minister’s backbenchers have also raised the definition of the active farmer with him. There is a need for more clarity around the definition. Is it based on a 40-hour week in which case somebody who is farming for 20 hours a week or more will meet the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I am sure the Minister of State saw the reports in The Sunday Business Posta number of weeks ago in respect of shelf companies being established in a rush to avail of the transition period. Will he give us an assurance that the proposed amendment deals comprehensively with that issue, because that is an abuse of the transition period the Government has announced.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: The Minister of State knows I take a different view on this issue, not such much because of the specific aspects of the double Irish but my concern is about the issue of certainty with regard to Ireland's corporation tax offering. Last year's Finance Bill made a change in respect of stateless companies and now there is a change on the double Irish. I do not believe that our competitors, our...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I support the idea of trying to bring people back to living in the cities. According to the last couple of published censuses, the population in Cork city has been declining, which is a concern. There are many properties in that city that are in need of renovation. It would be great to see more families returning to live in the city. I am concerned that two years on from the introduction...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I move amendment No. 58: In page 52, between lines 27 and 28, to insert the following:"(a) to qualify for tax relief under this provision—(i) it shall not be necessary for the person claiming relief to be ordinarily resident in the relevant house, (ii) any person who owns a pre-1915 house in a town with a population greater than 10,000 people shall be eligible to avail of tax...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I believe that any tax which is designed to prevent transactions from happening is not necessarily a good tax. I know this tax was introduced by the last Government to deal with the issues referred to by Deputy Doherty. However, it has now become a barrier to the release of development land onto the market. We all accept that one of the main issues in the housing market at the moment is...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I welcome the changes to the research and development tax credit which is something that has long been called for. Improvements have been made to the research and development regime over recent years but the base year has been an issue for a number of years. The change is very welcome. It is estimated that it will cost €50 million which will make a real, positive and practical...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: We can all agree that this initiative is a vital source of non-bank finance for businesses. Overall, it has not been as successful as anticipated originally as a replacement for the business expansion scheme. I make the general point that the longer an investment is allowed to retain the investment the better, and the longer period over which one can spread the tax relief the better. That...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I support Deputy Doherty's point. What he described may not arise in many instances but, given that one must submit a claim for the DIRT to be refunded, there should be a requirement to demonstrate proof that a mortgage has been availed of. What the Deputy outlined might arise in only a small number of cases but, if Johnny has wealthy parents and they are putting money aside for him in his...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: The list states that amendments Nos. 44 to 49, inclusive, are being discussed together.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I wish to speak to amendment No. 49. This initiative is worthwhile and is modest. The amount of money allocated is €2.8 million. I recognise it will be demand led, so the amount could be much greater. The estimate from the Department is that 9,500 people might benefit in 2015 and that the average yield for each would be just under €300 so it modest. The change I propose is...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: This is a really important debate. There is an entire sub-committee of the joint committee dealing with this matter but unfortunately we have not made as much progress as we would like to have made because of disagreements. We are failing to agree on some very basic issues, but the April 2014 paper is really helpful. The reconciliation between gross income and taxable income is in black...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: I will speak on amendment No. 49.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: This is highly technical. Some 24 amendments have been grouped together, a total of eight pages of amendments. I wish to make a point that we should be given an updated explanatory memorandum or an explanation of those amendments in advance of Committee Stage. It is very difficult to interrogate highly technical material. I think I understand the thrust of the 24 amendments and I do not...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael McGrath: It would be helpful at this stage if the Minister of State put on the record the number of people who have availed of SARP and the amount of tax forgone. The Minister of State might dispute the use of the word "forgone", but rather the tax that has not been collected. The issue of jobs and job creation underpins all these measures and is only justifiable if there is a clear and tangible...