Results 2,341-2,360 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Rental Sector (13 Jul 2023)

Michael McGrath: A new tax incentive was introduced in Finance Act 2022 for small-scale landlords who undertake retrofitting works while the tenant remains in situ, which has the aim of attracting and retaining small-scale landlords in the private rental sector. This measure is provided for in section 97B of the Taxes Consolidation Act 1997. The provision is intended to provide for a deduction of certain...

Written Answers — Department of Finance: Prize Bonds (13 Jul 2023)

Michael McGrath: I am advised by the National Treasury Management Agency (NTMA) who manage State Savings that the below table shows both the total amount of Prize Bond winnings from a monetary and volume perspective from July 2021 to June 2022, and from July 2022 to June 2023. - € prizes # prizes July 2021 – June 2022 15,382,250.00 ...

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

Michael McGrath: As the Deputy will be aware, it is a long-standing practice that the Minister for Finance does not comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. Under Irish VAT law the supply of services by writers, composers and performing artists are subject to the standard rate of VAT, currently 23%. The providers of such services are required to...

Written Answers — Department of Finance: Tax Collection (13 Jul 2023)

Michael McGrath: I have been advised by Revenue that the named individual requested an exemption from filing online on 30 October 2020 and that an e-filing exemption was granted on 15 December 2020. This exemption is still in place.

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: I am advised by Revenue that the latest available full year information available in respect of Local Property Tax (LPT) is for the year 2022. The total number of properties for which returns and/or LPT payments have been made for the year 2022 is 1,907,308 to-date. The table below shows a breakdown of these properties by valuation band. These figures include exempt and deferred properties...

Written Answers — Department of Finance: Tax Reliefs (13 Jul 2023)

Michael McGrath: The following tax expenditures have a sunset clause of end-2023:Sea-going naval personnel creditReduced rate of USC for medical card holdersConsanguinity reliefRelief from VRT for electric Vehicles Accelerated Capital Allowances for Energy Efficient Equipment In relation to costings it should be noted that the Department of Finance has opened its pre-budget costings service, this is available...

Written Answers — Department of Finance: Tax Exemptions (13 Jul 2023)

Michael McGrath: The Department of Finance has opened its pre-budget costings service, this is available with effect from 3 July 2023. The procedures for availing of this service are set out in a letter dated 3 July 2023 from the Secretary General of the Department to all recognised parties and technical groups in Dáil Éireann. To ensure efficiency and fairness all costing requests should be made...

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

Michael McGrath: The Department of Finance has opened its pre-budget costings service, which is available with effect from 3 July 2023. The procedures for availing of this service are set out in a letter dated 3 July 2023 from the Secretary General of the Department to all recognised parties and technical groups in Dáil Éireann. To ensure efficiency and fairness all costing requests should be made...

Written Answers — Department of Finance: Tax Data (13 Jul 2023)

Michael McGrath: I am advised that Revenue does not have comprehensive data on share buy-backs as there is no statutory requirement in place for such data to be provided to them. However, based on information provided to Revenue in relation to the stamp duty treatment of such transactions and on publicly available information, Revenue estimates that the aggregate value of share buybacks in each of the years...

Written Answers — Department of Finance: Tax Data (13 Jul 2023)

Michael McGrath: At the time of Budget 2023, the Vacant Homes Tax was estimated to raise approximately €3 million per year. As this is a permanent measure it is considered to be part of the tax base.

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 285, 286, 287 and 288 together. The Vacant Homes Tax is a new measure announced in Budget 2023, which aims to increase the supply of homes for rent or purchase to meet demand. Legislative provision for the tax was made in the Finance Act 2022. The first chargeable period commenced on 1 November 2022. The first self-assessed returns are due on 7 November this...

Written Answers — Department of Finance: Departmental Appointments (13 Jul 2023)

Michael McGrath: The State Boards of my Department have advised that no personnel from my Department at Principal Officer level or above who, on retiring from that position, were subsequently appointed to a State or semi-State board over the past ten years.

Written Answers — Department of Finance: Tax Data (13 Jul 2023)

Michael McGrath: I am advised by Revenue that it is not possible to provide the information requested by the Deputy, as there is not sufficient detail on the Form 11 tax return to determine whether income arises from a taxpayer being a brand ambassador in any capacity, or specifically being one for a motor company. Revenue have also confirmed that there is no specific information on the occupation/role of...

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

Michael McGrath: As the Deputy will be aware, it is a longstanding practice that the Minister for Finance does not comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. The VAT registration thresholds are subject to the requirements of EU VAT law, with which Irish VAT law must comply. Our VAT thresholds were increased to their current values, €37,500...

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: I am advised by Revenue that the amount of rental income on residential properties and commercial properties as declared on Form 11 tax returns by non tax-resident persons for the years 2011 to 2020 (the latest year for which fully analysed data are currently available) is set out in the following tables. Information regarding the location of the rental properties is not captured on the...

Written Answers — Department of Finance: Financial Services (13 Jul 2023)

Michael McGrath: The Financial Services and Pensions Ombudsman (FSPO) was established in January 2018. It's role to resolve complaints from consumers, including small businesses and other organisations, against financial service providers and pension providers. The FSPO provides an independent, fair, impartial, confidential and free service to resolve complaints through either informal mediation, leading to...

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 294, 299 and 328 together. The temporary solidarity contribution in respect of windfall gains in the energy sector is estimated to raise approximately €100 million in 2024. This is reflected in the revenue projections published as part of the Stability Programme Update(SPU) 2023. The cap on market revenues will be collected by the Commission on...

Written Answers — Department of Finance: Housing Schemes (13 Jul 2023)

Michael McGrath: Help to Buy (HTB) is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive offers a refund on Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in Section 477C of the Taxes Consolidation Act 1997. An increase in the supply of new housing...

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: The Department of Finance has opened its pre-budget costings service, which is available with effect from 3 July 2023. The procedures for availing of this service are set out in a letter dated 3 July 2023 from the Secretary General of the Department to all recognised parties and technical groups in Dáil Éireann. To ensure efficiency and fairness all costing requests should be made...

Written Answers — Department of Finance: Tax Yield (13 Jul 2023)

Michael McGrath: The Department of Finance has opened its pre-budget costings service, which is available with effect from 3 July 2023. The procedures for availing of this service are set out in a letter dated 3 July 2023 from the Secretary General of the Department to all recognised parties and technical groups in Dáil Éireann. To ensure efficiency and fairness all costing requests should be made...