Results 14,561-14,580 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Transport, Tourism and Sport: Driver Test Data (17 Nov 2016)

Michael McGrath: 271. To ask the Minister for Transport, Tourism and Sport the number of approved driving instructors for cars currently in the State; if his attention has been drawn to the number of those instructors who are franchisees of a company (details supplied); the percentage of the overall essential driver training lessons accounted for by these franchisees; and if he will make a statement on the...

Written Answers — Department of Jobs, Enterprise and Innovation: Semi-State Bodies Remuneration (17 Nov 2016)

Michael McGrath: 285. To ask the Minister for Jobs, Enterprise and Innovation the details of all pension top-ups paid in respect of chief executives of semi-State companies under the aegis of her Department, including the name of the organisation, the name of the chief executive, the amount of the top-up, the date of payment, and if the top-up was approved by his department in each of the years 2011 to 2016...

Written Answers — Department of Children and Youth Affairs: Commissions of Investigation (17 Nov 2016)

Michael McGrath: 286. To ask the Minister for Children and Youth Affairs the costs incurred to date under headings such as office accommodation, legal expenses, salaries and so on for each commission of investigation formally established since 2012 by her Department; the estimated final cost; the expected completion date of the commission; and if she will make a statement on the matter. [35651/16]

Written Answers — Department of Children and Youth Affairs: Semi-State Bodies Remuneration (17 Nov 2016)

Michael McGrath: 290. To ask the Minister for Children and Youth Affairs the details of all pension top-ups paid in respect of chief executives of semi-State companies under the aegis of her Department, including the name of the organisation, the name of the chief executive, the amount of the top-up, the date of payment, and if the top-up was approved by his department in each of the years 2011 to 2016 to...

Written Answers — Department of Defence: Semi-State Bodies Remuneration (17 Nov 2016)

Michael McGrath: 293. To ask the Taoiseach and Minister for Defence the details of all pension top-ups paid in respect of chief executives of semi-State companies under the aegis of his Department, including the name of the organisation, the name of the chief executive, the amount of the top-up, the date of payment, and if the top-up was approved by his department in each of the years 2011 to 2016 to date, in...

Written Answers — Department of Communications, Energy and Natural Resources: National Broadband Plan Implementation (16 Nov 2016)

Michael McGrath: 230. To ask the Minister for Communications, Energy and Natural Resources when his Department will extend broadband cover to a location (details supplied) in County Cork; and if he will make a statement on the matter. [35394/16]

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: I move amendment No. 73: In page 34, between lines 2 and 3, to insert the following: "(3) 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, including the impact of this on life assurance savers.". This amendment...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: A 2% differential is one thing, but is the policy of Government now to reduce DIRT to 33% over a number of years and to leave the exit tax on other savings and investment products, such as life assurance investment products, at 41% indefinitely? Is it now the case that this link has been done away with or is it that a pragmatic decision has been made for this year on the basis of the cost of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: The cost in 2017 of the 2% DIRT reduction is €9 million. The Minister of State indicated that the cost in a full year will be €14 million. What would have been the extra cost of extending that reduction to the products to which I am referring?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: That would be the additional cost on a full-year basis on top of the €14 million?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: Is the Minister of State saying that the estimate of €50 million relates to the measures in both sections 21 and 22? The budget day documentation contained the estimate of €50 million relating to section 110. It states "and funds changes" but at the time the only draft amendment we had was the one published in September and we did not have the Irish real estate fund, IREF,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: I welcome the changes proposed in section 21 and the amendments put forward by the Minister of State. Section 110 has been in existence, in some form or another, since 1991 and can be traced back to the establishment of the IFSC. It has been rewritten several times since and has grown significantly in terms of application, with more than 3,000 companies with total assets of some €700...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: I know that Revenue has been looking at this issue since November 2015 and I would hope that nobody was waiting for the media and political commentary on it. The report references November 2015 as the date Revenue began to look at the use of section 110 by property related funds. Is that the case?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: For what accounting periods will this apply?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: It applies to any profits booked after 5 September.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: Is there any scope for changing year ends or accounting periods? Have the amendments been designed to deal with any potential for avoidance in this regard?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: The profit participating note is the key thing. This was the mechanism that was being used to sweep profits out of a company and the pillar on which this lawful tax avoidance was built. If the profits are now to be left there and to be properly taxable in accordance with Irish law, what tax rate will apply? There are three types of gains: the interest received by the fund, the capital gain...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: It is 25% tax.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: Is that on the profits from interest received or the capital repayments in excess of the amount they paid for the loan?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Michael McGrath: Are capital gains on the disposal of a portfolio regarded as profits or chargeable gains?