Results 21-40 of 27,437 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Data (16 Apr 2024)

Michael McGrath: Following consultation with the Deputy, I understand that the question relates to reducing the personal, PAYE and earned income tax credits of taxpayers by 2 per cent in respect of each €1,000 of income in excess of €180,000 and not exceeding €230,000, such that those on incomes in excess of €230,000 have no entitlement to those credits. I am advised by...

Written Answers — Department of Finance: Tax Exemptions (16 Apr 2024)

Michael McGrath: I am advised by Revenue that income received for providing accommodation is usually taxable. However, where rental payments meet the conditions for rent-a-room relief, which is provided for in section 216A TCA, a tax liability may not arise. The relief applies to sums arising to an individual in respect of the letting of a room or rooms in his or her home for residential purposes and the...

Written Answers — Department of Finance: Banking Sector (16 Apr 2024)

Michael McGrath: I presume the Deputy is referring to the Contingent Reimbursement Model operating the UK. It is a voluntary code that sets out consumer protection standards to reduce APP scams. Information on the internet indicates that signatory firms commit to procedures to detect, prevent and respond to APP scams, prevention of accounts being used to launder the proceeds of APP scams, and reimbursing...

Written Answers — Department of Finance: Housing Schemes (16 Apr 2024)

Michael McGrath: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund on Income Tax and Deposit Interest Retention Tax paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act 1997 outlines the definitions and...

Written Answers — Department of Finance: Tax Exemptions (16 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 228, 229, 233 and 236 to 239, inclusive, together. As the Deputies will be aware, the VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under our legislation the provision of medical care services by recognised medical professionals are exempt from VAT. This includes health professionals...

Written Answers — Department of Finance: Tax Code (16 Apr 2024)

Michael McGrath: At the outset, the Deputy should note that both I and the Government are conscious of the implications of fuel costs for all sectors of society. This is reflected in the fact that in 2022 in light of the acute impact rising prices were having on households and business, the Government provided for excise rate reductions in the order of 21, 16 and 5.4 cent per litre on petrol, auto diesel...

Written Answers — Department of Finance: Currency Circulation (16 Apr 2024)

Michael McGrath: Where a business places no restrictions on the means of payment it is prepared to accept, it must accept cash as legal tender when offered by a customer to settle a debt that has arisen. If a business specifies payment must be in a form other than cash, the customer cannot subsequently claim a legal right to pay in cash. This can be achieved by, for example, placing a sign stating,...

Written Answers — Department of Finance: Covid-19 Pandemic Supports (16 Apr 2024)

Michael McGrath: The Tax Debt Warehousing scheme has provided vital and practical liquidity support to businesses by assisting them with their cash-flow during difficult trading periods. The Scheme allowed businesses to temporarily defer VAT and Employer PAYE, certain self-assessed income tax liabilities, and Temporary Wage Subsidy Scheme and Employment Wage Subsidy Scheme overpayments on an interest-free...

Written Answers — Department of Finance: Departmental Reports (16 Apr 2024)

Michael McGrath: As the Deputy is aware the Housing for All Investment Workstream, chaired by the Department of Finance, was established to support the delivery of the Government's Housing for All plan. A key commitment of the Investment Workstream has been to advance the understanding of the funding landscape for the residential development. In 2023, the Department published a comprehensive report on the...

Written Answers — Department of Finance: Departmental Reviews (16 Apr 2024)

Michael McGrath: As the Deputy is aware, in July 2023, I announced an extension to the Ireland Strategic Investment Fund (ISIF) funding programme to deliver new homes, with a new €400 million allocation for equity-based investments in new housing projects. This allocation builds on ISIF’s existing housing related commitments of €1.2 billion which has supported the delivery of 11,250...

Written Answers — Department of Finance: Housing Schemes (11 Apr 2024)

Michael McGrath: The Help to Buy (HTB) scheme assists first-time purchasers with the deposit they need to buy or build a new house or apartment. The scheme provides for a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to certain conditions being met. One of the key policy aims of the HTB scheme is to incentivise the construction of...

Written Answers — Department of Finance: Pension Provisions (11 Apr 2024)

Michael McGrath: The well-established policy objective for tax relief on pension contributions is to encourage individuals to save for retirement; to help meet a targeted level of supplementary pension coverage and income replacement; and to assist in preventing an over-reliance on State support for citizens in later life, particularly given emerging demographic developments. Accordingly, pensions have...

Written Answers — Department of Finance: Tax Yield (11 Apr 2024)

Michael McGrath: I am advised by Revenue that traders are not required to identify the VAT yield generated from the supply of specific goods and services on their VAT returns. Therefore, it is not possible to provide the value of VAT collected with respect to petrol and diesel using information provided on tax returns. However, using Revenue’s excise clearances volumes and available third party data...

Written Answers — Department of Finance: Tax Exemptions (11 Apr 2024)

Michael McGrath: The Residential Zoned Land Tax (RZLT) was introduced in Finance Act 2021. It is a new tax which seeks to increase housing supply by encouraging the activation of development on lands which are suitably zoned and appropriately serviced. It aims to bring those lands which have benefitted from investment in services and are capable of being developed forward for housing. The tax is an action...

Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Second Stage (10 Apr 2024)

Michael McGrath: I move: “That the Bill be now read a Second Time.” As announced at budget 2024, this Bill will provide the basis for two new funds: the future Ireland fund and the infrastructure, climate and nature fund. It will also provide for the dissolution of the National Reserve Fund. The Government’s approach to developing these two funds is based on the assumption that a...

Ceisteanna Eile - Other Questions: Departmental Reviews (10 Apr 2024)

Michael McGrath: I thank the Deputies. I got the appeals board back up and running. It is now working its way through the backlog. The latest information I have from the secretary of the board is that 834 appellants were on the waiting list as of 21 February. As I said, since the appeals process was reconstituted, 334 appeals have been assessed. The board has prioritised the waiting list using clinically...

Ceisteanna Eile - Other Questions: Tax Code (10 Apr 2024)

Michael McGrath: I understand that the Deputy is referring to the film industry stakeholder forum that took place on 8 February this year, convened by the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Media, and in which I am aware the Deputy was a participant, as he said. The forum was attended by a broad range of stakeholders, including representative bodies from the Irish audiovisual sector,...

Ceisteanna Eile - Other Questions: Tax Code (10 Apr 2024)

Michael McGrath: Is that to sign?

Ceisteanna Eile - Other Questions: Departmental Reviews (10 Apr 2024)

Michael McGrath: I propose to take Questions Nos. 9, 18 and 40 together. The Deputies will be aware that the final report of the national disability inclusion strategy, NDIS, transport working group's review of mobility and transport supports, including the disabled drivers and disabled passengers scheme, DDS, endorsed proposals for a modern, fit-for-purpose vehicle adaptation scheme in line with...

Ceisteanna Eile - Other Questions: Departmental Reviews (10 Apr 2024)

Michael McGrath: While I do not have data on the rate of success in the appeals, I can say the volume of activity is much improved and 334 appellants have been assessed since the appeals process recommenced in December. I do not have the split - I am sure it can be provided through parliamentary questions and so on - but it represents a lot of progress. I think well over 1,000 people were on the waiting...