Results 31,361-31,380 of 35,932 for speaker:Pearse Doherty
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I move amendment No. 32: In page 28, subsection (6)(b)(ii)(I), line 46, to delete "€63,500" and substitute "€119,800".
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: The proposal in terms of a contributor dipping into his or her pension is one we in Sinn Féin would have considered well over a year and half ago. As the Minister would know, many people would like to avail of this opportunity. However, we did not come forward with proposals to do so. One of the concerns we had was that the banks would use this as a way to access money that should be...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: My specific question is that if my pension policy was maturing next month, would I pay 41% if I was in the higher tax bracket as well as PRSI and USC on my pension reductions?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I would not pay PRSI on that income.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: One does not pay PRSI on pensions?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I would pay USC which would mean that I would pay a total of 48% on the amount.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Okay. One could pay between 48% and 51%. If, say, Johnny is due to retire next year, he would be pay between 48% and 51% on the amount drawn down and the Minister is facilitating him to dip into 30% of his AVC fund but only to pay 41% on the amount drawn down.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: That is incentivising people. We may have a debate about how marginal it is but it is not a case of equal in, equal out. If I was to retire next year and I had an AVC, it would be in my interest to withdraw 30% out now because I would be exempt from the USC on that amount.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Is there a danger that someone who is not aware of the debate on the Finance Bill will end up in the same situation? In three years time will they state the Government increased them dramatically?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: As stated, I appreciate the shock delivered to the system in 2011. However, it would not be prudent to leave this in its current form. There was sense to what happened in 2011 in the context of having a minimum retirement fund of €18,000, not €12,700. The absence of a sunset clause calls this into question. The Minister has reverted to the original pre-2011 figures. Why...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: In reducing the limits on the AMRF, approved minimum retirement fund, the Minister is forcing the amount currently in the fund into an ARF. Is that the case?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I have an example. The existing minimum amount is €119,000. If that is being reduced, €56,000 will be pushed into an ARF and then become laible to income tax. It means a person will be obliged to draw down a certain amount. These figures were increased in last year's Finance Bill. It means his or her tax liability will be increased as a result, but his or her minimum...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I appreciate and understand the rationale. It is not an area in which I am an expert. I am, however, concerned about this move. The AMRF takes into account the State pension which is approximately €12,000 a year. The new limit is about €12,700, a tiny amount of money. One would only need a very small additional sum to have the rest of one's money forced into an ARF which is...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Does this amendment contain a sunset clause?
- Other Questions: Garda Deployment (6 Mar 2013)
Pearse Doherty: To ask the Minister for Justice and Equality the number of Garda personnel whose specific role is the detection of crime, on a district basis for the years 2005, 2006, 2007, 2008, 2009, 2010, 2011 and 2012. [11571/13]
- Other Questions: Garda Deployment (6 Mar 2013)
Pearse Doherty: To ask the Minister for Justice and Equality the number of dedicated drug units operational in An Garda Síochána on a division by division basis for the years 2005, 2006, 2007, 2008 ,2009, 2010, 2011 and 2012. [11572/13]
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I will propose the amendment if the Minister will read the briefing note.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I understand what the Minister said in terms of the shock to individuals because of the drastic increase. The effect of this amendment will also be of benefit to the Exchequer because by pushing more money into ARFs it becomes applicable to the imputed distribution charge. This means those affected must pay tax on a certain proportion of it and therefore it will be of benefit to the Revenue...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I want to make a general point, but do not oppose the provision being made in this Bill. I appreciate there is a limited number of staff working on taxation measures and that there is pressure on them in terms of the Finance Bill. We got a very good briefing on the Bill earlier and I thank the officials for that. The Finance Bill is the Minister's own legislation and the majority of the...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Yes.