Results 141-160 of 14,686 for in 'Written Answers' speaker:Michael McGrath

Written Answers — Department of Finance: Departmental Funding (20 Mar 2024)

Michael McGrath: I wish to inform the Deputy that my Department does not fund any NGOs.

Written Answers — Department of Finance: Departmental Meetings (20 Mar 2024)

Michael McGrath: While I or my Department have not engaged directly with the National Women’s Council of Ireland (NWCI) during the specified timeframe, the NWCI is a participant in the National Economic Dialogue, which is annually hosted jointly by my Department and the Department of Public Expenditure, NDP Delivery and Reform. In relation to the bodies under the aegis of my Department, the Central...

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

Michael McGrath: I note that the Deputy has referred to committed couples. For the purpose of this reply it is assumed he is referring to cohabiting couples. Where a couple is cohabiting, rather than married or in a civil partnership, they are treated as separate and unconnected individuals for the purposes of income tax. Each partner is a separate entity for tax purposes, therefore, cohabiting couples...

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

Michael McGrath: I am answering this question in reference to the temporary changes to vehicle BIK provided in sections 7 and 8 in Finance Act (No. 2) 2023. The Government remains committed to the environmental rationale behind the current emissions-based vehicle benefit-in-kind (BIK) regime, which has been in operation since 1 January 2023. Since this date, the amount taxable as BIK continues to be...

Written Answers — Department of Finance: State Bodies (20 Mar 2024)

Michael McGrath: As the Deputy is aware, National Asset Residential Property Services (NARPS) was created by NAMA to acquire housing units for onward long term lease to Approved Housing Bodies and Local Authorities. Following a review of NAMA in 2019, as required under Section 227 of the NAMA Act, NAMA was directed by my predecessor to retain NARPS and its portfolio of 1,366 residential properties in...

Written Answers — Department of Finance: Departmental Data (20 Mar 2024)

Michael McGrath: I am advised by Revenue that the total number of individuals who paid the domicile levy for the years 2010 to 2022 are set out in the table below. Domicile Levy returns for 2023 are not due to be filed until 31 October 2024 so there are no figures available for that year. Domicile Levy Year No. of Individuals 2010 34 2011 ...

Written Answers — Department of Finance: Departmental Data (20 Mar 2024)

Michael McGrath: I am advised by Revenue that the number of Form 11 income tax returns on which the taxpayer has indicated that they are non-domiciled is set out in the following table. The data is on a taxpayer unit basis, where jointly assessed couples are counted as one unit, and the taxpayer unit is counted where either party to the joint assessment has indicated that they are non-domiciled. ...

Written Answers — Department of Finance: Tax Yield (20 Mar 2024)

Michael McGrath: An individual who is resident or ordinarily resident, but not domiciled in the State, is subject to the “remittance” basis of tax on foreign income and gains. Under the remittance basis, such individuals pay tax on: (1) Income and gains arising in Ireland, (2) Foreign income which they “remit” or bring into the State, and (3) Foreign gains where they...

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

Michael McGrath: As the Deputy will be aware, the age exemption applies for any year of assessment where an individual is aged 65 years or over and his or her total income does not exceed €18,000 per annum. Where an individual is a married person or civil partner and is jointly assessed to tax, the age exemption will apply where either individual is aged 65 or over and where the couple’s total...

Written Answers — Department of Finance: Tax Credits (20 Mar 2024)

Michael McGrath: The position is that a range of tax credits are provided for in Part 15 of the Taxes Consolidation Act 1997 (TCA). Broadly, tax credits may be used to reduce the amount of income tax payable by an individual in a year of assessment, but only to the extent that they reduce the liability for that year to nil. Eligibility for the range of tax credits is based on varying criteria applicable...

Written Answers — Department of Finance: Primary Medical Certificates (20 Mar 2024)

Michael McGrath: The Disabled Drivers and Disabled Passengers Scheme provides relief from VRT and VAT on an adapted cars, as well as an exemption from motor tax and an annual fuel grant. To qualify for the Scheme an applicant must be in possession of a Primary Medical Certificate (PMC). The PMC is issued by the relevant Senior Medical Officer in the HSE, or failing that an appeal may be made to the...

Written Answers — Department of Finance: Revenue Commissioners (20 Mar 2024)

Michael McGrath: This Government has been consistent in its strong support for ensuring that Revenue has the necessary resources to fulfil its mandate in respect of functions that are critical for its effective functioning as a tax and customs administration. Revenue’s Maritime Unit currently has two Cutters (patrol vessels) in active service, with one of those vessels approaching the end of its...

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

Michael McGrath: I propose to take Questions Nos. 269, 270 and 278 together. Rent-a-room relief is provided for in section 216A Taxes Consolidation Act 1997 (TCA). The section provides that, where an individual rents a room or rooms in his or her home as residential accommodation, he or she is treated, for income tax purposes, as not having any income from the letting where the gross rent received (including...

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

Michael McGrath: I am advised by Revenue that tax credits and rate bands of the person concerned were allocated to her income from her pension provider. No credits or rate bands were allocated to the employment, which commenced in January 2024, resulting in an over deduction of Income Tax and Universal Social Charge (USC). Revenue has confirmed that the person’s tax credits, and rate bands are now...

Written Answers — Department of Finance: Tax Reliefs (20 Mar 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: Housing Schemes (20 Mar 2024)

Michael McGrath: The Help to Buy (HTB) scheme is administered by Revenue to assist first-time buyers with buying or building a new house or apartment. The scheme gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to qualifying criteria as outlined in legislation. Section 477C of the Taxes Consolidation Act 1997 outlines the...

Written Answers — Department of Finance: Departmental Data (20 Mar 2024)

Michael McGrath: The Department of Finance and the Revenue Commissioners are continually monitoring the potential economic impact of the OECD agreement as those negotiations continue and as the agreement continues to be implemented globally. As you will be aware an initial estimate of the potential cost of implementation of both pillars of the OECD agreement in terms of reduced tax receipts was published...

Written Answers — Department of Finance: Revenue Commissioners (20 Mar 2024)

Michael McGrath: The Finance Act 2022 provided for two tax relief measures targeted at supporting the horticultural and mushroom cultivation sectors: enhancement of an existing Mineral Oil Tax (MOT) relief for certain heavy oils and liquified petroleum gas used for qualifying purposes, and the introduction of a new relief from Natural Gas Carbon Tax (NGCT) when used for similar purposes. The legislation...

Written Answers — Department of Finance: Public Private Partnerships (20 Mar 2024)

Michael McGrath: My Department does not have any planned Public Private Partnership (PPP) projects or ongoing PPP contracts. The National Treasury Management Agency (NTMA) is a body under the aegis of my Department. My Department has not sponsored any PPP projects. However, the NTMA acting as the National Development Finance Agency (NDFA), procures and delivers PPP projects where requested by State...

Written Answers — Department of Finance: Tax Data (7 Mar 2024)

Michael McGrath: I propose to take Questions Nos. 200 and 201 together. The Vacant Homes Tax (VHT) as announced in Budget 2023, aims to increase the supply of homes for rent or purchase to meet demand. Legislative provision for the tax was made in the Finance Act 2022. A residential property will be within the scope of VHT, if it has been occupied as a dwelling for less than 30 days in a chargeable period. ...