Results 14,421-14,440 of 19,445 for speaker:Brian Cowen

Written Answers — Disabled Drivers: Disabled Drivers (23 Nov 2006)

Brian Cowen: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to certain limit) on the purchase of a car adapted for the transport of a person with specific severe and permanent physical disabilities, as well as relief from excise on the fuel used in the car up to a certain limit. The disability criteria for eligibility for the tax concessions...

Written Answers — Pension Provisions: Pension Provisions (23 Nov 2006)

Brian Cowen: The 2006 Budget and Finance Act introduced an imputed or notional distribution of 3% of the value of the assets of an Approved Retirement Fund (ARF) on 31 December each year, which notional amount will be taxed at the ARF owner's marginal income tax rate. Funds actually drawn down by ARF owners will be credited against the imputed distribution in that year to arrive at a net imputed amount,...

Written Answers — Pension Provisions: Pension Provisions (23 Nov 2006)

Brian Cowen: I take it that the Deputy is referring to the position in relation to occupational pension schemes. In that regard, I am informed by the Revenue Commissioners that the maximum annual tax relieved contribution that an employee, including a director, may make towards his or her pension scheme is determined by the individual's age and the level of his or her remuneration, subject to an overall...

Written Answers — Tax Code: Tax Code (23 Nov 2006)

Brian Cowen: As regards the rent-a-room scheme, the position is that where an individual receives less than €7,620 in income during a tax year from renting out a room or rooms in his or her own home, that income is exempt from income tax and it is not taken into account for the purposes of social insurance and the health levy. However, if the income received exceeds €7,620, the amount received is...

Written Answers — Property Market: Property Market (23 Nov 2006)

Brian Cowen: In estimating the Pre-Budget Outlook 2007 tax projection, my Department forecast a volume decrease of -1.0 per cent in new house output for 2007. A new house price increase of +5 per cent was also forecast. These new house volume and price growth estimates are subject to change in the Budget 2007 tax forecasts. There are no reliable macro economic indicators currently available which detail...

Written Answers — Tax Code: Tax Code (23 Nov 2006)

Brian Cowen: I am informed by the Revenue Commissioners that there are no specific tax breaks available to build leisure centres, bowling alleys and kiddies play complexes. Tax relief, in the form of capital allowances, may be available under one of the general property-based incentive schemes, depending on where the premises is located and the circumstances of the case. Tax relief is available for the...

Written Answers — Disabled Drivers: Disabled Drivers (23 Nov 2006)

Brian Cowen: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to certain limit) on the purchase of a car adapted for the transport of a person with specific severe and permanent physical disabilities, as well as relief from excise on the fuel used in the car up to a certain limit. The disability criteria for eligibility for the tax concessions...

Seanad: Estimates for Public Services 2007: Statements (23 Nov 2006)

Brian Cowen: I welcome this opportunity to address Seanad Éireann on the Government's pre-budget Estimates for 2007. The 2007 gross pre-budget Estimates provide for expenditure of just over €54 billion, comprising €46.7 billion on the current side and €7.6 billion on the capital side. This represents an increase of just over €4 billion, or 8.1% over the 2006 forecast outturn. The Estimates...

Written Answers — Performance Management: Performance Management (22 Nov 2006)

Brian Cowen: As I indicated in my reply to PQ 33214/06 of 18th October last, I presume that the Deputy is referring to my Department's Report of the Pilot Project on Resource Allocation, Business Planning and Performance Measurement of August, 2005. The conclusions and recommendations of this report informed Government thinking on reform of the Estimates and Budget process signalled in Budget 2005 and...

Written Answers — Travel Insurance: Travel Insurance (22 Nov 2006)

Brian Cowen: Under the EU Insurance Mediation Directive, travel agents who sell insurance only as part of a holiday package are specifically exempt from financial regulation. These agents are therefore not authorised and regulated as financial services providers by the Financial Regulator and do not come within the scope of the Consumer Protection Codes recently introduced by the Financial Regulator. The...

