Results 61-80 of 740 for land speaker:Paschal Donohoe

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Written Answers — Department of Finance: Tax Code (16 Jun 2022)

Paschal Donohoe: As the Deputy may be aware, agricultural relief allows the value of agricultural assets gifted or inherited (including farmland, buildings, stock) to be reduced by 90% of its value for the calculation of a Capital Acquisition Tax (CAT) liability. This is a valuable relief from CAT and a fundamental objective of this relief is that it is availed of by genuine, and active farmers, and that it...

Ceisteanna ar Pholasaí nó ar Reachtaíocht – Questions on Policy or Legislation (15 Jun 2022)

Paschal Donohoe: ...from the Brexit adjustment reserve fund could be used against airports like that, but I will keep in mind what he has said. I am aware of the end point that is coming up regarding the Heathrow landing slots. I was involved in negotiating the agreement many years ago. We will certainly make the case, and assist our airports in making the case, for the preservation of those slots in...

Ceisteanna ó Cheannairí - Leaders' Questions (15 Jun 2022)

Paschal Donohoe: The Deputy referred to talk, commitments and the time for speaking being over. The reality is 977 homes being built in Dundrum, 817 in Balbriggan, 345 in Skerries and 219 in Naas by the Land Development Agency.

Ceisteanna ó Cheannairí - Leaders' Questions (15 Jun 2022)

Paschal Donohoe: ...call home. We appreciate this and we are determined to make progress on it. However, this is the reason we have such investment by the Government going directly into building more homes on State land, by the State, through local authorities. It is the reason we have plans in place for this year that will deliver up to 9,000 social homes across the country. These social homes are now...

Ceisteanna ó Cheannairí - Leaders' Questions (15 Jun 2022)

Paschal Donohoe: ...there. It is the case that Deputy Doherty wants far more being built but he is against every measure that will deliver the homes for the communities he is making the case for. For example, the Land Development Agency, an agency the Deputy opposed in this House, is the same agency that has now submitted planning applications for 2,358 social and affordable homes in the city. I am...

Written Answers — Department of Finance: Tax Reliefs (14 Jun 2022)

Paschal Donohoe: I propose to take Questions Nos. 370 and 371 together. Rental income from the leasing of agricultural land is exempt from income tax under Section 664 of the Taxes Consolidation Act (1997). I am advised by Revenue that the total tax relief, the average tax relief, and the average overall tax liability of taxpayer units claiming this relief in the years 2017 to 2019 (the latest year for which...

Written Answers — Department of Finance: Tax Code (14 Jun 2022)

Paschal Donohoe: As the Deputy may be aware, agricultural relief allows the value of agricultural assets gifted or inherited (including farmland, buildings, stock) to be reduced by 90% of its value for the calculation of a Capital Acquisition Tax (CAT) liability. This is a valuable relief from CAT and a fundamental objective of this relief is that it is availed of by genuine, and active farmers, and that it...

Written Answers — Department of Finance: Tax Code (14 Jun 2022)

Paschal Donohoe: As the Deputy is aware, Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by owners of land that is zoned for residential or mixed-use purposes and that is serviced. The RZLT is an annual tax, calculated at a rate of 3% of the market value of the land. Each local authority...

Written Answers — Department of Finance: Tax Data (31 May 2022)

Paschal Donohoe: The residential zoned land tax (RZLT) is designed to prompt residential development by owners of land that is zoned for residential or mixed use purposes and that is serviced, and the primary objective of a RZLT is to increase the supply of housing rather than to raise revenue. The rate of residential zoned land tax is set at three percent on its commencement in...

Written Answers — Department of Finance: Tax Reliefs (31 May 2022)

Paschal Donohoe: ...CGT. Section 604 of the Taxes Consolidation Act, 1997 provides relief from CGT on the disposal of one’s principal private residence, being a dwelling house (including an apartment) together with land occupied as its gardens or grounds up to an area (exclusive of the site of the residence) of one acre. If a property was occupied by an individual as his or her principal private...

