Results 6,941-6,960 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (22 Apr 2009)

Brian Lenihan Jnr: Section 15 Finance (No. 2) Act 2008 amended section 819 of the Taxes Consolidation Act 1997 to provide that, for 2009 and subsequent years, an individual is regarded as present in the State for a day if he or she is present in the State at any time during that day. This provision amended the previous tax residence rule, denoted as the "Cinderella rule", under which individuals could be in the...

Written Answers — Tax Code: Tax Code (22 Apr 2009)

Brian Lenihan Jnr: I presume that the Deputy is referring to the 60% statutory redundancy rebates that the Department of Enterprise, Trade and Employment administer. Taxes paid by employers include tax levied directly on the employer such as Income Tax or Corporation Tax but also fiduciary taxes such as PAYE Income Tax, Income Levy or VAT levied on...

Written Answers — Tax Collection: Tax Collection (22 Apr 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the taxpayer in question contacted his local tax district in March 2009 to inform them that he had received payment of a pension from the Department of Agriculture, Fisheries and Food. The pension covered the period from July 2008 to March 2009 and was subjected to the PAYE emergency tax procedures, as the taxpayer had not applied for a PAYE Tax...

Written Answers — Pension Provisions: Pension Provisions (22 Apr 2009)

Brian Lenihan Jnr: Where persons who have applied for early retirement due to ill-health have not had their applications approved by 1 May 2009, the terms of the benefits of ill- health retirements will not be affected by the proposed Incentivised Scheme of Early Retirement.

Written Answers — Pension Provisions: Pension Provisions (22 Apr 2009)

Brian Lenihan Jnr: I have no proposals to exempt members of the Association referred to by the Deputy from the pension-related deduction. However, in the recent Supplementary Budget, I announced a change to the structure of the deduction which will exempt the first 15,000 euro of earnings. This should benefit the group of public servants in question, especially those with no other public service employment. I...

Written Answers — Financial Services Regulation: Financial Services Regulation (22 Apr 2009)

Brian Lenihan Jnr: The Deputy's question refers to the redemption fee applied by mortgage providers in circumstances that a customer seeks to break a fixed rate mortgage. Mortgage lenders in Ireland generally seek to recover costs of funds when a borrower with a fixed rate mortgage agreement seeks to terminate the agreement some time before the term agreed. Traditionally redemption fees were articulated with...

Written Answers — Tax Collection: Tax Collection (22 Apr 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that they are not aware of increasing annoyance and frustration on the part of accountants. Revenue operates a network of formal contacts with tax practitioners ranging from the Taxes Administration Liaison Committee (TALC) to local Revenue and Practitioner forums. TALC was established in 1989 and is a liaison committee between Revenue, the Irish...

Written Answers — Pension Provisions: Pension Provisions (22 Apr 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 185 and 206 together. Under statutory pension schemes and pension schemes approved by the Revenue Commissioners there is no liability to income tax in respect of retirement gratuities or lump sums paid to members of such schemes on retirement. Provided the individual referred to in the question is a member of such a scheme and the lump sum payment complies...

Written Answers — Tax Code: Tax Code (22 Apr 2009)

Brian Lenihan Jnr: I am conscious of the difficulties being encountered in the farm machinery business in conjunction with other businesses, however, given the current Exchequer deficit position, the Budget 2009 policy decision of increasing the standard VAT rate continues to be necessary in order to support the public finances. We are borrowing to fund day to day public services which is unsustainable as...

Written Answers — Departmental Expenditure: Departmental Expenditure (22 Apr 2009)

Brian Lenihan Jnr: The detailed 2009 expenditure allocations will be published in the Revised Estimates of Public Services 2009 tomorrow, Thursday 23 April. These allocations reflect all changes which impact on Departmental expenditure in 2009.

Written Answers — Tax Code: Tax Code (22 Apr 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 188, 209 and 210 together. The position is that statutory redundancy payments are exempt from both income tax and income levy. In addition, ex-gratia redundancy payments in excess of the statutory redundancy amount are exempt from income tax and the income levy, subject to certain limits, namely - · a basic exemption of €10,160 plus €765 per complete year...

Written Answers — Pension Provisions: Pension Provisions (22 Apr 2009)

Brian Lenihan Jnr: In my reply to the previous question raised by the Deputy on this issue, I indicated that my Department was examining the matters raised in the CIROC report. Following that consideration, and in light of discussions between my Department and the Revenue Commissioners, the matters raised in the report are to be taken up by the Commissioners with the institutions involved, with a view to...

Written Answers — Tax Collection: Tax Collection (22 Apr 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 190 and 191 together. Section 34 of the Finance Act 2007 introduced a new scheme to allow the operation of Deposit Interest Retention Tax (DIRT) exempt savings accounts subject to two conditions: (a) the account holder must be aged 65 years of age or over or be permanently incapacitated; and (b) their total income must not exceed the relevant exemption...

Written Answers — Tax Yield: Tax Yield (22 Apr 2009)

Brian Lenihan Jnr: The following table sets out the net yield from Deposit Interest Retention Tax (DIRT) collected from 2002 to 2008: Year â'¬m 2002 206.5 2003 153.3 2004 143.6 2005 167.1 2006 254.4 2007 471.8 2008 653.8

Written Answers — Tax Collection: Tax Collection (22 Apr 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that when DIRT exempt accounts were introduced in April 2007, the initiative was widely publicised. Publicity measures included the production and dissemination of two information leaflets; the first DE1 was for account holders who qualified on the basis of being aged 65 years, while the second DE2 was for those who qualified on the basis of...

Written Answers — Tax Collection: Tax Collection (22 Apr 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the number of people who made a claim for a tax refund on becoming unemployed in the years in question are as follows: 2007 --- 27,652 2008 --- 44,987 2009 (to 17 April) --- 6,018

Written Answers — Tax Collection: Tax Collection (22 Apr 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that they have a range of information available to taxpayers in relation to their entitlements to claim tax refunds if they are unemployed. The Revenue website, www.revenue.ie contains a wide range of information in relation to how claims can be made and what information customers need in order to make a claim. At the start of each tax year, the...

Written Answers — Tax Yield: Tax Yield (22 Apr 2009)

Brian Lenihan Jnr: A 2% stamp duty, which was introduced in 1982, is charged on most non-life insurance premiums and is part of the normal stamp duty system. The exceptions are re-insurance, voluntary health insurance, marine, aviation and transit insurance and export credit insurance. The yield to the Exchequer from 2004 to 2008 was as follows: Year Yield (€m) 2004 97.7 2005 90.8 2006 88.3 2007 85.4...

Written Answers — Departmental Expenditure: Departmental Expenditure (22 Apr 2009)

Brian Lenihan Jnr: Budgetary projections for 2009, 2010 and 2011 are broken down in the table below and are consistent with the figures published in Supplementary Budget 2009, published on 7 April. The corresponding figures for 2007 and 2008 are also included in the table. The figures from 2007 are taken from the Appropriation Account 2007 and the Finance Account 2007, while the 2008 figures are Department of...

Written Answers — Tax Code: Tax Code (22 Apr 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 198 and 199 together. The position is that Mortgage Interest Relief for principal private residencies will cease for all mortgages from the 1st May, where the mortgage holder has been in receipt of mortgage interest tax relief for more than seven years. The exception to this rule is where a new loan has been taken out in the last seven years for the purpose of...