Results 16,881-16,900 of 19,445 for speaker:Brian Cowen

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: I am happy to tell the House that the tax credits for widowed persons, blind persons, incapacitated children, dependent relatives and those aged 65 and over are being further increased this year, by amounts ranging from more than 20% to 50%. The tax relief for persons living in private rented accommodation is being increased by 10% to assist those faced with increased rental costs. The tax...

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: This is simply not fair, although I should point out that high-earning non-payers are in a very small minority. Accordingly, I propose now to place an annual overall cap on the extent to which specific incentive reliefs can be availed of. The cap will apply to those with incomes over €250,000 per year.

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: It will operate by reducing by half the amount of income that can be relieved from tax by certain specified tax reliefs. This measure will help eliminate the phenomenon of tax free millionaires and increase the effective rate of tax on those with high income towards a minimum of 20%.

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: Further details of how this will work are set out in the Summary of Budget Measures. This will require some complex new legislative provisions and I propose accordingly that the new system will apply for all tax years from 1 January 2007.

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: This annual cap system will also apply to artist's relief from the same date. There is no change in the tax treatment of income now exempt under the artist's relief scheme where that income is less than €250,000 per year. The vast majority of people are under that bracket. Pensions Tax equity applies not only to taxpayers' current income but also to how taxpayers provide for their income...

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: A new regime appropriate to the industry will be discussed with the European Commission. I also propose to disallow interest on personal loans taken out to acquire shares in, or provide loans to, rental income companies. Keeping consumer prices down Regarding indirect taxation, I am proposing, like last year, to leave the main excises and VAT rates as they are. This is a significant...

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: I am beginning by halving the excise rate on kerosene and LPG used for home heating from midnight tonight. This measure will cost €46 million in a full year. Betting tax Earlier this year I initiated a review of betting duty. One of my prime concerns is how to protect the revenue base on a fair basis in view of the prevalence of effective tax-free betting on the Internet. With this in view,...

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: To meet this challenge further, I am announcing today the establishment of a carbon fund to enable the State to purchase carbon credits. This fund will be financed on a multi-annual basis and I am providing €20 million in respect of 2006. The National Treasury Management Agency will be the carbon credit purchasing agency for the State.

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: More details on this initiative will be provided by the Minister for the Environment, Heritage and Local Government. Biofuels I have agreed with my colleague, the Minister for Communications, Marine and Natural Resources, that Ireland should set an initial target of 2% of the fuel market to be taken up by biofuels by 2008 and that we should achieve this through targeted excise relief...

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: There are clear benefits to all from this initiative. The environment will benefit in terms of a reduction in CO2 emissions. It will enhance security of supply of fuels, and create jobs and outlets for agriculture production. It is estimated that the programme I am announcing could ultimately give rise to hundreds of extra full-time jobs in the State. This new relief will require EU approval...

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: I intend to keep the door open for other sectors and private individuals to participate. The banks have indicated they are willing to discuss with me how this initiative can be successfully advanced. I will be asking other interested parties to also assist in developing an effective model. Reforming the budgetary process Last year I indicated that the Government was open to reviewing the...

Budget Statement 2005. (7 Dec 2005)

Brian Cowen: I am honoured to be in the House again to present the 2006 budget. This budget reflects the priorities of the Government, and I believe it reflects the needs and hopes of the Irish people also. Introduction We are living in the midst of the longest and strongest era of sustained prosperity in our history. This did not happen by chance. It involved careful planning. It involved investment in...

Written Answers — EU Directives: EU Directives (6 Dec 2005)

Brian Cowen: EU public procurement directives were reviewed recently. Revised directives were adopted and published by the Commission in April 2004. The revision adapts the regime to modern conditions. The new directives promote and facilitate the implementation of design for all and accessibility requirements in accordance with national policy and legislation. Legislation put in place by the Department...

Written Answers — Tax Yield: Tax Yield (6 Dec 2005)

Brian Cowen: I am informed by the Revenue Commissioners that statistics are not available which would enable the information requested by the Deputy to be provided. Mink farms are classified within the same economic sector with a wide range of other activities and services and could not be separately identified without conducting a protracted investigation of the Revenue Commissioners' records.

Written Answers — Departmental Contracts: Departmental Contracts (6 Dec 2005)

Brian Cowen: Public procurement legislation allows contracting authorities to set out conditions to be observed in the performance of public contracts, provided that such conditions are compatible with EU Community law and are indicated in the tendering and contract documentation. These can include certain social conditions. The conditions to be prescribed are a matter for individual contracting...

Written Answers — Tax Code: Tax Code (6 Dec 2005)

Brian Cowen: I propose to take Questions Nos. 229, 230 and 240 together. The position is that charitable tax exemption is provided for under section 207 of the Taxes Consolidation Act 1997. To be eligible for charitable tax exemption a body must be established solely for charitable purposes and the exemption applies only in so far as the funds are applied for charitable purposes. The administration of the...

Written Answers — Economic Policy: Economic Policy (6 Dec 2005)

Brian Cowen: I do not accept the contention in the Deputy's question. All commentators agree that Ireland has a sustainable potential growth rate of close to 5%. This potential growth rate is not materially affected by the increase in interest rates referred to.

Written Answers — Tax Code: Tax Code (6 Dec 2005)

Brian Cowen: I am advised by the Revenue Commissioners that, for the purpose of capital gains tax, the date of disposal is the date of the contract unless the contract is conditional, in which event the time of disposal is the time when the conditions are satisfied. In the case of the person in question, he disposed of property by way of contract dated 2 December 2003 without any special conditions that...

Written Answers — Tax Code: Tax Code (6 Dec 2005)

Brian Cowen: I am advised by the Revenue Commissioners that this may be a situation where dwelling house relief under section 151 of the Finance Act 2000 applies. This section provides that gifts or inheritances of a dwelling-house taken on or after 1 December 1999, will be exempt from capital acquisitions tax provided that the following conditions are complied with: the recipient must have occupied the...

Written Answers — Secret Service: Secret Service (6 Dec 2005)

Brian Cowen: The Estimate for the Secret Service as published in the Revised Estimates for public services for 2005 was €786,000 and the Estimate for 2006 is €806,000, an increase of 2.5%. It is not the practice to divulge information or explanations relating to expenditure on this Vote.