Results 1-20 of 14,957 for in 'Written Answers' speaker:Michael McGrath

Written Answers — Department of Finance: Tax Reliefs (20 Jun 2024)

Michael McGrath: Mortgage Interest Tax Relief is available to taxpayers in respect of their principal private residence in the State where the outstanding mortgage balance was between €80,000 and €500,000 as of 31 December 2022, and the taxpayer is compliant with Local Property Tax requirements. The relief also extends to a qualifying property located in the State, which is the sole or main...

Written Answers — Department of Finance: Tax Code (20 Jun 2024)

Michael McGrath: The Government is 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 businesses, the Government provided for temporary cuts in excise rates which, inclusive of VAT amounted to 21 cents, 16 cents and 5.4 cents per litre on petrol, auto-diesel and marked gas...

Written Answers — Department of Finance: Insurance Industry (20 Jun 2024)

Michael McGrath: As the Deputy is aware, neither I nor the Central Bank of Ireland can interfere with the provision or pricing of insurance products due to the EU Solvency II Directive. However, through the Action Plan for Insurance Reform, the Government is committed to improving insurance costs and availability for householders, individuals and businesses across Ireland. Notwithstanding this, I fully...

Written Answers — Department of Finance: Housing Schemes (20 Jun 2024)

Michael McGrath: The Help to Buy (HTB) Scheme was introduced in 2017 with the purpose of assisting first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home. The relief is only available in respect of new builds, with a view to increasing the supply of new housing and stimulating demand. The incentive gives a refund of Income Tax and Deposit...

Written Answers — Department of Finance: Tax Code (20 Jun 2024)

Michael McGrath: I am aware, from recent media reports, of reports of payments made to discourage or withdraw planning objections or to ‘compensate’ for inconvenience during developments. However, under Section 851A of the Taxes Consolidation Act 1997 Revenue is precluded from commenting on the tax affairs of an individual, business or entity, and so Revenue would not be in a position to provide...

Written Answers — Department of Finance: Tax Data (20 Jun 2024)

Michael McGrath: The figures supplied in response to Parliamentary Question No. 292 of 9 April 2024 are projections of future carbon tax revenue yields estimated by the Department of Finance based on VAT exclusive excise data from the Revenue Commissioners and forward projected estimates of energy use from the Sustainable Energy Authority of Ireland (SEAI) which take into account agreed national Climate...

Written Answers — Department of Finance: Tax Code (20 Jun 2024)

Michael McGrath: As the Deputy will be aware, Section 598 of the TCA 1997 grants relief from CGT on disposals by individuals aged 55 and over of qualifying business or farm trade assets to persons other than that individual’s child. Where an individual is aged 55 to 65 and the consideration received on the disposal of such assets does not exceed €750,000, full relief is given. For an individual...

Written Answers — Department of Finance: Illicit Trade (19 Jun 2024)

Michael McGrath: Revenue is committed to targeting the illicit tobacco trade and implements a range of measures to identify and target the smuggling, supply or sale of illicit tobacco, including duty free tobacco in excess of duty-free allowances, and where possible, prosecuting those involved. In its efforts to detect the importation of excess duty-free goods, Revenue uses a combination of risk analysis,...

Written Answers — Department of Finance: Tax Data (19 Jun 2024)

Michael McGrath: The Finance (Local Property Tax) Act 2012 (as amended) provides that any building or structure which is used as, or is suitable for use as a dwelling is liable to LPT. Property owners are required to self-assess their property’s liability to LPT. Where a property is uninhabitable to such an extent that it is not suitable for occupation (or not actually occupied), it is outside the...

Written Answers — Department of Finance: Revenue Commissioners (19 Jun 2024)

Michael McGrath: I am advised by Revenue that it operates a number of different types of mobile scanners. In November 2021, Revenue awarded a contract for the provision of a new mobile container scanner to replace one that had reached end-of-life. The total cost for this container scanner, including annual maintenance costs for up to 10 years, is €1.79m. Revenue received a grant of €1.08m...

Written Answers — Department of Finance: Planning Issues (18 Jun 2024)

Michael McGrath: The Residential Zoned Land Tax (RZLT) is a new tax introduced in Finance Act 2021 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 contained...

Written Answers — Department of Finance: International Protection (18 Jun 2024)

Michael McGrath: I am informed by Revenue that, by way of concession, Ukrainians who came to the State as a result of the war in their country and who continue to be employed by their Ukrainian employer are treated as not being liable to income tax and USC on the employment income which is attributable to the performance of their Ukrainian employment duties in Ireland. This treatment applies solely to...

Written Answers — Department of Finance: European Union (18 Jun 2024)

Michael McGrath: There is a principle of “universality” with regard to contributions to the EU budget (Multiannual Financial Framework), the current round of which amounts to €1.2 trillion over seven years from 2021 to 2027. This principle means that each member state makes its contribution to the entire budget rather than individual contributions to each individual spending area. ...

Written Answers — Department of Finance: International Agreements (18 Jun 2024)

Michael McGrath: The provisions of the Ireland and Morocco Double Taxation Convention apply to persons, including companies, who are resident of either Contracting State or both as defined by the Convention. Benefits under the Convention are only extended by one State to a resident of the other State and with respect to income arising in either State. Persons not so resident and sources of income not from...

Written Answers — Department of Finance: Primary Medical Certificates (18 Jun 2024)

Michael McGrath: The Disabled Drivers & Disabled Passengers Scheme (DDS) provides relief from VRT and VAT on an adapted car, as well as an exemption from motor tax and an annual fuel grant. The vehicle must be specially constructed or adapted for use by the Primary Certificate (PMC) holder. A vehicle that has not been adapted for use by the PMC holder, including vehicles with automatic...

Written Answers — Department of Finance: European Court of Justice (18 Jun 2024)

Michael McGrath: The Department of Finance had no fine issued against it by the Court of Justice of the European Union for the period 2010 to date.

Written Answers — Department of Finance: Universal Social Charge (18 Jun 2024)

Michael McGrath: I propose to take Questions Nos. 117 and 118 together. I am advised by Revenue that the estimated costs for the proposals outlined by the Deputy on a first and full year basis are shown in the below table. As a reduced rate of USC of 2% currently applies for those aged 70 years or older with income of €60,000 or less and for those who hold a full medical card with income of...

Written Answers — Department of Finance: Tax Code (18 Jun 2024)

Michael McGrath: Following engagement with the Deputy's office, I understand that this Parliamentary Question relates to a situation where an individual is unable to avail of the Taxsaver scheme or the Cycle to Work scheme as their employer does not participate in either scheme. I am informed that the Deputy wishes to know whether the individual can avail of either scheme by another method. Section...

Written Answers — Department of Finance: Further and Higher Education (18 Jun 2024)

Michael McGrath: The Greystones Media Campus is a privately funded project in which the Ireland Strategic Investment Fund (ISIF) is involved as a commercial investor. On foot of information provided to me by the NTMA, some background and an update on developments related to the project is provided below. ISIF carefully evaluated for a number of years’ ways in which it could invest on a...

Written Answers — Department of Finance: Taxi Regulations (13 Jun 2024)

Michael McGrath: I propose to take Questions Nos. 70 and 71 together. The application of VAT to the supply of services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with VAT law, the transport of passengers and their accompanying baggage by taxi drivers is exempt from VAT. However, all other services provided to drivers – such as the provision of taxi booking...