Results 4,441-4,460 of 33,118 for speaker:Paschal Donohoe
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: Only the employee contributions are.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: Revenue informs me that that risk is not there. The reason is that there was no limit to the size of the fund anyhow during the investment and growth phases. All funds are subject to the standard fund threshold which, as the Deputy knows, is currently €2 million. The Revenue assessment is that that risk is there at the moment anyhow and the change that we are making here does not...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: I notice there was no reference at all to the question I put to the Deputy as to whether he is aware of what happened in Berlin.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: When the Deputy refers to "supported tenancies"-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: Once the person has paid €2,500 euros in rent during the year that would then allow the person to claim back the €500 credit.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: Yes, it is the case that some tax practitioners have challenged the taxation of these arrangements. This change is to make completely clear what the situation is and to erase any doubt about it in the future. My officials inform me that there has not been a material ruling by the Tax Appeals Commission that has influenced what we are doing. The earlier part of the Deputy’s question...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: It will take effect from 1 January next. My officials are not aware of any cases relating to this matter that are in front of the Tax Appeals Commission at the moment.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: My understanding is that that risk is already there anyhow.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: There is no limit on the employer contribution.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: No.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: I am getting quite a detailed answer from my colleague.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: Exactly. I will turn it into a note for the Deputy and share it with him tomorrow, before we get to Report Stage.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: I understand the issue the Deputy-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: We will answer it tomorrow-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: -----on Committee Stage.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: I thank Deputy Mattie McGrath for tabling the amendment. I should begin by saying that I was a sales representative myself in the early parts of my career, before I entered into public life. Therefore, I have full appreciation of the importance of a car. I spent the first two years of my working life on the road in the United Kingdom selling various products to various retailers. I have a...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: I thank the Deputy. In terms of the tax treatment of supplementary pensions, as the Deputy is aware, Ireland operates an exempt-exempt-taxed, EET, system that is very similar to the majority of OECD countries. This means contributions to pensions are exempted from income tax, subject to certain limitations, and that pension fund gains are exempted from income tax but income from pension...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: The Deputy requested a report on the introduction of refundable tax credits to the income tax system, options for their design, associated costs and impact in addressing social and policy objectives such as reducing in-work poverty. By a refundable tax credit, I assume the Deputy means that where an income earner has insufficient income to use all of his or her tax credits, the unused...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2022: Committee Stage (Resumed) (15 Nov 2022)
Paschal Donohoe: As the Deputy and I have discussed over many exchanges, wealth can be taxed in a variety of ways, some of which are already levied in Ireland. Capital gains tax and capital acquisitions tax are, in effect, taxes on wealth in that they are paid by an individual or company on the disposal of an asset or the acquisition of an asset through gift or inheritance. Deposit interest retention tax is...