Results 501-520 of 9,153 for speaker:Jack Chambers

Written Answers — Department of Finance: Tax Yield (5 Nov 2024)

Jack Chambers: I am advised by Revenue that the additional yield from increasing Stamp Duty on residential property with a value over €1 million to 6%, including all multi-unit purchases of houses and apartments, is estimated to be of the order of €60 million. This estimate is based on the latest available Stamp Duty returns for statistical analysis, where the consideration value is above...

Written Answers — Department of Finance: Tax Credits (5 Nov 2024)

Jack Chambers: Tax policy measure costings at the time of their introduction is set out in the Tax Policy Changes booklet published as part of the Budget Day documentation. The rent tax credit was originally introduced as part of Budget 2023. The estimated cost is set out in the Tax Policy Changes booklet, available at: www.gov.ie/en/publication/ccc22-budget-2023-taxation-measure s/ The measure was...

Written Answers — Department of Finance: Tax Data (5 Nov 2024)

Jack Chambers: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. I am informed by Revenue that they are unable provide a costing for changes to the SFT. Information on the numbers and values of individual pension funds or on...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: The following table sets out the numbers of approved Help to Buy claims for properties in Dublin in each of the years 2020 to 2024 to date, based on the date the claim was approved, as of 31 October 2024. Year Approved Claims 2020 1,159 2021 1,125 2022 1,080 2023 740 ...

Written Answers — Department of Finance: Tax Code (5 Nov 2024)

Jack Chambers: The Deputy may be aware that prior to 1 January 2023, where the combined contributions by an employer and an employee to the employee’s Personal Retirement Savings Account (PRSA) did not exceed the employee’s annual percentage limit (between 15% and 40% of “net relevant earnings”, varying depending on age, up to a maximum relieved salary of €115,000) the...

Written Answers — Department of Finance: Insurance Coverage (5 Nov 2024)

Jack Chambers: Securing a more sustainable and competitive market through deepening and widening the supply of insurance in Ireland is a key policy objective for this Government. It is recognised that a small number of sectors, including motorcycle sports, are currently facing difficulty in terms of affordability and availability of insurance. Government has therefore prioritised the implementation of the...

Written Answers — Department of Finance: Business Regulation (5 Nov 2024)

Jack Chambers: I propose to take Questions Nos. 261 to 263, inclusive, together. Sheriffs are Officers of the Court, holding office under Section 12 of the Court Officers Act, 1945. They are appointed by Government following public competitions held by the Public Appointments Service (PAS). Their debt collection activities, including seizure procedures, are covered by the Enforcement of Court Orders...

Written Answers — Department of Finance: Tax Clearance Certificates (5 Nov 2024)

Jack Chambers: I would note at the outset that my Department officials made several attempts to contact the Deputy's office to obtain clarification on the circumstances which prompted this question, but unfortunately did not receive a response. As such, the following outlines tax clearance procedures more generally, but should the Deputy wish to seek information on a specific matter concerning the current...

Written Answers — Department of Finance: Tax Collection (5 Nov 2024)

Jack Chambers: I propose to take Questions Nos. 265 and 266 together. There is no separate taxation regime specifically for Exchange Traded Funds (ETFs). How returns on investments in ETFs are taxed will depend on the domicile and nature of the ETF. Within the Taxes Consolidation Act 1997, there is a domestic fund regime which applies to all Irish domiciled funds, while the offshore funds regime applies...

Written Answers — Department of Finance: Departmental Staff (5 Nov 2024)

Jack Chambers: I can advise the Deputy that my Department adheres to the provisions of the Department of Public Expenditure, National Development Plan Delivery and Reform Circular 4/2013, which sets out the parameters of the Career Break Scheme. The number of civil servants in my Department who were on a career break in 2023 and 2024 are listed in Table A below, by Grade: Table A Summary...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: Section 128F of the Taxes Consolidation Act (“TCA”) 1997 provides for the Key Employee Engagement Programme ("KEEP”), which came into effect on 1 January 2018. The aim of the incentive is to support SMEs in Ireland in competing with larger enterprises to recruit and retain key employees, by way of a targeted share option programme. Where the provisions of section 128F TCA...

