Results 8,561-8,580 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (16 Dec 2008)

Brian Lenihan Jnr: In an economy the size of Ireland's it is not unusual that one of the larger financial or legal advisers has to deal with potential conflicts of interest arising from their representation of more than one client in the same sector. I have been assured by my external advisors on the banks guarantee scheme, that where potential conflicts arise they are dealt with through the application of well...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (16 Dec 2008)

Brian Lenihan Jnr: I am fully satisfied that the appointment of advisors to advise me on the bank guarantee scheme was in accordance with public procurement procedures. Those procedures provide for negotiation with a single contractor without a competitive process where the timeframe for a competitive process cannot be met due to the extreme urgency of the circumstances. The Deputy will recall that speed of...

Written Answers — Regulatory Impact Analyses: Regulatory Impact Analyses (16 Dec 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 175 and 176 together. As a result of a Government decision on 21 June 2005, Regulatory Impact Analysis must be conducted on all proposals for primary legislation involving changes to the regulatory framework (subject to some exceptions), significant Statutory Instruments and proposals for EU Directives and significant EU Regulations when they are published by...

Written Answers — Tax Code: Tax Code (16 Dec 2008)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that no report has been carried out on the compliance cost of the C2 certification system. Prior to the introduction of Relevant Contracts Tax (RCT), there were significant difficulties with tax compliance in the construction sector. RCT was introduced in 1970 as a measure to tackle that non-compliance problem, and has been significantly...

Written Answers — Fiscal Policy: Fiscal Policy (16 Dec 2008)

Brian Lenihan Jnr: It is generally recognised that there is an unusual number of unsold houses on the market at present. Developers and others are naturally anxious to sell and in many cases have reduced prices, but this is a business decision for them. There is no indication at this stage that banks have taken possession of an unusual amount of property.

Written Answers — Tax Code: Tax Code (16 Dec 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 179 to 181, inclusive, together. I have been informed by the Revenue Commissioners that an individual may claim a repayment of DIRT where the individual is not liable to pay income tax by reason of the level of his or her income; and either: (a) he or she is over 65; or (b) if under 65, is permanently incapacitated by reason of physical or mental infirmity...

Written Answers — Tax Code: Tax Code (16 Dec 2008)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that a Form 12 was received from the taxpayer on 11 December 2008. This return will be processed within the next few days and a P21 should issue in the first week of January 2009.

Written Answers — Tax Code: Tax Code (16 Dec 2008)

Brian Lenihan Jnr: Section 848A of the Taxes Consolidation Act 1997 governs the scheme for tax relief on donations to eligible charities and other approved bodies. The administration of this scheme is the responsibility of the Revenue Commissioners. All primary and post primary schools providing education based on a programme prescribed or approved by the Minister for Education and Science automatically...

Written Answers — Court Actions: Court Actions (16 Dec 2008)

Brian Lenihan Jnr: The Courts Service provides my Department with a quarterly report on the number of Court actions and orders relating to possession of certain real property i.e. buildings and land. The statistics include the number of new cases initiated in each quarter for possession of such property and on the number of court orders made for possession of real property. Circuit Court statistical reports...

Written Answers — Tax Code: Tax Code (16 Dec 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 187 and 188 together. I am informed by the Revenue Commissioners that the precise information in relation to the number of fathers of children born to unmarried parents who claimed the single parent tax credit is not available in the format requested. However, information available relating to the number of single males claiming the single parent tax credit...

Written Answers — Tax Code: Tax Code (16 Dec 2008)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that P21s for 2004 to 2007 have been issued to the person concerned. Home carers tax credit has been granted for 2004. For the years 2005, 2006 and 2007, instead of home carers tax credit, the individuals concerned were treated as a married two-earner couple and given the appropriate standard rate band. This tax treatment was more beneficial...

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: I assume what Deputy Burton has in mind is an allowance of €18,304 for individuals with income up to €25,000 or some similar mechanism. This would have the effect of reducing the income levy payable by such individuals by €183 per annum. This would cost the Exchequer approximately €60 million in the full year and would add a considerable level of complexity to the system. If the...

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: I am not persuaded by the arguments or I would accept the amendments. The bottom line here is that €60 million is involved. Deputy Burton referred to the need for a stimulus package. The capital programme in the budget is a substantial stimulus package. It involves in excess of €8 billion of borrowing that has been applied for investment purposes. That is a very substantial stimulus...

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: With regard to the question of the Commission on Taxation, I await its proposals on the reform of the complexity of our income tax system. However, in respect of the levy, I do not believe the amounts involved are such as to impose substantial, or any, hardship on individuals. I am amazed at the position taken by socialists in Ireland, such as Deputy Burton. They do not study the practice...

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: With regard to the scheme outlined by Deputy Burton, the person must earn the relevant sum in the income split. If, for example, the business is a family farm, the person must do the equivalent amount of work to split the income. One cannot notionally assign income to two or three different persons in a particular family. In the treatment of the accounts submitted, there must be a real...

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: Of course. I became waylaid, for which I apologise. The Deputy's amendment proposes to insert a section in the Finance Bill which states that section 13 of this Bill, in providing for a repayment of tax where income is not remitted in particular circumstances, will not provide a relief from the income levy. Section 13 provides for a relief by way of repayment where income is not remitted...

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: Although they have attempted to do so, my officials find it difficult to put an exact figure on the amount that would be lost to the levy were capital allowances permitted. As Deputy Bruton is aware, the income levy has been introduced as a measure to re-establish tax revenues. It applies across all income streams and it is determined on an individual basis at progressive rates, depending...

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: I will try to deal with the points raised. Deputy Bruton raised the issue of income earners aged 70 and more who did not qualify for the medical card and has suggested both here and on Committee Stage that they would be obliged to pay the health levy. This is not the case. The Health Act 2008 provides that all persons aged 70 and over will be exempt from the health levy, no matter what is...

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: It is not a U-turn.

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: As for Deputy Bruton's amendment, I understand he envisages that higher rate taxpayers, who are 70 years old or more, should be allowed to deduct health expenses at their marginal rate. The biggest health expense that an elderly person may face is nursing home fees and I have introduced an amendment to ensure that such fees will continue to be deductible at the taxpayer's marginal rate.