Results 3,081-3,100 of 27,945 for speaker:Michael McGrath

Re-introduction of Mortgage Interest Relief: Motion [Private Members] (25 Apr 2023)

Michael McGrath: The proposal Sinn Féin has put forward tonight is not.

Re-introduction of Mortgage Interest Relief: Motion [Private Members] (25 Apr 2023)

Michael McGrath: If Sinn Féin is genuine, it should publish a consolidated package setting out in total what its proposals are. Just as it recycles the same tax proposals every year in the pre-budget submission-----

Re-introduction of Mortgage Interest Relief: Motion [Private Members] (25 Apr 2023)

Michael McGrath: -----restricting pension tax relief and hammering high earners, there is a predictability to the expenditure proposals as well. Each proposal is designed to target an individual group of voters without any overall strategy or coherence. As regards the impact of this motion, the proposal is unlikely to be of benefit to mortgage holders who fixed their mortgages - approximately two fifths...

Re-introduction of Mortgage Interest Relief: Motion [Private Members] (25 Apr 2023)

Michael McGrath: That is not spelled out. This is despite such mortgage holders experiencing a significant increase in the cost of their mortgages. Additionally, it is important to note there may be scope for many borrowers, in particular variable rate mortgage borrowers who have built up equity in their homes, to look at alternative mortgage options to reduce their mortgage costs. That being said,...

Re-introduction of Mortgage Interest Relief: Motion [Private Members] (25 Apr 2023)

Michael McGrath: I move amendment No. 1: To delete all words after "Dáil Éireann" and substitute the following: "notes that: — the European Central Bank (ECB) is independent in the formulation of monetary policy for the Eurozone Area; — the ECB's objective is to maintain price stability and wishes to ensure a timely return of inflation to its 2 per cent medium-term target; and ...

Re-introduction of Mortgage Interest Relief: Motion [Private Members] (25 Apr 2023)

Michael McGrath: It is not in the motion before the Dáil. Deputy Doherty said in the media yesterday that it would cost in the region of €400 million between now and the end of the year, and that it would be funded from the surplus. He did not say how much it would cost next year.

Re-introduction of Mortgage Interest Relief: Motion [Private Members] (25 Apr 2023)

Michael McGrath: He has not said it will end at the end of the year and when or in what circumstances it will end. He has put forward a motion, which the Dáil has to consider, not what he has said elsewhere or previously. My officials estimate it could cost up to €600 million in a full year. There was no mention of mortgage interest relief in Sinn Fein's pre-budget submission published last...

Written Answers — Department of Finance: Departmental Data (25 Apr 2023)

Michael McGrath: I am informed by Revenue that it does not collect information regarding the specific date of sale of cigarette packs. However, based on tobacco product stamp returns it can determine the numbers of cigarette packets assembled for sale in the State in a given year. The volume of packs in excess of 20 cigarettes assembled is provided in the table below in respect of the period requested by the...

Written Answers — Department of Finance: Tax Data (25 Apr 2023)

Michael McGrath: I propose to take Questions Nos. 208 to 210, inclusive, together. I am advised by Revenue that a shortfall in Local Property Tax (LPT) payments, deducted from Department of Social Protection (DSP) payments for 2021, occurred due to an IT systems miscalculation that resulted in the weekly deduction being calculated over 53 weeks rather than the standard 50 weeks. The systems error was unique...

Written Answers — Department of Finance: Tax Code (25 Apr 2023)

Michael McGrath: I can confirm that the zero rate of VAT will apply to all solar panels for private dwellings, including both water heating solar panels and electricity generating solar panels.

Written Answers — Department of Finance: Tax Code (25 Apr 2023)

Michael McGrath: As set out in Housing Policy Objective 15.2 of Housing for All, a new tax to activate vacant land for residential purposes, and which will in time replace the Vacant Site Levy, was enacted as a part of the Finance Act 2021. The Residential Zoned Land Tax (or ‘RZLT’) was included as a part of the Finance Act 2021. The tax measure, which will be levied at 3% of the market...

Written Answers — Department of Finance: Tax Credits (25 Apr 2023)

Michael McGrath: I propose to take Questions Nos. 213 to 216, inclusive, together. The Single Person Child Carer Credit (SPCCC) was introduced from 1 January 2014. It replaced the One- Parent Family Credit. By way of background, the 2009 Commission on Taxation reviewed the One-Parent Family Tax Credit. It acknowledged that the credit played a role in supporting and incentivising the labour market...

Written Answers — Department of Finance: Departmental Schemes (25 Apr 2023)

Michael McGrath: Following the resignation of all previous Disabled Drivers Medical Board of Appeal (DDMBA) members in November 2021, the process of re-establishing the Board has proved to be very challenging. The background to the process to date is set out below. With respect to the recruitment of new members, it should be noted that five members are legislatively required for a functional Board with a...

Written Answers — Department of Finance: Tax Yield (25 Apr 2023)

Michael McGrath: I am advised by Revenue that the total receipts collected from Betting Duty in 2021, and prior years, are published on the Revenue website at the following link: www.revenue.ie/en/corporate/information-about-revenue/statis tics/excise/receipts-volume-and-price/excise-receipts-commod ity.aspx The provisional Betting Duty receipts for 2022 are €102m. I am further advised by Revenue that...

Written Answers — Department of Finance: Customs and Excise (25 Apr 2023)

Michael McGrath: I am advised by Revenue that it has two cutters (patrol vessels) in service at the moment. One of those vessels is approaching the end of its service life and Revenue intends to purchase a replacement vessel. An application for partial funding under the ‘Union Anti-Fraud Programme (EUAF)’ towards the cost of a replacement cutter was submitted in 2022 and was successful. A...

Written Answers — Department of Finance: Consumer Rights (25 Apr 2023)

Michael McGrath: Where retailers accept a limited range of payment options, consumers should be informed of the payment options available in advance of a transaction. This can be achieved, for example, by displaying signs stating, “card not accepted” or “cash payment only” at the till and at the store entrance. However, unlike cash, which has legal tender status in Ireland,...

Written Answers — Department of Finance: Departmental Data (25 Apr 2023)

Michael McGrath: I am advised by Revenue that this information is not available as it is held at the employer level, forming part of the books and records of each business. However, section 897C of the Taxes Consolidation Act 1997, introduced by Finance Act 2022, provides for the mandatory reporting to Revenue by employers in respect of three specific measures, collectively referred to as...

Written Answers — Department of Finance: Tax Exemptions (25 Apr 2023)

Michael McGrath: I am advised by Revenue that there is an exemption from Capital Acquisitions Tax (CAT) where an individual inherits a dwelling house provided that the individual inheriting, meets certain qualifying conditions. The qualifying conditions include that the person: - has lived in the dwelling for a specified period before the inheritance - will continue to live in the dwelling for a specified...

Written Answers — Department of Finance: Departmental Contracts (25 Apr 2023)

Michael McGrath: I can advise the Deputy that my Department had two contracts with KPMG over the past 12 months with a total value of €110,000 (VAT exclusive) as detailed below: KPMG contract - description of services Contract value (VAT exclusive) Report on the cost and availability of finance for residential development. €80,000 ...

Written Answers — Department of Finance: Lobbying Reform (20 Apr 2023)

Michael McGrath: The Programme for Government contains a commitment to "extend the lobbying register so that the lobbying of senior officials in bodies such as the Central Bank of Ireland, Comreg, the NTA and the HSE which have significant policymaking or development functions will need to be reported on the same basis as central and local government." The intention is that this commitment will be...