Results 481-500 of 9,090 for speaker:Jack Chambers

Written Answers — Department of Finance: Tax Yield (24 Oct 2024)

Jack Chambers: I am advised by Revenue that it is not in a position to identify the specified revenues collected due to the way in which incomes and gains are recorded and liabilities are calculated on tax returns. However, I am bringing forward amendments in this year's Finance Bill to provide for exemptions from Income Tax, Capital Gains Tax and Capital Acquisitions Tax for payments made to women...

Written Answers — Department of Finance: Tax Yield (24 Oct 2024)

Jack Chambers: On the 9 August 2024, the Government approved a scheme of ex-gratia redress payments for the families of the 48 deceased victims of the Stardust fire. I am advised that no individual has received payments from the Stardust ex-gratia payment scheme yet, as such, no revenue has been collected as a result of payments under this scheme.

Written Answers — Department of Finance: Tax Code (24 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 118, 119, 120, 121, 122, 123, 124, 125, 126 and 127 together. I am advised by Revenue that, following the announcement of Budget 2025 on 1 October 2024, Revenue is in the process of updating its income tax estimates model to take account of these changes. Once finalised, Revenue will publish an update of the Ready Reckoner, which enables calculation of the...

Written Answers — Department of Finance: Tax Code (24 Oct 2024)

Jack Chambers: I am advised by Revenue that the cost of increasing the Capital Acquisitions Tax group A threshold to €500,000, €550,000 and €600,000 and it is set out in table below. Table 1: Capital Acquisitions Tax Group A Group A Cost €500,000 €66m €550,000 €88m ...

Written Answers — Department of Finance: Tax Code (24 Oct 2024)

Jack Chambers: I am advised by Revenue that the cost of increasing the Capital Acquisitions Tax group B threshold to €50,000, €60,000, €70,000 and (iv) €75,000 is set out in the table below. Table 1: Capital Acquisitions Tax Group B Group B Cost €50,000 €30m €60,000 €53m ...

Written Answers — Department of Finance: Tax Code (24 Oct 2024)

Jack Chambers: I am advised by Revenue that the cost of increasing the Capital Acquisitions Tax group C threshold to €30,000, €40,000 and €50,000 is set out in the table below. Table 1: Capital Acquisitions Tax Group C Group C Cost €30,000 €9m €40,000 €15m ...

Written Answers — Department of Finance: Tax Reliefs (24 Oct 2024)

Jack Chambers: The Help to Buy incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax paid in the State over the previous four years, subject to limits outlined in the legislation. I am advised by Revenue that the annual cost of the Help to Buy scheme is set out...

Written Answers — Department of Finance: Tax Reliefs (24 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 132 and 133 together. The annual cost of the Help to Buy scheme is set out in the Cost of Tax Expenditures publication, which is available on the Revenue website at: For 2023, there were 7,000 claims for Help to Buy with a total cost of €185 million, resulting in an average cost of €26,400. To address the scenarios outlined by the Deputy:...

Written Answers — Department of Finance: Tax Reliefs (24 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 134 and 135 together. The annual cost of the Help to Buy scheme is set out in the Cost of Tax Expenditures publication, which is available on the Revenue website at: For 2023, there were 7,000 claims for Help to Buy with a total cost of €185 million, resulting in an average cost of €26,400. To address the scenarios outlined by the Deputy:...

Written Answers — Department of Finance: Tax Reliefs (24 Oct 2024)

Jack Chambers: I propose to take Questions Nos. 136 and 137 together. I am advised by Revenue that it is not possible to estimate the costs for the changes to the rent a room scheme as suggested by the Deputy. Taxpayers with rental income in excess of the current rent-a-room limit are taxed on their entire rental income in the normal way. It is not possible for Revenue to identify which taxpayers with...

Written Answers — Department of Finance: Tax Yield (24 Oct 2024)

Jack Chambers: As I announced on Budget Day I am introducing a domestic tax on e-cigarettes on public health grounds. The tax will apply to all e-liquids at a rate of 50c per ml of e-liquid. Due to the operational and administrative challenges associated with this measure it will not commence until the middle of next year. While it is difficult to determine the exact yield the e-liquid products tax...

Written Answers — Department of Finance: Tax Yield (24 Oct 2024)

Jack Chambers: I am advised by Revenue that the estimated yield from increasing the rate of excise duty on cigarettes by 50c is published on page 25 of the Ready Reckoner. The Ready Reckoner enables calculation of the cost or yield arising from a range of potential changes to tax charges and is available on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statis...

Written Answers — Department of Finance: Tax Code (24 Oct 2024)

Jack Chambers: In relation to the Deputy's request for a revision of the Capital Acquisitions Tax (CAT) tax-free thresholds and the example provided in regards to a couple who do not have children but wish to leave property to their niece or nephew, the following reliefs/exemptions are available for the purposes of CAT. Capital Acquisitions Tax (CAT) is a tax which applies to both gifts and inheritances....

Written Answers — Department of Finance: Tax Reliefs (24 Oct 2024)

Jack Chambers: I am advised by Revenue that the table below provides the requested data on claims approved since 1 July 2020, as of 19 October 2024. This table contains information on the number of approved Help to Buy (HtB) claims, the number of applicants associated with these claims, the number of approved HtB claims in respect of the purchase of new houses or apartments, and the number of approved HtB...

Written Answers — Department of Finance: Mortgage Resolution Processes (24 Oct 2024)

Jack Chambers: I can inform the Deputy that the Central Bank of Ireland publishes quarterly mortgage arrears statistics on its website that provide detailed information on the volume and status of mortgage accounts in arrears. The latest statistics published by the Central Bank relate to the mortgage arrears position as at June 2024. These statistics show that the number of principal dwelling house...

Written Answers — Department of Finance: Tax Code (23 Oct 2024)

Jack Chambers: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a...

Written Answers — Department of Finance: Tax Code (23 Oct 2024)

Jack Chambers: I am advised by Revenue that the VAT rating of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In general, the EU VAT Directive provides that all goods and services are liable to VAT at the standard rate, unless they fall within the categories of goods and services specified in Annex III of the VAT Directive, in respect of which Member States may apply a...

Written Answers — Department of Finance: National Asset Management Agency (23 Oct 2024)

Jack Chambers: A breakdown of residential development land secured to NAMA’s remaining portfolio is provided in the table below. The table outlines housing units which are currently under construction, which will be completed in 2024/2025, before NAMA concludes at end-2025. The table also includes key residential development sites under asset management by NAMA, units with planning permission in...

Written Answers — Department of Finance: Illicit Trade (23 Oct 2024)

Jack Chambers: I am advised by Revenue that it uses a range of measures to tackle the sale of illicit cigarettes, including online sales. At the core of these measures is identifying and targeting the smuggling of illicit tobacco products into the State, with a view to disrupting the supply chain, seizing the products and, where possible, prosecuting those involved. Revenue’s strategy involves...

Written Answers — Department of Finance: Insurance Coverage (23 Oct 2024)

Jack Chambers: As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including for the insurance sector. In terms of the challenges associated with obtaining flood cover, please be aware that the provision of such cover is a commercial matter for insurance companies, based on an actuarial assessment of the risks they are...