Results 5,661-5,680 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Yield: Tax Yield (6 Oct 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the yield to the Exchequer from increasing the health contribution rate by three percentage points on incomes in excess of €100,000 is estimated at €205m in a full year. The figure is an estimate from the Revenue tax-forecasting model using actual data for the year 2007 adjusted as necessary for income and employment trends for the year...

Written Answers — Tax Yield: Tax Yield (6 Oct 2009)

Brian Lenihan Jnr: It is presumed the Deputy is referring to the current annual earnings cap of €150,000, which operates to limit the level of tax-relieved personal pension contributions in any one year. The annual earnings cap acts, in conjunction with age-related percentage limits of annual earnings, to put a ceiling on the annual amount of tax relief an individual taxpayer can obtain on pension...

Written Answers — Tax Yield: Tax Yield (6 Oct 2009)

Brian Lenihan Jnr: It is assumed that the Deputy is referring to the abolition of the tax relief on future expenditure in relation to the following property based tax incentive schemes that remain in the tax code: *Convalescent Homes *Qualifying (Private) Hospitals *Qualifying Mental Health Centres Qualifying Specialist Palliative Care Units (subject to Commencement Order) Buildings used for Childcare Purposes...

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: The termination of most of the remaining property-related capital allowance schemes was announced in my Supplementary Budget speech in April last and was provided for, subject to transitional arrangements, in Finance Act 2009. As a result, the only remaining property-related capital allowance schemes are as follows: - Qualifying specialist Palliative Care Units (subject to commencement order)...

Written Answers — Tax Yield: Tax Yield (6 Oct 2009)

Brian Lenihan Jnr: The level at which interest repayments can be claimed against tax for residential rental properties was reduced from 100% to 75% in section 5 of the Finance Act 2009 at an estimated full year yield of €95 million. On this basis the saving from full abolition of the tax relief would be of the order of € 285 million in a full year.

Written Answers — Tax Yield: Tax Yield (6 Oct 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the yield to the Exchequer from increasing the DIRT rate by five percentage points is estimated at €145m in a full year.

Written Answers — Tax Yield: Tax Yield (6 Oct 2009)

Brian Lenihan Jnr: It is assumed the Deputy is referring to Betting Duty. The amount of Betting Duty paid in 2008 was €36.6m and the estimated yield in 2009 is around €31m. As the rate of Betting Duty in those years was 1 per cent, one could at first glance assume that the yield from a 10 per cent rate would be in the order of ten times those amounts. However, such a figure would not be realised. It is...

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: The on-course levy currently stands at zero having been reduced from a rate of 5% in 1999. It was reduced in the context of the reduction in the off-course duty at that time and the importance of supporting attendances at race meetings. The issue of re-introducing a tax on on-course betting is not under consideration at present.

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the estimated full year gain from increasing the capital gains tax rate for individuals to 50 per cent could be in the region of €140 million, assuming no significant behavioural change on the part of the affected taxpayers. As CGT is very dependent on individual behaviour, any change in rate may not produce a corresponding increase or...

Written Answers — Pension Provisions: Pension Provisions (6 Oct 2009)

Brian Lenihan Jnr: The National Pensions Reserve Fund (NPRF) was established on 2 April 2001 under the National Pensions Reserve Fund Act 2000 with the objective of meeting as much as possible of the cost to the Exchequer of social welfare pensions and public service pensions to be paid from the year 2025 until at least 2055. The National Pensions Reserve Fund Commission — who control and manage the Fund —...

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: The position is that a person in receipt of rental income is assessed for income tax on the net amount of the rents received (i.e. the gross rents less allowable expenses incurred in earning those rents). In computing the net amount of the rents received, only those deductions that are specified in section 97(2) of the Taxes Consolidation Act 1997 are allowable. The main deductible expenses...

Written Answers — Departmental Properties: Departmental Properties (6 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 381 and 382 together. I am advised by the Revenue Commissioners that they are currently renting 7,434 sq. ft of warehouse space at Promenade Road, Dublin 3 on a short term basis from Blackhorse Transport Services Ltd. at a rent of €16,400 per month. The Office of Public Works has been asked to secure alternative accommodation in the area. The Office of...

Written Answers — Ministerial Correspondence: Ministerial Correspondence (6 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 383 and 384 together. I responded directly to the correspondence in question on 30 September 2009. I do not accept that Government support of an institution provides any argument in favour of any particular group. In fact, taxpayers will naturally look to bank employees to understand and respond to the financial situation in which these institutions find...

Written Answers — Secretarial Allowances: Secretarial Allowances (6 Oct 2009)

Brian Lenihan Jnr: The nature of the Special Secretarial Allowance (SSA) scheme available to Members of the Oireachtas and the purposes to which it applies are set out as follows. There are four options available to TDs under the SSA scheme as follows: (i) a Parliamentary Assistant supplied and employed by the Oireachtas Commission, or (ii) two TDs may opt to combine and have a higher level staff member...

Written Answers — Public Service Staff: Public Service Staff (6 Oct 2009)

Brian Lenihan Jnr: The information which the Deputy has sought will require collation. The information will be provided to the Deputy by my Department as soon as possible.

Written Answers — Public Service Staff: Public Service Staff (6 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 387 to 389, inclusive, together. The figures for the Voted component of current expenditure, including the Exchequer Pay and Pensions Bill, in the attached tables are presented in net expenditure terms, which is the only full monthly breakdown available. These figures are formally returned to the Department of Finance five working days after the end of the...

Written Answers — Public Service Staff: Public Service Staff (6 Oct 2009)

Brian Lenihan Jnr: The table presents figures for the pension-related deduction on public service remuneration and the Exchequer balance at the end of each month. The pension-related deduction is presented on a monthly basis. The pension-related deduction on remuneration is not classed as a tax receipt; it is, for the most part, received by Departments as an appropriation-in-aid. These figures are returned by...

Written Answers — Departmental Staff: Departmental Staff (6 Oct 2009)

Brian Lenihan Jnr: The area for which I have direct responsibility is the civil service. A Disciplinary Code for civil servants is set out in Circular 14/2006: Civil Service Disciplinary Code revised in accordance with the Civil Service Regulation (Amendment) Act 2005.The Code came into effect on 4 July 2006 and replaced the previous Code as set out in Circular 1/92. The Civil Service Regulation (Amendment)...

Written Answers — Departmental Staff: Departmental Staff (6 Oct 2009)

Brian Lenihan Jnr: In the civil and public service, Cost Neutral Early Retirement (CNER) has been available since 1 April 2004 for individuals who wish to retire with immediate pension up to 10 years before normal retirement age. More recently, the Incentivised Scheme of Early Retirement (ISER) has been available. The procedures and circumstances whereby these arrangements may be availed of are set out in...

National Asset Management Agency Bill 2009: Second Stage (Resumed). (6 Oct 2009)

Brian Lenihan Jnr: It is commercial property, rather than commercial paper.