Results 1,541-1,560 of 2,156 for speaker:Tom Parlon

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: Senator John Paul Phelan's recommendation would provide that the VAT registration threshold for traders in services would increase from €25,500 to €75,000. The Senator will appreciate that EU VAT law, with which Irish law must comply, determines the rules in respect of any change in VAT registration thresholds. This means that it is possible to increase the thresholds but only in line...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: This recommendation is opposed. It refers to section 113, which deals with the Sixth Schedule of the Value-Added Tax Act 1972. This schedule lists goods and services that are liable at the reduced rate of VAT of 13.5%. The paragraph in question deals with hot food and drink purchased for consumption, whether at a take away outlet, a garage, a supermarket or elsewhere. The purpose of the...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: No.

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: That is in addition to the €5.2 million for the changes already in the Bill. An identical amendment was discussed in the Dáil. In the course of the debate, Deputy Bruton indicated that the purpose of his amendment was to introduce equity of relief between mortgage interest relief and tax relief on rents. I assume that Senator Phelan's recommendation has the same motivation. Mortgage...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: Section 7 provides for a change in the method used to calculate the value of the use of land for benefit-in-kind purposes. At present, the value of the benefit in kind is determined as being 5% of the land's market value. While this may be satisfactory in the case of land for normal use, it can give unreasonably high values for land with development potential. In future, benefit in kind will...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: The amendment inserts a new definition in subsection 1 to provide that, for the purposes of benefit-in-kind charges, premises includes lands. The taxable value of lands will be calculated in the same manner as premises, that is, on the rent that it might reasonably be expect to attain on letting from year to year. At present, the taxable value of lands is calculated at 5% of its market value....

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: There is an enormous amount of detail in the Bill, which is why there are so many officials from the Department of Finance and the Revenue Commissioners in the House today. The conditions for exemption are very tightly drawn. Obviously, there is a need for expenditure on security for employees. This was exemplified recently in one of the biggest heists in Dublin, where the employees of a...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: This section refers to the provision of security services. If someone feels that his or her personal security is at risk from subversives or criminals because of the sensitivity of his or her job, the cost of protection will not be taxed as a benefit in kind. This covers everything including uniforms, individuals, security devices, CCTVs or whatever else is involved.

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: Yes. Until now the provision of special home security to an employee, connected with his or her job, would have been chargeable.

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: I agree with the speakers on the significance of the problem. The recommendation is essentially a system of tax allowances at the standard rate of income tax for those paying for child care services. The allowance proposed is limited to the amount actually paid in the year, or to €7,000, whichever is less. If the taxpayer has insufficient income to use up all the allowance, the excess is...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: The Senator will not have to hold it too long because there will be a major announcement next Tuesday when there will be the first official sod-turning in Sligo for the Department of Social and Family Affairs. There will be a continuous roll-out after that to which the Senator can look forward. Taken together, these represent substantial measures to assist with the cost of child care. I...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: What about the 279% increase in child benefit?

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: As Senator Mansergh said, €1.9 billion is a very substantial contribution to child care costs. A combination of issues puts extra pressure on the area. There is practically full employment in this country and people spend a large section of their time commuting. Senator Phelan raised the issue, which I suspect is an urban myth, about the group in Kerry which made an application for the...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: I am surprised to hear that and do not believe that can be the case.

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: The Senator should name the group because there is no point throwing a comment. The criteria are very strict. It is the responsibility of the Minister for Justice, Equality and Law Reform, Deputy McDowell, and he wants to ensure value for money on behalf of himself, his own Department and the Government. The reason that will happen is that groups will be ready to go. A group was recently...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: If I understand the Senator's recommendation correctly, he is proposing that the Minister for Finance take power to make regulations to provide that where payments made to State and other bodies qualify for income tax relief, the service providers would make this information available to Revenue Commissioners in order that such information could then be used by them to deal with potential...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: The Mullingar accord again.

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: This recommendation seeks to amend the provision of a new section being inserted in the Taxes Consolidation Act which imposes a statutory obligation on an individual wishing to claim a tax relief for a particular year to keep all such records as are necessary to prove the claim. The particular provision which the Senator seeks to amend requires taxpayers to keep those records for six years...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: I am quite familiar with the biofuel business and with a particular project in the south east, which is the Senator's area. The responsibility for the promotion of biofuels falls within the remit of the Minister for Communications, Marine and Natural Resources. However, it is accepted that excise relief is an option in encouraging the promotion of biofuels as an alternative fuel. It may not...

Seanad: Finance Bill 2005 [Certified Money Bill]: Committee and Remaining Stages. (23 Mar 2005)

Tom Parlon: I am aware Ireland is not unique in this regard. Every other country which has adopted the biofuels scheme and which is foregoing excise duty has been required to obtain approval from the EU Commission regarding State aid. The Senator referred to sugar beet as a possible biofuel. Sugar beet was designed for the production of sugar. Oilseed rape is the subject of the proposed project in this...