Written Answers — Tax Code: Tax Code (22 Nov 2006)

Brian Cowen: I am advised by the Revenue Commissioners that the Relevant Contract Tax (RCT) Steering Group has made significant progress to date in 2006. As I have previously advised the House, the Revenue Commissioners have made a commitment to assigning 25% of its audit and compliance resources to the construction sector in 2006. In addition to this they launched a national construction project to be...

Written Answers — Tax Code: Tax Code (22 Nov 2006)

Brian Cowen: The scheme of capital allowances for the construction of private hospitals was reviewed by Indecon Economic Consultants as part of the overall review of property tax incentives in 2005. Indecon consulted widely in the course of their review, including consultations with the Department of Health and Children and the Health Service Executive. Their report was published on 6 February 2006 and is...

Written Answers — Tax Evasion: Tax Evasion (22 Nov 2006)

Brian Cowen: I take it that the Deputy is referring to the subject of Revenue prosecutions activity, which is dealt with at Chapter 2.5 of the Comptroller and Auditor General's Report for 2005. I am sure he will appreciate that I cannot comment on individual sentences imposed by the courts for tax evasion. Sentencing is a matter for the judiciary and I can only emphasise this point. The courts clearly...

Written Answers — Tax Code: Tax Code (22 Nov 2006)

Brian Cowen: It is presumed that the Deputy is referring to the statements made by the Chairman of the Revenue Commissioners (Mr. Frank Daly) to the Committee of Public Accounts when he appeared before it on November 9th 2006. As the record of the PAC clearly indicates, Mr Daly made no reference to one in five taxpayers claiming tax relief to date in 2006. In response to questions from the Chairman of...

Written Answers — Capital Expenditure: Capital Expenditure (22 Nov 2006)

Brian Cowen: I propose to take Questions Nos. 68, 113 and 120 together. Following the precedent set in the preparation of previous National Development Plans, an ex-ante evaluation of investment priorities for the next NDP (2007-2013) was commissioned by my Department from the ESRI. The ESRI published its report on 24th October last. As I stated in my comments at the time of the publication of the ESRI...

Written Answers — Tax Code: Tax Code (22 Nov 2006)

Brian Cowen: The State encourages individuals to supplement the social welfare pension arrangements with private pension arrangements by offering tax relief on private pension provision. The tax relief arrangements for private pension provision are long-standing and have helped a significant proportion of the workforce to provide for supplementary pensions thus reducing the pressure on the Exchequer to...

Written Answers — Capital Expenditure: Capital Expenditure (22 Nov 2006)

Brian Cowen: As part of the improved arrangements for managing capital programmes under the rolling multi-annual annual capital envelopes, Departments and Offices may carry over unspent Exchequer capital of up to 10% of their voted overall capital allocation to the following year, thereby ensuring that such amounts are available for spending on capital priorities in the following year. As published in the...

Written Answers — Tax Code: Tax Code (22 Nov 2006)

Brian Cowen: There would clearly be various risks associated with the Deputy's suggestion; any changes that affect the housing sector must be approached with caution as even minor amendments may significantly alter the dynamics of the housing market.

Written Answers — Pension Provisions: Pension Provisions (22 Nov 2006)

Brian Cowen: The position is that prior to the passing of the Finance Act, 1999, any person going on pension under a defined contribution scheme or a retirement annuity contract was required to purchase an annuity with any remaining pension fund moneys, following the drawdown of the appropriate tax-free lump sum. The Finance Act, 1999 introduced changes which gave a significant degree of flexibility and...

Written Answers — Revenue Commissioners: Revenue Commissioners (22 Nov 2006)

Brian Cowen: I have read the recent newspaper report about the survey. I have also recently met with the Irish Institute of Taxation in the context of the pre-budget submission process where this issue was also raised. Customer surveys can be useful in providing feedback on service delivery. In fact, I am advised that Revenue will shortly publish a survey which it conducted of 2000 SMEs, and from which...