Results 3,101-3,120 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Departmental Consultations (20 Apr 2023)

Michael McGrath: It was not possible for my Department and a number of the bodies under the aegis of my Department to provide the information sought in the time available. These bodies are the Credit Review Office, Irish Bank Resolution Corporation, Financial Services and Pensions Ombudsman, Irish Financial Advisory Council and the National Treasury Management Agency. I will, therefore, make arrangements to...

Written Answers — Department of Finance: European Court of Human Rights (20 Apr 2023)

Michael McGrath: I propose to take Questions Nos. 196 and 204 together. I am aware of the recent judgment by the European Court of Human Rights in the case of L.B. v Hungary and Revenue and my Department are considering its implications for Ireland’s legislative framework which provides for publication of tax defaulters. There are significant differences between the Irish and Hungarian provisions for...

Written Answers — Department of Finance: Tax Residency (20 Apr 2023)

Michael McGrath: I am advised by Revenue that non-resident landlords are not obliged to arrange for a collection agent to undertake to make annual tax returns to the Revenue Commissioners on their behalf. Revenue can, however, deem a person resident in the State to be a collection agent for a non-resident person. The purpose of this provision is to ensure that the correct tax is collected from non-resident...

Written Answers — Department of Finance: Construction Industry (20 Apr 2023)

Michael McGrath: I propose to take Questions Nos. 198 to 200, inclusive, and 202 together. As the Deputy will be aware, the Housing for All plan aims to increase the supply of housing to an average of 33,000 homes per year, with an estimated development funding requirement of approximately €13.5 million per annum. This development funding will comprise both debt and equity, and will be deployed...

Written Answers — Department of Finance: Capital Expenditure Programme (20 Apr 2023)

Michael McGrath: Home Building Finance Ireland was set up by the Government in 2019 to provide funding directly to housebuilders to build homes for owner occupiers, renters and those in need of social housing. Since then, HBFI has provided funding of €1.25bn to fund 5,717 new homes across 21 counties. 68% of the funding provided to date is for houses and 32% for apartments. Over the last number...

Written Answers — Department of Finance: Tax Collection (20 Apr 2023)

Michael McGrath: The introduction of the Vacant Homes Tax follows from my Department's commitment under Housing for All to collect data on vacancy with a view to introducing a vacant property tax. The Finance (Local Property Tax) (Amendment) Act 2021 facilitated the collection on data on vacant property through Local Property Tax (LPT) returns. A preliminary analysis of the vacancy data was published by...

Vacant Homes Tax: Motion [Private Members] (19 Apr 2023)

Michael McGrath: I draw the Deputies' attention to the data compiled by the Revenue Commissioners. In total, 57,206 properties were indicated by their owners as being vacant as at 1 November 2021, according to the provisional analysis published by the Revenue Commissioners. It is interesting to look at the reasons for the vacancy. That information was sought by the Revenue Commissioners. About 22% of the...

Vacant Homes Tax: Motion [Private Members] (19 Apr 2023)

Michael McGrath: I thank the Deputies from the Social Democrats for raising this issue and tabling this motion. I reiterate that the Government wants to see vacant homes occupied. I agree with many of the points that have been made. These are properties that are already there and are fully serviced and habitable. If they are not habitable, they are derelict and do not fall under the vacant homes tax in...

Written Answers — Department of Finance: Legislative Measures (19 Apr 2023)

Michael McGrath: The strengthening of borrowers’ rights across the EU is one of the key purposes of the Credit Services Directive. The Credit Servicers Directive deals with the secondary market for non-performing loans. It lays down a common EU framework for the transfer and management of bank-originated non-performing loans which are transferred or sold after 29 December 2023. It provides for an...

Written Answers — Department of Finance: Disability Services (19 Apr 2023)

Michael McGrath: The Disabled Drivers and Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons as a driver or as a passenger and also to certain charitable organisations. In order to qualify for relief, the applicant must hold a...

Written Answers — Department of Finance: Tax Rebates (19 Apr 2023)

Michael McGrath: For donations to charities or “approved bodies” (such as certain educational institutions) and for donations to an approved sports bodies for funding of an approved project, in both cases the minimum donation which attracts tax relief is €250; the tax relief on either type of donation cannot exceed the amount of income tax paid by the donor; and where the taxpayer has...

Finance Bill 2023: Report Stage (Resumed) and Final Stage (18 Apr 2023)

Michael McGrath: The debate has morphed into whether you are for or against EVs. That is not the thrust of the issue we are discussing tonight.

Finance Bill 2023: Report Stage (Resumed) and Final Stage (18 Apr 2023)

Michael McGrath: That is not the issue at hand. The question is whether you agree that the BIK regime should apply differently depending on whether you have a 3 l diesel vehicle or a much more environmentally friendly vehicle, which does not have to be an EV. That is what the table provides for. We have categories A to E and the more you move towards categories C, D and E, the higher the rate of BIK is....

Finance Bill 2023: Report Stage (Resumed) and Final Stage (18 Apr 2023)

Michael McGrath: This debate is not about EVs and the amendment brought forward on Committee Stage is not about EVs.

Finance Bill 2023: Report Stage (Resumed) and Final Stage (18 Apr 2023)

Michael McGrath: The Deputies have made the debate all about whether somebody is for or completely against EVs and that is not the purpose of the issue. When this change was made back in 2019, many businesses changed the fleets of vehicles they had and they were incentivised to do so. I acknowledge that not all of them were in a position to do so and it was the employees who had to pay an extra price by way...

Finance Bill 2023: Report Stage (Resumed) and Final Stage (18 Apr 2023)

Michael McGrath: -----on 1 January. I refer to extra tax-----

Finance Bill 2023: Report Stage (Resumed) and Final Stage (18 Apr 2023)

Michael McGrath: -----in the form of BIK.

Finance Bill 2023: Report Stage (Resumed) and Final Stage (18 Apr 2023)

Michael McGrath: That is why I made an intervention, in the interests of fairness.

Finance Bill 2023: Report Stage (Resumed) and Final Stage (18 Apr 2023)

Michael McGrath: I looked at the range of examples of how this was impacting individuals. Some of the changes were significant and hurt people at a time when many people are struggling anyway. I acknowledge and accept that and that is why I have made the change. In the amendments, the Deputies are asking for us to sign up to the changes I have made permanently. I am not prepared to do that because it is...

Finance Bill 2023: Report Stage (Resumed) and Final Stage (18 Apr 2023)

Michael McGrath: I thank the Deputies from the Rural Independent Group for proposing these amendments. I also thank all the Deputies who contributed to the discussion. We had a detailed discussion on this issue on Committee Stage but I welcome the opportunity to go through the issue again and address the thrust of the amendments proposed by the Rural Independent Group. The amendments seek to extend...