Results 7,801-7,820 of 27,945 for speaker:Michael McGrath
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: It is tangential but-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: What about flat rate expenses?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: Is it still the intention that any change would take effect in January?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: That is what is stated on their website.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: I move amendment No. 17: In page 20, between lines 24 and 25, to insert the following: "Amendment of section 97 of Principal Act 17. Section 97 of the Principal Act is amended by the insertion of the following after subsection (2K): "(2L) (a) In this subsection - 'annual service charges' means the expenditure described in section 18 of the Multi-Unit Developments Act 2011;...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: I thank the Minister. If the note could be shared with the committee, it would be very helpful. The Minister detailed in the reference to section 97(2I) of the Taxes Consolidation Act the connection between allowing the deductability of certain payments arising from purchase or repair of a property and it being contingent on a box being ticked on the form to confirm that a tenancy has...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: The Minister suggested that to claim tax deduction for interest payments the landlord has to confirm that the property is registered with the RTB. That is accepted, but that is not the question I am raising under the amendment. The question being raised under the amendment relates to tax deduction for the payment of management fees to the management company by the landlord. The Minister...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: The reason for raising the matter is that many of these management companies are a mess.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: The Minister has many multi-unit developments in his constituency so he knows all about it.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: This is an effort to ensure that landlords pay the management charge to the management company. If there was a way of requiring landlords to have the tenancy registered with the RTB, it would help towards that goal. That is the purpose of the amendment.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: I will withdraw the amendment. Will the Minister share the speaking note that he read out initially with us?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: I move amendment No. 20: In page 20, between lines 24 and 25, to insert the following: “Report on restriction on tax relief for physiotherapy sessions 17.The Minister shall, within 3 months of the passing of this Act, prepare and lay before the Oireachtas a report on the feasibility of removing the restriction in which tax relief is only available for physiotherapy sessions on the...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: I thank the Minister for his response. The issue really is that people have to incur extra expense to get a referral. It involves going to the GP to get a referral to see a physiotherapist. Only then will any expenditure the person makes on physiotherapy qualify for tax relief. I understand the budgetary constraints. What the Minister is saying is that there could potentially be...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: It will still cost a patient 80%.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: Does the Minister wish to respond?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: I have some questions on this section. The Minister signalled on budget day that from January 2021 he would seek to bring in a modified dividend withholding tax regime, using real time data collected by Revenue under the new PAYE modernisation programme. It was signalled that could involve a personalised rate of dividend withholding tax for each individual taxpayer. Can the Minister...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: I welcome the proposed changes and the section as the Minister intends to amend it. With regard to state aid approval, is the timeline similar? These provisions will be the subject of a commencement order. Is the Minister looking at making the submission to the European Commission once the process is complete? Are we looking at four months into the year before this will be enacted?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: Are there state aid issues with the EII measures? Some kicked in on budget night and others will kick in on 1 January.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: Does the Minister have an estimate of the tax forgone to date as a result of aggressive tax planning which is now being closed down through the amendments?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2019: Committee Stage (5 Nov 2019)
Michael McGrath: The Revenue has on the Statute Book very extensive general anti-avoidance provisions whereby it can cut to the substance of a transaction and if a transaction is designed to avoid tax, the Revenue can essentially set it aside. Is it the case that until now Revenue powers were insufficient to deal with excessive interest, for example, which was reducing profits within vehicles? Did the...