Written Answers — Department of Finance: Tax Code (25 May 2022)

Paschal Donohoe: ..., stamp duty is chargeable at 1% on the first €1 million and 2% on the balance. Stamp duty is payable by the purchaser. However, a higher stamp duty rate of 7.5% applies to the sale of non-residential land, which includes land purchased by a person for the purpose of building a single residential property on it. I assume this is the concern the Deputy is referring to. ...

Seanad: Finance (Covid-19 and Miscellaneous Provisions) Bill 2022: Second Stage (10 May 2022)

Paschal Donohoe: ...and the normal stamp duty rate, which in most instances will be 1%. The beneficiaries of this amendment will be those involved in the delivery of cost-rental homes at scale, including approved housing bodies such as the Land Development Agency and local authorities. The fishing fleet decommissioning scheme is dealt with in section 15. Section 16 makes provision for the funding of the...

Written Answers — Department of Finance: Tax Code (28 Apr 2022)

Paschal Donohoe: ...Government’s plan to increase availability and affordability of housing, and to create a sustainable housing system into the future. This year, €4 billion of Exchequer funding, supplemented by Land Development Agency funding and Housing Finance Agency lending, will be made available to deliver 9,000 new-build social homes and make 4,130 homes available for affordable purchase...

Written Answers — Department of Finance: Tax Code (7 Apr 2022)

Paschal Donohoe: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by owners of land that is zoned for residential or mixed-use purposes and that is serviced. The RZLT is an annual tax, calculated at a rate of 3% of the market value of the land. It applies to land that is both zoned as...

Written Answers — Department of Finance: Tax Reliefs (6 Apr 2022)

Paschal Donohoe: ...year are exempt from CGT. Section 604 of the Taxes Consolidation Act, 1997 provides relief from CGT on the disposal of an individual’s principal private residence, being a dwelling house together with land occupied as its gardens or grounds up to an area (exclusive of the site of the residence) of one acre. If a property was occupied by an individual as his or her principal private...

Written Answers — Department of Finance: Tax Data (5 Apr 2022)

Paschal Donohoe: ..., so if the property is held for 9 years, 7/9 of the gain will be relieved. This relief was amended in Finance Act 2017 for disposals made on or after 1 January 2018, to provide that gains on land and buildings acquired between 7 December 2011 and 31 December 2014 are not chargeable gains where the land or buildings are held for at least 4 years and up to 7 years from the date they...

Written Answers — Department of Finance: Real Estate Investment Trusts (5 Apr 2022)

Paschal Donohoe: ...is to acquire IREF assets or to carry on an IREF business. ‘IREF assets’ are defined in section 739K Taxes Consolidation Act 1997 as including one or more of the following: (a) relevant assets such as land (including buildings) in the State; (b) shares in a Real Estate Investment Trust; (c) shares that derive their value or the greater part of their value from relevant...

Written Answers — Department of Finance: Tax Exemptions (29 Mar 2022)

Paschal Donohoe: I am advised by Revenue as follows: Section 664 of the Taxes Consolidation Act 1997 sets out the criteria which must be met for relief for certain income from the leasing of farmland to be allowed. Farmland must be let by a qualifying lessor under a qualifying lease to a qualifying lessee. The amount of the relief is subject to certain limitations. A qualifying lessee may be an...

Written Answers — Department of Finance: Banking Sector (22 Mar 2022)

Paschal Donohoe: The Affordable Housing Act 2021 laid the foundation for two new affordable purchase schemes: the first to be delivered via Local Authorities and the Land Development Agency, and the second a national 'First Home' shared equity scheme supporting purchases in the private market. On the basis that the purchaser of a home will generally require a mortgage to secure a home, I can confirm that...

Written Answers — Department of Finance: Tax Code (22 Mar 2022)

Paschal Donohoe: ...like to note that, for property owners selling their own home there is an exemption from Capital Gains Tax (CGT) for the transfer or sale of an individual’s principal private residence (PPR), including land of up to one acre around the residence.  More information is available at www.revenue.ie/en/gains-gifts-and-inheritance/cgt-re liefs/index.aspx.  Taxes on...