Results 9,501-9,520 of 12,596 for speaker:Willie O'Dea

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage (Resumed) and Remaining Stages (13 Mar 2008)

Willie O'Dea: This recommendation has been proposed on many occasions over the past number of years. There are a number of reasons why the proposal could not be resolved through the Finance Bill process, the primary one being that such VAT refund schemes are no longer possible under EU VAT law. Further to this, the real question is whether VAT refunds are the most appropriate intervention in the first...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage (Resumed) and Remaining Stages (13 Mar 2008)

Willie O'Dea: Yes. As I indicated yesterday, I will obtain the details for the Senator.

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage (Resumed) and Remaining Stages (13 Mar 2008)

Willie O'Dea: I thank Senators on both sides of the House for their very thoughtful and thought-provoking contributions, both today and yesterday. I will convey the arguments, some of which were very well made, to my colleague the Minister for Finance.

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: The Senator's recommendation is one which was debated at some length in the other House. The Tánaiste and Minister for Finance is not convinced still of the merits of the case. The statutory remit of the Ombudsman already incorporates both of the roles proposed for a taxpayers' advocate, namely, acting for taxpayers and investigating actions which are contrary to fair or sound...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I understand where the Senator is coming from and I am aware of that apparent anomaly. It is a matter for the Revenue Commissioners to determine whether a body or organisation has been established for charitable purposes. I have been advised that the activities of Tidy Towns organisations, generally speaking, would be regarded as satisfying one of the categories of charitable purpose, which...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: As the Senators will be aware the Tánaiste and Minister for Finance announced the establishment of the Commission on Taxation on 14 February. The work of the commission will help establish the framework within which tax policy will be set for the next decade at least. It is important for the commission to take a strategic, considered and balanced perspective that recognises the evolving...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: The recommendation relates solely to tax relief for service charges. I understand what the Senators have said and their arguments for and against. I will communicate their comments to the Tánaiste. Relief for service charges is currently available in respect of charges paid by a householder in the previous year subject to a maximum claim of €400 per annum. Where an individual makes a...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: This matter was debated at some length on Committee and Report Stages in the Dáil. As the Tánaiste and Minister for Finance indicated in those debates, the position is that existing law already provides an exemption for an employee benefit-in-kind charge where employers provide free or subsidised child care to their employees. However, the exemption applies only on certain conditions. I...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: The proposed recommendation seeks to ensure training costs paid by an employer will not result in a benefit-in-kind charge applying to the employee. I am informed by the Revenue Commissioners that in circumstances where an employer either refunds course or examination fees on behalf of an employee or pays them directly on behalf of the employee, and the course undertaken is relevant to the...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: This issue has been around for some time. When studying at the Institute of Chartered Public Accountants in UCD I was taught that self-employed people may claim travel expenses incurred for the purposes of their businesses whereas employees may claim only for travel undertaken in the performance of their duties, a somewhat narrower hoop to get through. The difficulty that arises in this...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: The effect of the recommendation would be to double the value of the 2007 home carer tax credit of €770. The cost of the measure, if implemented, would be approximately €54 million in a full year and €37 million in 2008. The financial resources available to the Tánaiste for the budget 2008 personal tax package including, PRSI and health levy changes, amounted to €582 million, not...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: Most of the recommendations and amendments put forward today and in the other House are, on the surface, quite acceptable. Were I on the other side of the House I, too, could make as good a case in respect of some of them. However, the Minister must strike a balance. Resources are not limitless. Section 6 of the Finance Bill implements the budget announcements to improve the level of rent...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: In principle, there is much merit in the Senator's amendment. Many annuities have fallen in value or are not as valuable when they come to be paid as was originally anticipated. This is because the yield from Government bonds has dropped considerably and there has also been considerable turmoil in the international equity markets. The other difficulty with annuities is that, generally...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I will convey the Senator's view to the Tánaiste. People in the public sector, including ourselves, are fortunate in that we have a defined contribution scheme. The existing position covering many smaller contributors in the PAYE system, whom I suspect the Senator has in mind, could be described as paternalistic. The Government is of the view that if some employees are given the option of...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I did not receive the specific letter to which Senator Twomey referred but I am aware of what is being said and who is saying it. I disagree with the Senator's argument. The current position is that where an employer gives an employee shares in the company, those shares are taxable at their current market value. What is happening in many cases is that companies are giving shares,...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I will.

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: Getting the Revenue Commissioners involved in the area of health and safety is a step too far. There is a bewildering array of health and safety regulations and the Revenue has plenty to do. Moreover, it is not qualified to assess such issues because its expertise lies elsewhere.

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I appreciate that point but there are requirements in place regarding the fulfilment of health and safety regulations. In most cases to which this amendment would be applicable, there is already a requirement for a health and safety certificate. In addition, many claimants for tax relief will have purchased the property involved from the developer and will have no responsibility or control...

Seanad: Finance Bill 2008 (Certified Money Bill): Committee Stage. (13 Mar 2008)

Willie O'Dea: I understand the thinking behind Senator Kelly's amendment. Where a tenant is paying rent to a foreign landlord, even if he or she is in receipt of rental allowance from the HSE, the law requires that the tenant must deduct tax at the standard rate from the rent paid against the liability the foreign landlord will ultimately have for tax. This imposes an onerous burden on tenants. I am not...

Order of Business (13 Mar 2008)

Willie O'Dea: We have had more of a chance than the Deputy.