Results 14,501-14,520 of 27,945 for speaker:Michael McGrath

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael McGrath: We are supportive of the amendment tabled by the Minister. We spoke in support of Deputy Joan Burton's amendment on Committee Stage. Those living in local authority homes that are most likely to avail of the home renovation scheme are those who intend to avail of the tenant purchase scheme and buy their home. This raises an issue because my reading of the new tenant purchase scheme, which...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I have not heard a suggestion of tax evasion, deliberate tax avoidance, falsified returns or anything like that. What is at issue here is the operation of a system and how Revenue has identified a flaw in the system that resulted in an over-compensation of VAT, particularly for one sector. The Minister has outlined a process that will be provided for in the legislation. He has given some...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I withdraw my amendment on the basis of the commitment given by the Minister.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I thank the Minister for his reply. Listening to the reply it appears he has not made up his mind as to whether he believes this is the right direction in which to go. It is fair to say he has raised some concerns but he has a group that will now examine the option of introducing some form of VAT relief for charities in Ireland and I welcome that. One point the Minister made was that...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I withdraw the amendment.

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I move amendment No. 99:In page 91, line 33, to delete “1 January 2017” and substitute “1 January 2018”. This amendment relates to the proposed amendment to the flat-rate scheme for unregistered farmers, which could result in a restriction in the flat-rate addition in some circumstances. The issue, as I understand it, has particular relevance to the poultry...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I thank the Minister for his reply. It is acceptable to me. An amount of thought must go into it, given that there are several potential implications across the tax code if the use of land in this way is not deemed to be agricultural in nature. Those who are investing in this type of technology will argue that the land can still be made available for dual purpose, for example, an area...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I move amendment No 98:In page 89, between lines 26 and 27, to insert the following:“Value-Added Tax in respect of charities 45. The Minister shall, within 3 months of the passing of this Act, prepare and lay before Dáil Éireann a report on the introduction in 2017 of a capped Value-Added Tax compensation scheme for charities with reimbursement to commence in 2018.”....

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I move amendment No. 91:In page 69, between lines 9 and 10, to insert the following: “Capital Gains Retirement Relief and Agricultural Relief for farmland with solar panels30. The Principal Act is amended in section 664(1) by substituting the following for the definition of “farm land”:“ ‘farm land’ means—(a) land in the State wholly or mainly...

Written Answers — Department of Finance: Tax Collection (23 Nov 2016)

Michael McGrath: 75. To ask the Minister for Finance if he will address a taxation query (details supplied). [36437/16]

Written Answers — Department of Health: Primary Care Centres Provision (23 Nov 2016)

Michael McGrath: 148. To ask the Minister for Health the status of the delivery of a new primary care centre (details supplied) County Cork. [36384/16]

Finance Bill 2016: Report Stage (22 Nov 2016)

Michael McGrath: There is general agreement across the House that there should be equal tax treatment for the self-employed. An important start was made last year and a further step has been taken this year. Obviously, from our point of view, we would have liked to have seen the figure brought up to two thirds in accordance with the three-year plan laid out the previous year. As such, I ask the Minister if...

Finance Bill 2016: Report Stage (22 Nov 2016)

Michael McGrath: I welcome the amendment. I raised this issue on Committee Stage. In the previous Finance Bill the issue was dealt with for non-resident non-executive directors who were given an exemption from taxation in respect of the reimbursement of expenses but a different regime continued to apply to Irish resident non-executive directors. It is important to be clear that we are talking about the...

Finance Bill 2016: Report Stage (22 Nov 2016)

Michael McGrath: I reject the slur Deputy Pearse Doherty threw across the floor about our motivation and that we are there to protect the wealthy at all costs. I remind the Deputy and his colleagues in Sinn Féin that far more ordinary people vote for Fianna Fáil than for his party. That is the reality. We, as a party, represent all sections of society. If one looks at the opinion poll data,...

Finance Bill 2016: Report Stage (22 Nov 2016)

Michael McGrath: From my party's point of view, if the Finance Bill were to be amended to make provision for such a report to be prepared it would send a very negative and indeed damaging signal in terms of investment in Ireland. It must be stated we have already very high capital tax rates in Ireland of 33% on capital gains tax and capital acquisitions tax. We have relatively high income tax rates in this...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: Mr. Masding and his colleagues are welcome to the committee. I thank them for providing us with so much information in advance by way of the questionnaire. Do I have a ten-minute time slot?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: I will keep my contribution as interactive as I can. On the issue of the standard variable rate and the managed variable rate, which Mr. Masding introduced, he said that one in four of his variable rate customer base has moved across to the managed variable rate. According to the answer provided to question No. 9, a total of 49,000 residential mortgage customers remain on the SVR. Is that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: They are on a rate of 4.5%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: Every one of them could gain something if they moved to a managed variable rate immediately.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Permanent TSB (22 Nov 2016)

Michael McGrath: What was the logic of introducing the MVR method as opposed to reducing the SVR? Why did the bank do it that way?