Results 1,801-1,820 of 11,861 for speaker:Brian Hayes
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: There is a straightforward reason for this. These were overlooked last year when we made the changes to last year's Finance Bill. My understanding is that Senator Zappone raised these specific issues with the Minister for Finance, Deputy Noonan, in the course of the year and he gave an undertaking to deal with these issues at the next available opportunity. The straight answer is that they...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: Do not bank on it.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: The Deputy is making an argument for deferral of the property tax in this regard. I do not disagree with what the Deputy is saying. There is potential for more here. I see this as a kind of widening of the tax base as well. If we are serious about the employment side, we must look at every other form of taxation to keep the 1.8 million who are working at work, and more. Yesterday the...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: Yes.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: This section exempts certain policies of assurance from CAT where neither the disponer nor the beneficiary of the policy is domiciled or ordinarily resident in the State. I understand this involves foreign life policies. The intention of the legislation is to provide that life assurance policies are not subject to Irish CAT in the situation where neither the disponer nor the beneficiary of...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: My understanding is that the CAT exemptions only apply where neither disponer nor recipient is resident or domiciled in the State. In most cases, funds hold no assets in the State. Therefore, we would have no right to apply CAT in the majority of cases. The exemption was introduced to ensure clarity. I understand the exemption already exists, but it is being put in the tax code for the...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: For the purpose of clarity.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: Why is there a difference in a full year?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: We understand it is the timing of the tax payments. One may have the liability in one year but only pay it in the following year. I think that is the answer.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: We will circulate a note on that issue as well.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: It depends on when one does one's assessment.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: We will come back before Report Stage if there is a lacuna in the issue raised.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: Yes.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: That is a fair point. We will come back specifically on that point.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: It is the threshold.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: This is a wealth tax as well as the increases in DIRT, CGT and CAT in recent years. The assessment we have to make is whether by increasing the taxes or lowering the thresholds we actually get more money. The amount referred to in the Deputy's amendment was €187,000. I am not dealing with the amendment, Chairman, but I refer to the point he made.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: He is right in saying that is the average house price but, of course, the average varies hugely depending on the part of the country. We are constantly reviewing the issue. He set this out in his pre-budget submission and this was an area on which the Minister agreed with him in terms of trying to get more in this area. In 2009 the effective tax rate was 20%, then 25%, later 30% and now...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: Once only.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: The insurance company pays the stamp duty.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (Resumed) (7 Mar 2013)
Brian Hayes: The company pays the stamp duty to Revenue. I am not going to rehearse the arguments. These are issues for the Minister for Health to deal with. The Deputy knows the Government's position on this issue. We need to see further progress. What model we follow ultimately is an issue for the Department of Health and for the Government. In respect of this section the Minister for Finance is...