Results 4,721-4,740 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (19 Nov 2009)

Brian Lenihan Jnr: The position is that section 470A of the Taxes Consolidation Act 1997 provides for tax relief, similar to that currently available for medical insurance, in respect of premiums on qualifying insurance policies designed to provide cover, in whole or in part, for future care needs of individuals who are unable to perform at least two activities of daily living or are suffering from severe...

Written Answers — Tax Code: Tax Code (19 Nov 2009)

Brian Lenihan Jnr: The position is that section 465 of the Taxes Consolidation Act 1997 provides for a tax credit of €3,660 for the tax year 2009 where the claimant has living with him or her any child who, at any time during the relevant tax year to which the claim refers - (a) is under the age of 18 years and is permanently incapacitated by reason of mental or physical infirmity, or (b) if over the age of...

Written Answers — Tax Code: Tax Code (19 Nov 2009)

Brian Lenihan Jnr: Section 467 of the Taxes Consolidation Act 1997, provides for a tax deduction at an individual's highest rate of tax in respect of the costs incurred by that individual of employing another person (including a person whose services are provided by or through an agency) to take care of him/herself, a spouse or a relative who, throughout the relevant tax year, is totally incapacitated by reason...

Written Answers — Tax Code: Tax Code (19 Nov 2009)

Brian Lenihan Jnr: The position is that section 466 of the Taxes Consolidation Act 1997 enables an individual to claim the dependent relative tax credit, currently €80 for a tax year if, in that tax year, the claimant maintains at his/her own expense: (a) a relative of the claimant or of the claimant's spouse, who is incapacitated by old age or infirmity from maintaining himself/herself; or (b) the widowed...

Written Answers — Tax Code: Tax Code (19 Nov 2009)

Brian Lenihan Jnr: The position is that, under the provisions of section 468 of the Taxes Consolidated Act 1997, an individual is entitled to the blind person's tax credit for a tax year during which he or she is blind. An individual may also claim a similar tax credit in respect of his or her spouse where the spouse is blind and the couple is jointly assessed to income tax for the relevant tax year in respect...

Written Answers — Tax Code: Tax Code (19 Nov 2009)

Brian Lenihan Jnr: The tax concessions available under the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme for a qualifying person are as follows. For a disabled driver, the relief (from VRT and VAT) is a maximum of €9,525, with excise relief on up to 600 gallons (2728 litres) of fuel per annum. For a disabled passenger the relief (from VRT and VAT) is a maximum of €15,875, with excise...

Written Answers — Departmental Reports: Departmental Reports (19 Nov 2009)

Brian Lenihan Jnr: A special interdepartmental review group reviewed the operation of the disabled drivers scheme. It examined the current benefits, the qualifying medical criteria, the Exchequer costs, relationship with other schemes and similar schemes in other countries. The report also made a number of recommendations, both immediate and long-term, referring respectively to the operation of the appeals...

Written Answers — Tax Code: Tax Code (19 Nov 2009)

Brian Lenihan Jnr: It is assumed that the threshold for the proposed new tax band mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2010 incomes, of the introduction of a new 48%...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (19 Nov 2009)

Brian Lenihan Jnr: As the Deputy will be aware the purpose of the bank guarantee scheme is to maintain, in the public interest, the stability of the financial system in the State by providing guarantees for deposits and other funding held by credit institutions operating in the State. In other words, money owed by the banks has been guaranteed. Home mortgages or other loans issued by the covered institutions...

Written Answers — Tax Code: Tax Code (19 Nov 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that statistical data is not available to provide a basis for estimating the precise information requested by the Deputy. However, with regard to the value of all goods and services liable to VAT, I would point out that goods and services at the zero rate of VAT account for approximately 10% of all goods and services subject to VAT, while around 39%...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (19 Nov 2009)

Brian Lenihan Jnr: I do not have the information the Deputy requests. However, I have not received any reports that there is anything unusual regarding the volume of cheques being returned by the covered institutions, now or since the introduction of the bank guarantee scheme last year.

