Results 861-880 of 9,563 for speaker:Jack Chambers

Written Answers — Department of Finance: Tax Reliefs (7 Nov 2024)

Jack Chambers: The Help to Buy (HTB) incentive, is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. It also has as a key aim the encouragement of additional supply of new houses by supporting demand. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland over the previous four years, subject to limits...

Written Answers — Department of Finance: Departmental Schemes (7 Nov 2024)

Jack Chambers: The Deputy should note that my Department and I share concerns that the Disabled Drivers and Disabled Passengers Scheme or DDS is no longer fit-for-purpose and believe it should be replaced with a needs-based, grant-led approach for necessary vehicle adaptations that could serve to improve the functional mobility of the individual. However, this is very much a matter for Government as...

Seanad: Finance Bill 2024: Second Stage (6 Nov 2024)

Jack Chambers: I thank the Cathaoirleach and appreciate the opportunity to present the Finance Bill to the Seanad. I am pleased to be here today to discuss the Bill. I understand that Senators have been sent a summary of the Bill which addresses each individual section. I will use the time available to highlight some of the key measures. As we know, the Finance Bill gives legislative effect to the...

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I thank Senator Gavan for raising this matter. As Senators will be aware, the credit was first introduced in the Finance Act 2022 at a value of €500 for single people and €1,000 for jointly assessed married couples. It has played a valuable role in providing financial support to renters right across the country. The credit was subsequently increased in 2023 by €250 to...

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I thank Senator Gavan for submitting these recommendations and I will respond to them. Recommendation No. 6 relates to the changes to PRSAs introduced in section 12. The section amends the Taxes Consolidation Act 1997 to introduce limits on the tax relief available for employer contributions to personal retirement savings accounts and pan-European pension products. Prior to 31 December...

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I thank Senator Higgins for her contribution. I also welcome all the students who are here from Cork. I am familiar with their school. I played sport against their school some years ago. I think we won down in Cork, they will be glad to know. They are very welcome. Senator Higgins referred to the cost of the changes and the SFT in the context of the decision points we have taken. We...

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I will send further information to the Senator. The Department is still working through the specific detail on how equality budgeting will operate. I will, though, reflect what the Senator said and further information will be published in that regard.

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I am happy to provide it.

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: Up Mayo.

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: I thank the Senator. The Senator has tabled a recommendation seeking a report to be published which I understand would outline the comparative State supports received by workers in the auto-enrolment retirement savings scheme compared with individuals making contributions to an occupational pension scheme. Is this what she was referring to?

Seanad: Finance Bill 2024: Committee and Remaining Stages (6 Nov 2024)

Jack Chambers: On the design and operation of auto-enrolment more generally, this was discussed at length by the Minister, Deputy Humphreys, when she was bringing this legislation through the Houses. In this Bill, we are simply putting in place the taxation provisions relating to the auto-enrolment system in line with the design set out by the Minister, Deputy Humphreys, and introduced in the legislation....

Written Answers — Department of Finance: Tax Code (6 Nov 2024)

Jack Chambers: Taxing fuel usage is a policy that is employed across most transport modes to reduce emissions. However, this is not a policy approach that is common for the aviation sector. Ireland’s tax policy in this area has been formulated within the parameters of international agreements and EU law, along with national cross-cutting policy considerations. Article 24 of the 1944 Chicago...

Written Answers — Department of Finance: Tax Data (6 Nov 2024)

Jack Chambers: I assume that the Deputy is referring to the remittance basis of assessment that applies to individuals who are resident or ordinarily resident, but not domiciled in the State. Under the remittance basis, non-domiciled individuals pay tax on: (1) Income and gains arising in Ireland, (2) Foreign income which they “remit” or bring into the State, and (3) Foreign gains...

Written Answers — Department of Finance: Fiscal Data (6 Nov 2024)

Jack Chambers: In Budget 2025, I indicated that an income volatility measure to support the farming sector would require detailed consideration of complex issues of policy around how this would operate in the context of financial regulation, governance and legal structures. Therefore, the parameters of any such scheme are yet to be fully considered. Accordingly, there is not a basis upon which to estimate a...

Written Answers — Department of Finance: Capital Expenditure Programme (6 Nov 2024)

Jack Chambers: I wish to inform the Deputy that the Department of Finance has made no capital investment in East Meath since 2020. The Department of Finance is a policy oriented Department and while it contributes to Government plans it is unlikely to be involved in the delivery of capital investments in specific constituencies.

Written Answers — Department of Finance: Tax Credits (6 Nov 2024)

Jack Chambers: The Rent Tax Credit, as provided for in section 473B of the Taxes Consolidation Act 1997 (TCA 1997), was introduced by the Finance Act 2022 and may be claimed in respect of qualifying rent paid in 2022 and subsequent years to end-2025. In relation to the question of parents paying for their children who are studying abroad and in a tenancy outside the State, the purpose behind the Rent...

Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)

Jack Chambers: Sorry?

Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)

Jack Chambers: We have set out the-----

Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)

Jack Chambers: There has been no legal or administrative change. They are working together to try to deliver an operating model that allows them to continue that important work.

Finance Bill 2024: Committee and Remaining Stages (5 Nov 2024)

Jack Chambers: I acknowledge everyone who has spoken. There was a wide array of topics referred to and I will try to respond on some of them. On amendments numbers 2, 3 and 4, on the universal social charge, the Rural Independent Group has requested a report on the abolition of the charge for those earning less than €70,000 per annum and a report on abolishing the charge for all employees in the...