Written Answers — Department of Finance: Tax Reliefs (5 Nov 2024)

Jack Chambers: I am advised by Revenue that the costs of the Section 23 allowance (‘Rented Residential Relief' ) in 2007 and 2008 are set out in the Cost of Tax Expenditures publication, which is available on the Revenue website at www.revenue.ie/en/corporate/information-about-revenue/statis tics/tax-expenditures/costs-expenditures.aspx The figures are as follows: €133.6 million in 2007 and...

Written Answers — Department of Finance: Civil Service (5 Nov 2024)

Jack Chambers: I wish advise the Deputy that my Department adheres to the provisions of the Department of Public Expenditure, National Development Plan Delivery and Reform Circular 4/2013 when granting approval, and or extension of career breaks to staff. The Career Break Scheme allows staff flexibility in managing their professional and personal lives and are granted to staff in line with the...

Written Answers — Department of Finance: Insurance Coverage (5 Nov 2024)

Jack Chambers: Firstly, I wish to assure the Deputy that I am aware of the issue of access to certain insurance services for individuals who have recovered from a serious illness. This is a very sensitive matter for many in our community and one that my Department monitors closely. Officials in my Department engage regularly with Insurance Ireland – the official industry body – on a range...

Written Answers — Department of Finance: Vehicle Registration Tax (5 Nov 2024)

Jack Chambers: As the Deputy will be aware, all motor vehicles in the State must be registered within 30 days of their date of entry at which point Vehicle Registration Tax (VRT) is charged. Passenger vehicles with more than ten seats are designated as EU Category M2. As such, they fall into the definition of a Category C vehicle, under Section 130 of the Finance Act 1992 (as amended). Under Section 132 of...

Written Answers — Department of Finance: Revenue Commissioners (5 Nov 2024)

Jack Chambers: I am advised by Revenue that, while there is no record of the correspondence referenced in the details supplied having been received by Revenue in March 2024, the certificate for the individual’s estate was issued on 29 October 2024 following a request received on 24 October 2024 from the solicitor acting. Revenue have further advised that should the executor or their solicitor...

Written Answers — Department of Finance: Insurance Industry (5 Nov 2024)

Jack Chambers: As the Minister for Finance overseeing the legal framework governing financial services regulation, including the insurance sector, I must emphasise that the provision of insurance cover, particularly in the area of travel insurance, is primarily a commercial matter determined by insurers. Accordingly, the EU Solvency II Directive dictates that neither the Government nor the Central Bank can...

Written Answers — Department of Finance: Fuel Prices (5 Nov 2024)

Jack Chambers: Ireland’s tax law provides for the application of excise duty, in the form of Solid Fuel Carbon Tax (SFCT) to the first supply of coal and peat in the State. Current SFCT rates are available on the Revenue website at: www.revenue.ie/en/companies-and-charities/excise-and-licence s/energy-taxes/solid-fuel-carbon-tax/rate-of-tax.aspx. Solid fuel supplies also attract VAT at a rate of...

Written Answers — Department of Finance: Tax Exemptions (5 Nov 2024)

Jack Chambers: The proposed exemption in respect of CervicalCheck payments is provided for under section 30 of Finance Bill 2024, as initiated. Subject to the enactment of the Bill, this section provides an exemption from Income Tax, Capital Gains Tax and Capital Acquisitions Tax on certain payments made to women who have been impacted by the failures in the CervicalCheck national screening programme. ...

Written Answers — Department of Finance: Tax Exemptions (5 Nov 2024)

Jack Chambers: I am advised by Revenue that where parents provide financial assistance to their children, including financial assistance to fund an extension or home improvements to the child’s primary residence, such financial assistance may come within the scope of Capital Acquisitions Tax (CAT). CAT is a tax on gifts and inheritances payable by the person receiving the gift or inheritance (the...