Results 101-120 of 403 for land speaker:Michael McGrath

Did you mean: and speaker:186?

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: A key objective of the Government’s Housing for All plan is a pathway to increase housing supply, including a focus on providing an adequate supply of available serviced zoned land for the development of housing. In this regard, provision was made for a new tax on land zoned for residential development, which also has the necessary services in place. The purpose of this Residential...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 208 and 209 together. The Residential Zoned Land Tax (RZLT) is a new tax introduced in Finance Act 2021 which seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: The residential zoned land tax (RZLT) is a new tax introduced in Finance Act 2021 which seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for housing. The tax is an action contained...

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: The Residential Zoned Land Tax (RZLT) is a new tax introduced in Finance Act 2021 which seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for housing. The tax is an action contained...

Written Answers — Department of Finance: Tax Code (27 Jun 2023)

Michael McGrath: I propose to take Questions Nos. 190 to 192, inclusive, together. The 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 landowners of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax,...

Written Answers — Department of Finance: Tax Code (27 Jun 2023)

Michael McGrath: 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 landowners of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land within its scope. The...

Written Answers — Department of Finance: Tax Yield (27 Jun 2023)

Michael McGrath: RZLT is an annual tax, calculated at a rate of 3% of the market value of the land within its scope. The tax will be due and payable from 2024 onwards in respect of land which fell within the scope of the tax on or before 1 January 2022. Where land is zoned or serviced after 1 January 2022, the tax will be first due in the third year after the year in which it comes within scope. The aim...

Ceisteanna ó Cheannairí - Leaders' Questions (22 Jun 2023)

Michael McGrath: I thank Deputy Healy-Rae. I want to underline the Government's support for the family farm and the principle of that all over Ireland. I negotiated with the Minister, Deputy McConalogue, over the last number of budgets, significant increases in the funding for his Department. He successfully negotiated a new strategic Common Agricultural Policy, CAP, plan worth almost €10 billion...

Written Answers — Department of Finance: Tax Credits (22 Jun 2023)

Michael McGrath: ...that apply are set out in the relevant Tax and Duty Manual (Part 15-01-11A) available on the Revenue website at the following link: www.revenue.ie/en/personal-tax-credits-reliefs-and-exemption s/land-and-property/rent-credit/index.aspx.

Written Answers — Department of Finance: Tax Code (20 Jun 2023)

Michael McGrath: The Residential Zoned Land Tax (RZLT) was introduced in Finance Act 2021. RZLT represents the output from Action 15.2 of the Housing for All Strategy published by the Department of Housing, Local Government and Heritage (D/HLGH) in September 2021 which announced the introduction of “a new tax to activate vacant land for residential purposes (to replace the current Vacant Site...

Written Answers — Department of Finance: Tax Code (20 Jun 2023)

Michael McGrath: The rate of stamp duty that applies to the acquisition of non-residential property, a category that includes farmland, has, since 9 October 2019, been set at 7.5%. All land (as opposed to buildings and their sites/curtilages), including agricultural land, is classified as non-residential property for stamp duty purposes. Any re-categorisation of agricultural land as residential...

Written Answers — Department of Finance: Tax Reliefs (13 Jun 2023)

Michael McGrath: Consanguinity relief is a long-standing stamp duty relief which is available only in respect of farmland. It serves to reduce the stamp duty rate applicable to the acquisition of farmland by qualifying individuals from the current standard rate on non-residential property of 7.5 per cent to 1 per cent. It was last extended (by three years) in Finance Act 2020, so is currently due to expire at...

Written Answers — Department of Finance: Tax Code (13 Jun 2023)

Michael McGrath: I propose to take Questions Nos. 379 and 385 together. 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 landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax,...

Written Answers — Department of Finance: Tax Code (13 Jun 2023)

Michael McGrath: Stamp duty is a tax on certain instruments (written documents), and it is chargeable on instruments that transfer land and buildings situated in Ireland. Such instruments are usually called ‘Deeds of Transfer’ or ‘Deeds of Conveyance’. Stamp duty is also chargeable on the following instruments:written leases of land and buildings situated in Ireland/instruments...

Written Answers — Department of Finance: Tax Code (13 Jun 2023)

Michael McGrath: 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 landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land...

Written Answers — Department of Finance: Tax Exemptions (1 Jun 2023)

Michael McGrath: 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 landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land...

Written Answers — Department of Finance: Tax Code (25 May 2023)

Michael McGrath: ...is referring to a recent Tax Appeals Commission decision, whereby it was determined that the disposal of a portfolio of loans by a non-resident bank constituted the disposal of “an interest in land” which is within the charge to Irish capital gains tax (CGT) imposed on non-residents as provided for in section 29(3) of the Taxes Consolidation Act (TCA) 1997. In relation to the...

Written Answers — Department of Finance: Tax Code (23 May 2023)

Michael McGrath: 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 landowners of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3 of the market value of the land within its scope. The tax...

Written Answers — Department of Finance: Tax Code (9 May 2023)

Michael McGrath: As set out in Housing Policy Objective 15.2 of Housing for All, a new residential zoned land tax to activate vacant land for residential purposes, and to replace the Vacant Site Levy, was enacted in Finance Act 2021. The tax measure will be levied at 3% of the land's market value, as indicated on maps to be prepared and published by local authorities. Certain exclusions apply. Local...

Written Answers — Department of Finance: Tax Reliefs (9 May 2023)

Michael McGrath: ...allowances for farm safety equipment, various stock reliefs, carbon tax relief on farm diesel, succession farm partnerships relief, VAT rebates on farm buildings. In respect of the leasing of land for farming purposes (including tillage and horticulture), section 664 of the Taxes Consolidation Act 1997 provides for the exemption from tax of certain income earned from the long-term leasing...