Results 27,261-27,280 of 32,583 for speaker:Richard Bruton
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: Unfortunately, I did not hear whether the Minister said the commission would consider this. I know other jurisdictions have considered, for example, having a minimum tax charge for people on a lower threshold of days or for people who spend a substantial amount of time in Ireland but fewer than the 183 days. They have talked about minimum contributions and people have looked at different...
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: I move amendment No. 5: In page 6, line 6, after "income" to insert the following: "except where the Minister by regulation sets out a schedule of allowable deductions". Essentially, this amendment is to deal with the very unsatisfactory nature of the levy system the Minister has put in place. I do not need to rehearse the arguments about the problems but will give a couple of examples of...
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: A firm purpose of amendment. That is right.
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: Exactly. The Minister promised a firm purpose of amendment some day in the future like, I believe, St. Augustine. I am relying on the Minister to-----
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: The Minister accepts we will have to evolve this and my amendment allows him to make regulations. I did not have time to amend this provision but the Minister said, rightly, the House would like to see this placed by substantive resolution. If he was disposed to accept this amendment, he would make amendments by way of substantive motion before the House. There is a need to address this....
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: It is in the budget book.
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: Perhaps I have forgotten. Whatever it is, it is in the book. If we are to see a continuing reliance on this form of taxation, we need to see some modification and role for the House in delivering it. The book states â¬2.5 billion in a full year in taxation in 2010.
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: No. It states additional annual measures to be delivered in 2010 will have a full year tax impact of â¬2.5 billion. In regard to spending, the full year impact will be â¬1.5 billion.
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: No. This refers to additional annual measures to be delivered in 2010. The knock-on effect of this year is much greater than that. It is â¬3.5 billion in taxation.
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: When the Minister comes to explain that in the explanatory tables, it is made very clear that it will be â¬1.75 billion this year but that the full year implication of it is â¬2.5 billion.
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: No. It is the full year impact in 2010 of what the Minister is raising.
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: I do not want to be pedantic about this but if the Minister introduces a tax in February, he will not come back the following year and say that in 2011, he will vote for the carry over. He will say that is read into the level of tax. The implication of the Minister's tax measures is â¬2.5 billion in extra tax ad infinitum. That is what he is doing. That is not the central point but I am...
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: I did not quite understand-----
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: I did not understand the Minister's comments as regards the issues raised in respect of the application of the levy to life insurance. The central contention is that the levy will apply to pension investment business written by life insurers, but not other institutions - and that is one of the problems. Furthermore, because the levy is applying on pensions, it is hitting the consumer's...
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: The Minister, then, sees something in the arguments the industry is making.
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: I move amendment No. 7: In page 6, line 41, to delete "â¬15,028" and substitute "â¬18,304". This matter arose on Committee Stage. The Minister is proposing taxation with the levy below the minimum wage. While the Minister says that in times of crisis we must spread the burden, this is an arbitrary way of doing it. The Minister adverted to the major anomalies we are creating in the...
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: I know the Minister is not very well disposed to this amendment but it must be kept under consideration by his Department. Where people are required to make investments for compliance with environmental obligations that the State rightly applies, they should not find themselves paying tax on the money they set aside to meet those compliance obligations. That is what the Minister's provision...
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: I move amendment No. 10: In page 11, line 48, after "2009" to insert the following: "unless it can be shown that the person had occupied the house as their principal private residence in the past 3 years". The Minister has indicated that he would look at this issue and I accept that it may create considerable difficulty. In the current crisis we are seeing very ordinary people getting into...
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: Does the Minister believed that renting a property in Dublin city would not generate more than â¬7,000 a year?
- Finance Bill 2009: Report Stage (Resumed) and Final Stage (27 May 2009)
Richard Bruton: Is that including the 75% level at which interest repayments can be claimed against tax for residential rental properties?