Results 341-360 of 1,683 for speaker:Derek McDowell

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: They are using the funds to buy assets which they are then enjoying. There is some restriction on that now.

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: I made positive remarks about this section on Second Stage and repeat them today. It is a well worked-out section. However, I am trying to figure out how it will work in terms of the capital allowances. My understanding is that only those who have historically built-up capital allowances from before we introduced the cap would be in a position to exceed half their income, based on the sort of...

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: Perhaps that is too jaundiced a view. I understand where Senator Henry and the other university Senators are coming from and the view they express.

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: I was watching the school children who were in the Visitors Gallery a few minutes ago and wondered what they were thinking. I am not sure they all had the presence of mind to appreciate that they were witnessing a seminal contribution from Senator Mansergh on the issue of equine sex. Certainly, the blank faces that were to be seen indicated they did not. There is no point covering this ground...

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: The report suggested that it did not make much difference in the greyhound industry.

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: Perish the thought.

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: Has the Minister been on to the Commission with a reply to the scheme?

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: The next ten sections or so deal with the termination dates of the various schemes. We are beyond the point at which some of the expenditure has been incurred, so I presume we have an idea about the number of new schemes that are likely to be sanctioned before the end of the scheme.

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: I am looking at the next ten sections. I do not expect the Minister to give this information if he does not have it, but how many schemes are likely to qualify between now and the end of the termination date?

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: I meant new projects rather than new schemes.

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: It is a relatively small number of projects.

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: The Minister has set out his priorities in an interesting way and I have no quibble with them. Can we take it that the commitment to reduce the higher rate of tax from 42% to 40% is also not a priority? I invite the Minister to go a little further in terms of the PAYE tax credit. In principle I do not have a difficulty with this, but there is a problem, as the Minister knows, with regard to...

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: We were commenting earlier on the ingenious nature through which the Cathaoirleach has ruled all my recommendations out of order. I do not propose to spend any more time on it.

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: What is the total number of taxpayers claiming tax relief on trade union subscriptions?

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: If one is claiming relief for interest on borrowings, one must be registered under the residential tenancies legislation. Assuming a taxpayer makes a claim on his or her annual return, is there a cross-check by the Revenue to see if the individual is registered with the Private Residential Tenancies Board?

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: Do the Revenue Commissioners cross-check the presented certification?

Seanad: Finance Bill 2006 [Certified Money Bill]: Committee and Remaining Stages. (29 Mar 2006)

Derek McDowell: While I do not wish to argue about it, I must say that I am somewhat frustrated. The amendments I proposed sought to restrict the amount of tax relief available to a small number of people who have large pension funds by reducing the amount of the standard pension that would be available as part of an ARF. The amendments I proposed sought specifically to reduce the €5 million threshold to...

Seanad: Finance Bill 2006 [Certified Money Bill]: Second Stage. (28 Mar 2006)

Derek McDowell: We must approach this matter from two angles. One involves what these incentives and reliefs sought to achieve. The other concerns the reason we stood back and examined them at this time, which is their effect on particularly high-earning taxpayers or non-taxpayers in some cases. I wish to start with the second angle. The scheme that the Minister and the Department have come up with in...

Seanad: Finance Bill 2006 [Certified Money Bill]: Second Stage. (28 Mar 2006)

Derek McDowell: I may change my mind.

Seanad: Finance Bill 2006 [Certified Money Bill]: Second Stage. (28 Mar 2006)

Derek McDowell: I am taking the brunt of it.