Results 1-20 of 403 for land speaker:Michael McGrath

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Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (21 May 2024)

Michael McGrath: ...of Housing, Local Government and Heritage continues to liaise with local authorities on the implementation of the Derelict Sites Act 1990 with a view to improving its effectiveness. In respect of land hoarding and property speculation, there are already a number of tax measures in place that are designed to discourage such activities. These include: the vacant homes tax, which I have...

Written Answers — Department of Finance: Tax Code (21 May 2024)

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

Written Answers — Department of Finance: Tax Code (21 May 2024)

Michael McGrath: ...end-March 2024, there were 31,800 new homes completed. The Government is acutely aware of challenges in the housing market and ensuring there is an adequate supply of suitable zoned and serviced land available for house building is a key priority. The Residential Zoned Land Tax or RZLT was introduced in Finance Act 2021 and seeks to increase housing supply by encouraging the activation...

Written Answers — Department of Finance: Tax Code (21 May 2024)

Michael McGrath: ...Government continued to fulfil this commitment through Budget 2024, which brought forward a record €5.1 billion budget for capital investment in housing. This includes €2.6 billion in exchequer funding, €978 million in Land Development Agency (LDA) funding, and €1.5 billion in Housing Finance Agency (HFA) funding. The latest CSO data on planning permissions...

Written Answers — Department of Finance: Tax Exemptions (21 May 2024)

Michael McGrath: ...Farmer Relief, provided for in Section 81AA of the Stamp Duties Consolidation Act 1999 and which sets out the qualification criteria in relation to age, agricultural qualifications, and the use of land. In that regard, a transferee must: - be under 35 years of age on the date of execution of the deed of transfer of the land - hold a trained farmer qualification, as defined in...

Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Report and Final Stages (15 May 2024)

Michael McGrath: ...fund. Second, this fund and the €3.15 billion earmarked for use between 2026 and 2030 for environmental purposes is not the sum total of Government expenditure. It is just one piece of the overall landscape of Government expenditure. We all recognise the challenges that exist in the housing sector but I believe, when I look at the data and figures, that we are making progress on...

Committee on Budgetary Oversight: Stability Programme Update: Discussion (8 May 2024)

Michael McGrath: We have a range of different sources of funding for social and affordable housing, cost rental and so on, including through the Land Development Agency, LDA, where there is capital capacity of about €5 billion of funding for the development of such homes. We have HBFI. We have ISIF, which is focused on private development, but that yields social and affordable housing as well in the...

Committee on Budgetary Oversight: Stability Programme Update: Discussion (8 May 2024)

Michael McGrath: ...O'Brien, funded by the Minister, Deputy Donohoe, to help to bridge that gap and overcome the challenge. It involves the different inputs when it comes to building new homes. Have we enough zoned land and is it serviced? Can we continue to support the work of Uisce Éireann in terms of their multi-annual capital plan in order that water and wastewater services are provided for land?...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: ...deal first with the issue of corporate tax and the OECD, which Deputy Durkan raised. It is very difficult to make a prediction when it comes to corporate tax reform and the potential cost for Ireland. There are scenarios in which, if pillar 1 is agreed and implemented in 2026, the cost could be greater than we have already provided for. There are certainly scenarios that point to that....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: ...1,800 acquisitions and 2,000 were delivered through leasing programmes. More than 4,000 affordable housing supports were delivered in 2023 via approved housing bodies, AHBs, local authorities, the Land Development Agency, LDA, the first home scheme, cost rental, the tenant in situ scheme, the vacant property refurbishment grant and so on. We can see the scale of what is being done and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: ...direct Exchequer capital and the role of the LDA, which is growing and expanding all the time. There is capacity of up to €5 billion supporting the LDA to deliver approximately 21,000 units on lands in the medium to long term. 5,000 units are to be delivered under Project Tosaigh which delivers units on private land. I have highlighted what I am doing in relation to funding...

Written Answers — Department of Finance: Housing Schemes (30 Apr 2024)

Michael McGrath: ...to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (“DIRT”) paid in Ireland over the previous four years, subject to limits outlined in the legislation. Section 477C of the Taxes Consolidation Act outlines the definitions and conditions that apply...

Written Answers — Department of Finance: State Properties (25 Apr 2024)

Michael McGrath: ...which properties act/acted as security. NAMA’s portfolio has been significantly deleveraged and its remaining secured property portfolio is largely concentrated in the residential development land sector and not individual property units. NARPS (National Asset Residential Property Services) is a NAMA subsidiary which was established to expedite social housing delivery. NARPS...

Written Answers — Department of Finance: Tax Exemptions (23 Apr 2024)

Michael McGrath: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by owners of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land within its scope. The tax...

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

Michael McGrath: ...authority, the stamp duty liability will be capped at €100 in accordance with section 106B(3) SDCA 1999. 3. Cost Rental Equity Loan (CREL) funded turnkey purchases It is my understanding that only AHBs, local authorities and the Land Development Agency (LDA) are currently engaged in the delivery of Cost Rental homes. As I have previously stated, conveyances, transfers or leases...

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

Michael McGrath: ...making a claim. Further information on the rent-a-room relief and the Rent Tax Credit and what is required to claim can be found on the Revenue website at: www.revenue.ie/en/personal-tax-credits-reliefs-and-exemption s/land-and-property/rent-credit/how-to-claim.aspx. www.revenue.ie/en/personal-tax-credits-reliefs-and-exemption s/land-and-property/rent-a-room-relief/index.aspx.

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

Michael McGrath: Prior to Finance Act 2017, agricultural land which was leased for solar panels was not classified as qualifying agricultural property for the purposes of Capital Gains Tax retirement relief or agricultural relief from Capital Acquisitions Tax. Following a review announced in Budget 2018, and in recognition of the then Government's commitment to facilitate the development of solar energy...

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...

Written Answers — Department of Finance: Tax Code (10 Apr 2024)

Michael McGrath: ...Government continued to fulfil this commitment through Budget 2024, which brought forward a record €5.1 billion budget for capital investment in housing. This includes €2.6 billion in exchequer funding, €978 million in Land Development Agency (LDA) funding, and €1.5 billion in Housing Finance Agency (HFA) funding. The Government has consistently committed to...

Written Answers — Department of Finance: Illicit Trade (9 Apr 2024)

Michael McGrath: ...two Revenue Customs Cutters to patrol the coastline, undertake vessel controls and support maritime surveillance and intelligence gathering duties in relation to drugs. These vessels work closely with teams of land-based enforcement officers involved in anti-smuggling duties deployed to cover potential high-risk areas along the coastline. Given the global nature of the illicit drugs...