Results 43,261-43,280 of 46,456 for speaker:Simon Harris

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: Yes. What we have done in this Bill, which we had not done previously and which comes back, I suppose, to the heart of Deputy Michael McGrath's comments earlier about the EU state aid, is limit the tax relief for commercial activity to €200,000, which is an important component in seeking approval.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: It depends on how one defines living. If one wants someone to live in a community, he or she must be able to avail of local services. There are many parts of cities that have run down and derelict buildings. We need people to live within communities where they can function and be sustained. The concept of this, as I outlined in my comments, is not to provide relief for large-scale...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: Yes. However, it is capped at the €200,000 relief, which has not existed previously. Section 372AAC deals with commercial premises and capital allowances for the conversion or refurbishment of certain commercial premises. There has always been a standalone provision.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I thank Deputy McGrath for his two amendments which, as I understand them, break down as suggestions. The first suggestion is that the residential element of the relief be broadened out to those who are not ordinarily resident in the property and the second is that the application of the relief be broadened out beyond the six cities which the Minister for Finance currently has in mind. On...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: The passage of this Bill is an important step in terms of approval for this initiative from the European Commission under state aid rules. When the pilot initiative was announced by the Minister he made it clear that it was dependent on an independent cost-benefit analysis and approval from the European Commission under state aid rules. The cost-benefit analysis has been completed recently...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: The Government works very hard for Bray every day. We are going to be very cautious in the implementation of tax relief in the property area. The concept is regeneration of cities in respect of which, as articulated by Deputy Michael McGrath, populations therein are declining. The purpose of this initiative is to bring our cities back to life. Thankfully, this decline is not evident in...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I recall that the Deputy raised this issue during the Second Stage debate. He is suggesting that the living part of the initiative is at risk of being diluted in some way. His amendment appears to have been designed to reinstate this element as well as deleting the requirement that claimants, under the commercial element of the initiative, must provide certain information to Revenue before...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: No, he has not outlined it yet. It was in his budget speech, but the detail of it has not yet been outlined.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I will seek an update and revert to the Chairman. On budget day the Minister indicated he hopes to do this in the coming months.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: We aim to have a public consultation early next year, but I will revert to the committee as I know members will have a keen interest in it. I understand the points made by Deputy Doherty. Quite rightly, he can list a number of examples of time limits for various initiatives and taxation measures. The Minister has taken the view there is no need to do so for this measure. It has been very...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: Land zoned for housing and with planning permission in the Dublin area.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I am sure we will return to it.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I agree with much of what Deputy McGrath has said. He is right to ask how this provision will ensure that land is actually utilised and not left idle. In response, I refer him to the Minister's speech on budget day where he indicated that he plans to launch a public consultation process shortly on the issue of incentivising the use of currently unused land. This will relate to land zoned...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I move amendment No. 50: In page 46, between lines 5 and 6, to insert the following:“Amendment of section 267M of Principal Act (tax rate applicable to certain deposit interest received by individuals) 21. Section 267M of the Principal Act is amended in subsection (2)—(a) in paragraph (a) by deleting “and subject to paragraph (b)”, and (b) by deleting paragraph...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I move amendment No. 51: In page 46, line 7, to delete “Section 481 of the Principal Act” and substitute “Section 481 of the Principal Act (as amended by section 21 of the Finance Act 2013)”.With the Chairman's permission, I propose to take amendments Nos. 51, 52, 98 and 99 together as they all relate to the changes being made to the film relief scheme in section...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I move amendment No. 52: In page 46, between lines 33 and 34, to insert the following:“(2) This section comes into operation on such day as the Minister for Finance may appoint by order.”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I move amendment No. 55: In page 48, between lines 35 and 36, to insert the following:“(d) in section 492(3) by substituting “4 years” for “3 years”,”.One of the changes the Minister for Finance is making to the employment and investment incentive is to increase the minimum holding period for shares from three to four years. Section 492 of the Taxes...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I can. The Deputy's amendments were ruled out of order but I will respond to the broader points that he has raised. The Deputy wanted consideration to be given to the effect of increasing the minimum holding period for shares from four to five years. The EII scheme is targeted at job creation and retention and is available to the majority of small and medium-sized trading companies. The...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I move amendment No. 56: In page 49, between lines 25 and 26, to insert the following:“Amendment of Chapter 3 of Part 38 of Principal Act (other obligations and returns) 25. The Principal Act is amended in Chapter 3 of Part 38 by inserting the following after section 891E:“Returns of certain information by financial institutions 891F. (1)This section provides for the collection...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Simon Harris: I move amendment No. 47: In page 45, between lines 24 and 25, to insert the following:“ ‘relevant completion’ means the completion of the construction of a new dwelling, on or after 14 October 2014 and on or before 31 December 2017, to a standard where it is suitable for immediate occupation as a dwelling and the dwelling⁠— (a) has been built directly or...