Results 3,181-3,200 of 35,540 for speaker:Pearse Doherty

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I would appreciate that because I would be interested to learn how many properties that are not high-end properties are now charging over €3,300 per month. If the Minister could get those data, it would be helpful. There is obviously a reason this is being done. There is a €10,000 increase and as the Minister said, this follows on from an increase a number of years ago. It...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: How is that being implemented? Is it like a scenario where it is not a lease agreement as such but somebody has a continuous lease over many years? We rented our house for decades. That was just the way it was. In rural communities, there will be people who rent their house from the same person and spend their lives there so is it the case that if they continue to stay in that house for...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: The Department has run a public consultation on the future of the bank levy that took place earlier this year so we are expecting further changes in the coming year, including possibly the number of entities that would come under its scope. I invite the Minister to say a few words on that or set out his current thinking regarding how the bank levy will apply beyond 2024. Will it only apply...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I have an amendment later but I will not speak to it because it is broadly in line with what we are discussing here. My amendment looks for a report and I am conscious that work is being done in the Department. The report has not been published yet. The Minister has said that he will possibly consider the scope of it over 2024 or 2023. When will the report be published? One of the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I move amendment No. 33: In page 90, between lines 1 and 2, to insert the following: “Report on the Banking Levy 71.The Minister shall, within six months of the passing of this Act, prepare and lay before Dáil Éireann a report on the banking levy and, in particular, the effective rate of the levy relative to the net interest income and operating profits of in-scope...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: Section 71 provides for a stamp duty exemption on the transfer of Irish shares where they are dealt on a recognised stock exchange, particularly in the USA, Canada or elsewhere. I thought it would be appropriate when dealing with this section that I would invite the Minister to give his view and that of his Department on this measure, in the first instance, and the discrepancy between this...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I have a brief question about this section, which I welcome. It deals with the issue of capital acquisitions tax, CAT, for foster children and the fact it will apply in the same way as it would apply to a child from a parent and from a sibling - from the foster brother or sister to the foster child. There obviously must be criteria involved in this. The only question I have is on...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I can understand that. The legislation must obviously capture the part where the child is a child as opposed to an adult and where that relationship is formal and all the rest, but the tax point of view is where we can intervene. If that relationship is there for five years, some of it may be as a child where there is a fostering relationship and then if it continues. I am aware it is only...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: Exactly. It is the reality. There will not be a CAT-chargeable event if somebody is not connected to the family any longer.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: That is good to hear. I will take the officials’ word on that. The section reads: "for periods which together comprised at least 5 years falling within the period of 18 years immediately following the birth of the first-mentioned person". I took that to mean that it would have to be five years.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I would be happy to get a note on this before Report Stage, if that is okay.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I would appreciate that.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: Will the Minister take me through the issue of interest-free loans in terms of capital acquisitions tax? Where an interest-free loan, or a combination of such loans, from a parent to a child exceeds the category A threshold of €335,000, it will now have to be reported. Is it that the portion above the threshold falls under capital acquisitions tax at that point? What calculations...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: The threshold for reporting a loan or combination of loans is €335,000. Is that from all sources of loans, for example, a parent? Is that how it will work?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: The category A threshold is €335,000, but what about the calculation of capital acquisitions tax? If the concern is that it may be calculated inappropriately by the individuals themselves and they are putting it at a low interest rate, why is there a threshold of €335,000? If someone got a €200,000 loan from a parent and interest of 2% or the like was forgone-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: Will the Minister outline the changes being made under this section as regards agricultural relief and the rationale for them?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: I will talk to the Minister about one part of the clawback provision. The leasing of the agricultural property to a farmer within six years of the gift of inheritance is not considered a disposal that would give rise to the clawback of the relief. The existing reliefs support the transfer of farmland to active farmers. What are the Minister's views on this provision, which, if I am...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: This section changes the requirement for individuals to file an annual tax return if they open a foreign bank account if they are not required to file a tax return for other matters. Will the Minister outline the Department's rationale for this amendment?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Pearse Doherty: This is a small amendment. I have no issue with removing the reference to "the Minister for the Environment” and substituting “the Minister for Transport”. However, I will take this opportunity to speak about wider issues. This committee has dealt with the issue of the disabled drivers and disabled passengers scheme. We have heard from the Ombudsman. It is an...