Results 201-220 of 8,357 for speaker:Jack Chambers

Written Answers — Department of Finance: Primary Medical Certificates (23 Jul 2024)

Jack Chambers: I cannot comment on matters of rural transport but I can discuss the Disabled Drivers and Disabled Scheme for which my Department has governance and oversight. 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...

Written Answers — Department of Finance: Tax Yield (23 Jul 2024)

Jack Chambers: I am advised by Revenue that, based on stamp duty returns for 2023, the latest year for which fully analysed data is available, the estimated cost of abolishing stamp duty for first-time buyers of residential properties valued at €500,000 or less, €450,000 or less and €400,000 or less, respectively are provided in the table below. This estimate is arrived at by taking the...

Written Answers — Department of Finance: Tax Yield (23 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 335 and 336 together. I am advised by Revenue that the estimated revenue from increasing the rate of commercial Stamp Duty from 7.5% to 10%, and from 7.5% to 12.5%, excluding the rate charged on transfers of agricultural land, is provided in the table below. There is no information available on the Stamp Duty returns made to Revenue which would enable it to...

Written Answers — Department of Finance: Tax Yield (23 Jul 2024)

Jack Chambers: I am advised by Revenue that the additional revenue associated with the removal of the existing employer’s PRSI exemption, that may apply to share-based remuneration schemes operated by employers, is now estimated to be in the region of €310 million for all employers. This latest estimate is based on 2023 data, being the most recent year in respect of which Revenue has full data...

Written Answers — Department of Finance: Tax Yield (23 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 338 and 339 together. With respect to the Deputy’s first question,I am advised by Revenue that the Stamp Duty treatment of share buybacks depends on the form in which the shares are held and the method by which the buybacks are effected. For shares held in certificated (i.e., paper) form, the shares may be bought back in two ways. The first is by means...

Written Answers — Department of Finance: Vehicle Registration Tax (23 Jul 2024)

Jack Chambers: As the Deputy is aware all motor vehicles in the State must be registered within 30 days of their date of entry into the State at which point Vehicle Registration Tax (VRT) is charged. In certain cases, a full or partial exemption from VRT may apply, if the person registering the vehicle is transferring their residence to the State.In order to qualify for Transfer of Residence (TOR) relief,...

Written Answers — Department of Finance: Tax Yield (23 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 341 to 343, inclusive, together. It is assumed that the measures proposed by the Deputy are in addition to the existing surcharge of 3% on non-PAYE income in excess of €100,000, meaning that the total surcharge on such income in excess of €140,000 would be 6%, 5% and 4% for the 3%, 2% and 1% surcharge proposals respectively. The estimated first...

Written Answers — Department of Finance: Departmental Schemes (23 Jul 2024)

Jack Chambers: I refer to the answer to PQ No. 233 given by the Minister for Public Expenditure, NDP Delivery and Reform on 9 July last in which the Deputy was advised that this information would be collated by the State Claims Agency (SCA)/National Treasury Management Agency (NTMA). In answering the current question I wish to set out for the Deputy the SCA's actual role in managing claims on behalf of the...

Written Answers — Department of Finance: Tax Yield (23 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 347 and 404 together. I am advised by Revenue that its Ready Reckoner for calculating the impact of potential changes in rates of taxation can be used to estimate the effect of changes to the carbon tax rate by extrapolating from the information on page 23. The Ready Reckoner is available on the Revenue website at:...

Written Answers — Department of Finance: Tax Code (23 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 348 and 375 together. My Department, the Department of Health and Revenue have, for some time, been aware of issues which arose from contractual arrangements within the General Practitioner (GP) community whereby some GPs treat income under their General Medical Services (GMS) contract as income of a GP practice in which they are a partner or an employee,...

Written Answers — Department of Finance: Tax Data (23 Jul 2024)

Jack Chambers: I am advised by Revenue that the table below provides the Local Property Tax collection amounts for the years 2013-2023 by county. The data refer to collections for a given LPT year rather than a calendar year. Local Property Tax Collection Amounts (€m) - 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Carlow County Council 2.1 4.1 3.9 3.9 3.8 3.9...

Written Answers — Department of Finance: Tax Reliefs (23 Jul 2024)

Jack Chambers: Budget 2024 contained a suite of measures in the context of housing policy including the introduction of a new tax relief known as Residential Premises Rental Income Relief (RPRIR). RPRIR will provide relief, at the standard rate, on a portion of a landlord’s residential rental income. The relief will be €3,000 in the tax year 2024, €4,000 in the tax year 2025 and...

Written Answers — Department of Finance: Tax Yield (23 Jul 2024)

Jack Chambers: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. I am informed by Revenue that they are unable provide a costing for this. Information on the numbers and values of individual pension funds or on individual accrued...

Written Answers — Department of Finance: Tax Yield (23 Jul 2024)

Jack Chambers: I am advised by Revenue that the table below sets out the estimated yield from the introduction of an additional charge of €100 and €400 on properties liable to Local Property Tax, excluding the first property for each liable person and also excluding all other properties owned by Local Authorities and Approved Housing Bodies. Revenue does not hold adequate information to...

Written Answers — Department of Finance: Tax Reliefs (23 Jul 2024)

Jack Chambers: I propose to take Questions Nos. 353 and 354 together. As the Deputy is aware, loss relief for corporation tax is a long-standing feature of the Irish corporate tax system and a standard feature of corporation tax systems in most OECD countries. It recognises the fact that a business cycle runs over several years and that it would be unfair to tax income earned in one year and not allow...

Written Answers — Department of Finance: Tax Data (23 Jul 2024)

Jack Chambers: The main tax reductions as announced in Budget 2022 and 2023 related to the personal income tax package. Budget 2022 included an income tax package with a first year cost of €0.54 billion and a full year cost of €0.62 billion, which included a broad range of income tax and USC measures. The single standard rate income tax band was increased by 4.3% from €35,300 to...

Written Answers — Department of Finance: Tax Credits (23 Jul 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. Claims for the Rent Tax Credit in respect of the 2022 and 2023 years of assessment can be made by PAYE taxpayers by submitting an Income Tax return for that...

Written Answers — Department of Finance: Housing Schemes (23 Jul 2024)

Jack Chambers: I am advised by Revenue that 115,241 Help-to-Buy (HTB) applications have been made to-date since the inception of the scheme. This excludes cancelled applications. Applications for HTB may be made on a provisional basis as first time buyers will want to have certainty as to their entitlements in advance of commencing the purchase of a property. An application will only progress to the...

Written Answers — Department of Finance: Vehicle Registration Tax (23 Jul 2024)

Jack Chambers: Under the Finance Act 1992, Vehicle Registration Tax (VRT) is assessed on a vehicle at the time of its registration, and the tax payable depends on the VRT category of vehicle involved. VRT categories are linked to the vehicle’s technical categorisation under EU type-approval rules. VRT category A is for passenger vehicles and vehicles in this category are generally EU category M1....

Written Answers — Department of Finance: Revenue Commissioners (23 Jul 2024)

Jack Chambers: The capital budget allocation for the Revenue Commissioners in the years 2022 2023 and 2024, and the percentage of that capital funding that was actually spent in 2022 and 2023, is outlined in the table below: Vote 09 - Revenue Commissioners 2022 Allocation€m 2022 Expenditure€m % spent in 2022 2023 Allocation€m 2023 Expenditure€m % spent in 2023 ...