Results 12,261-12,280 of 27,945 for speaker:Michael McGrath

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Michael McGrath: It is true to say that it is a slightly preferential system for those aged 65 and over but the extent of the preferential treatment is declining over time because the thresholds have not been increased. That is an important point to put on the record. Pensioners do pay tax. They pay the universal social charge and will have benefitted from the reduction in it. Others who would pay income...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Michael McGrath: I thank the Minister for his response. I welcome that he plans to set up a working group to examine this and related issues. I recognise the budgetary reality but it is particularly important in the context of the very low returns available in the present environment. The reality is that people earn little or nothing on their savings. The effect of having this differential between the...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Michael McGrath: I move amendment No. 8:In page 13, between lines 28 and 29, to insert the following: “The linking of DIRT rate and Exit Tax rate on Life Assurance policies 10. The Minister shall, within three months of the passing of this Act, prepare and lay before the Oireachtas a report on the breaking of the link between the rate of DIRT and the rate of exit tax from Life Assurance policies,...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Michael McGrath: For the record, I did not even mention my wife. I mentioned confidence and supply.

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Michael McGrath: We discussed this to some extent on Committee Stage. My view is that we should give a longer-term commitment. One year is too short from the point of view of a company or employer investing in vehicles. They need more certainty. The Minister indicated on Committee Stage that the intention was to keep it for a longer period of time. He should formalise that in the Bill. Yesterday, the...

Finance Bill 2017: Report Stage (Resumed) (22 Nov 2017)

Michael McGrath: The only point I add is that when a company looks up the policy on this benefit-in-kind treatment, it will not read committee or Dáil transcripts. Rather, it will look at the Revenue website which sets out the legal position, which is that the exemption is for a one year period. We have a political commitment that it will be there for at least three years. The reason the Minister...

Justice Issues: Statements (21 Nov 2017)

Michael McGrath: Will the email be circulated to Members in the House or is it being emailed to us?

Finance Bill 2017: Report Stage (21 Nov 2017)

Michael McGrath: Deputy Doherty knows the truth of this matter. Fianna Fáil was the only party to campaign in the election last year for the retention of mortgage interest relief. If we had not entered into a confidence and supply agreement and negotiated to the best of our ability, 100% of the relief would be lost at the end of this year. I agree with the Deputy about the consequences that would have...

Finance Bill 2017: Report Stage (21 Nov 2017)

Michael McGrath: What I said is true.

Finance Bill 2017: Report Stage (21 Nov 2017)

Michael McGrath: To be clear, the current position is that mortgage interest relief is to end for all existing recipients at the end of this year. The reason it is being retained in any form is that the confidence and supply agreement provided that it would be retained on a tapered basis. I would love to see it retained at 100% of the existing rate next year but this was the best we could achieve in the...

Finance Bill 2017: Report Stage (21 Nov 2017)

Michael McGrath: I do not agree with the amendment. Those who advocate higher personal tax rates often say that what really matters are the effective rates and not the marginal rates of tax. Effective rates matter, but marginal rates matter as well. The landmark level of income has become €100,000. While someone at that level is paying a marginal rate of 52%, the budget day booklet indicates such a...

Finance Bill 2017: Report Stage (21 Nov 2017)

Michael McGrath: Could the Acting Chairman clarify whether there are time limits?

Finance Bill 2017: Report Stage (21 Nov 2017)

Michael McGrath: On Report Stage we are not speaking to the sections so I will speak to this issue through amendment No. 2. The reductions in the USC brought about in this budget, although modest, will make a difference when combined, in particular, with the raising of the entry point to the marginal rate of tax. To reaffirm the situation, from our party's perspective the provisions of the confidence and...

Personal Insolvency (Amendment) Bill 2017: First Stage (21 Nov 2017)

Michael McGrath: I move:That leave be granted to introduce a Bill entitled an Act to amend the Personal Insolvency Act 2012 to provide clarity with regard to certain applications before the courts. I am pleased to have the opportunity to introduce the Personal Insolvency (Amendment) Bill 2017. In 2012, when the original personal insolvency legislation was passed, this was touted as a game-changer for...

Personal Insolvency (Amendment) Bill 2017: First Stage (21 Nov 2017)

Michael McGrath: I move: "That the Bill be taken in Private Members' time."

Written Answers — Department of Finance: Financial Services Regulation (21 Nov 2017)

Michael McGrath: 131. To ask the Minister for Finance further to Parliamentary Question No. 266 of 7 November 2017 and without disclosing any information pertaining to any individual institution, if the Central Bank has received complaints or carried out an investigation into business loans in which the person is of the view that they were wrongly removed from an interest rate linked to EURIBOR or were denied...

Written Answers — Department of Finance: Tax Clearance Certificates (21 Nov 2017)

Michael McGrath: 147. To ask the Minister for Finance the position regarding an application for a tax clearance certificate by the estate a person (details supplied). [48934/17]

Written Answers — Department of Finance: Help-To-Buy Scheme Administration (21 Nov 2017)

Michael McGrath: 162. To ask the Minister for Finance if he will respond to a matter raised in correspondence (details supplied) concerning the help-to-buy scheme. [49267/17]

Written Answers — Department of Finance: Tax Reliefs Data (21 Nov 2017)

Michael McGrath: 163. To ask the Minister for Finance the number of persons claiming tax relief on third level tuition fees; the cost of the relief for each complete tax year since 2010, in tabular form; and if he will make a statement on the matter. [49313/17]

Written Answers — Department of Finance: Tax Code (21 Nov 2017)

Michael McGrath: 165. To ask the Minister for Finance the position in circumstances when the payment of inheritance tax becomes due by a person living here who is benefitting from an inheritance in respect of the estate of a person in the UK; if his attention has been drawn to the fact that in some cases the tax falls due before the deceased's estate has been administered; and if he will make a statement on...