Written Answers — Consumer Price Index: Consumer Price Index (19 Nov 2009)

Brian Lenihan Jnr: The Central Statistics Office (CSO) produces a single Consumer Price Index (CPI), and does not produce a price index by head of household type or by household income. The CSO determines the Consumer Price Index (CPI) using average weights constructed with reference to the 2004-05 Household Budget Survey (HBS). Using generally recognised techniques, my Department has examined the impact of...

Written Answers — Tax Collection: Tax Collection (19 Nov 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 81 and 82 together. The Supplementary Budget forecast total taxes in 2009 of €34.4 billion. With regards to Income Tax specifically, the Supplementary Budget forecast that €12.5 billion in Income Tax receipts would be collected in 2009, of which approximately €1.1 billion would come from the Income Levy. The Pre-Budget Outlook forecast that tax revenues...

Written Answers — Public Service Pay: Public Service Pay (19 Nov 2009)

Brian Lenihan Jnr: The table shows technical projections of the Public Service pay bill, for pay and pensions, from 2009 to 2012 underlying the figures contained in the Pre-Budget Outlook (PBO) published by the Department of Finance on 12 November. 2009 2010 2011 2012 €m €m €m €m Gross Pay & Pensions Bill 19,834 19,859 19,944 19,966 Net Pay & Pensions Bill 18,394 18,299 18,377 18,396 The...

Written Answers — Fiscal Policy: Fiscal Policy (19 Nov 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the information requested by the Deputy is as follows in respect of the income tax years 2010. Project Distribution of Income Earners for 2010 Tax year Exempt(Standard rate liability fully covered by credits or Age Exemption Limits) Paying tax at the standard rate (including those whose liability at the higher rate is fully offset by credits)...

Written Answers — Fiscal Policy: Fiscal Policy (19 Nov 2009)

Brian Lenihan Jnr: Table 6 of the Pre-Budget Outlook sets out the technical budgetary projections for the 2009-2010 period, based on the assumed €4 billion fiscal adjustment being achieved in 2010. On that basis the General Government deficit is stabilised at 12% of GDP and overall Central Fund expenditure of €7.4 billion is factored in. The bulk of this amount relates to debt interest costs, an estimate of...

Written Answers — Fiscal Policy: Fiscal Policy (19 Nov 2009)

Brian Lenihan Jnr: In the Pre-Budget Outlook recently published by my Department GNP and GDP for 2009 is assumed to contract in real terms by 101⁄2 per cent and 71⁄2 per cent respectively. Predicated on the global economic recovery taking hold, positive real annual growth has been assumed from the second half of 2010 onwards. By 2012 real growth of 4 per cent in GNP terms and 41⁄2 per cent in GDP terms...

Written Answers — Tax Collection: Tax Collection (19 Nov 2009)

Brian Lenihan Jnr: Information in relation to taxes on housing is available in respect of value added tax on new housing and the maintenance and repair to all housing and in respect of stamp duty on residential and commercial property. More limited information is available in relation to Capital Gain Tax on residential and commercial property. The estimated yield are as follows: VAT Year New housing Housing...

Written Answers — Tax Collection: Tax Collection (19 Nov 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the relevant historical information available relates to the income tax liability of the top 5% of income earners as derived from income tax returns filed for the income tax years 2000/01 to 2007, the latest year for which such information is available. On this basis the information requested by the Deputy is set out as follows: Top 5% of Income...

Written Answers — Tax Collection: Tax Collection (19 Nov 2009)

Brian Lenihan Jnr: The following tables provide a breakdown of the estimated cost of tax and PRSI reliefs relating to private pension contributions for 2006 and 2007, the latest year for which the most up-to-date data is available. The 2007 figures represent an update of the relevant 2006 cost estimates set out in table 7.2 of the Green Paper on Pensions published in the Autumn of 2007. Figures have been...