Robert Dowds (Dublin Mid West, Labour)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance if he will provide a list of all of the tax relief schemes available to taxpayers here. [39393/12]

Robert Dowds (Dublin Mid West, Labour)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance if he will provide a list of all of the tax relief schemes which have been closed by his Department since 2008. [39394/12]

Robert Dowds (Dublin Mid West, Labour)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance if there is scope to remove remaining tax relief schemes; and the amount of money the State may recover if it closed all of the remaining tax relief schemes available to taxpayers here. [39395/12]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I propose to take Questions Nos. 55 to 57, inclusive, together.

As regards tax reliefs currently available, a comprehensive summary of these was provided yesterday in my reply to PQ 38291/12 and a copy of this reply is provided for the Deputy’s information. That reply contains details, as advised to me by the Revenue Commissioners, of the total identifiable costs to the Exchequer relating to income tax and corporation tax allowances, reliefs, exemptions and tax credits available. The information relates to 2008 and 2009, the most recent year for which the necessary detailed information is available.

The following tax reliefs have been terminated since 2008:

- Approved Share Options Schemes

- BIK (Benefit-in-kind) exemption on certain professional subscriptions

- BIK exemption on employer-provided art objects in a heritage building or garden

- BIK exemption for employer provided childcare

- Capital allowances in respect of capital expenditure incurred on registered nursing homes, convalescent homes, qualifying hospitals and mental health centres (subject to transitional arrangements for pipeline projects)

- Capital allowances for expenditure on the construction, conversion or refurbishment of buildings used for childcare purposes

- Capital allowances for the construction or refurbishment of residential units associated with registered nursing homes

- Consanguinity relief for residential property

- Enterprise Areas

- Exemption from income tax and associated marginal relief (Section 187)

- Exemption that applies to the first 6 weeks of Illness Benefit and Occupational Injury Benefit per annum (Section 126)

- Farm consolidation relief (expired)

- First time buyer’s relief

- Holiday Cottages

- Living over the Shop

- Loans to acquire an interest in certain companies (phased abolition)

- Low value properties (residential property below €127k and non-residential property below €10k)

- Multi-storey car parks

- Park & Ride

- Patent royalty exemption

- Premiums under qualifying long term care policies (Section 470A)

- Purchase of new houses

- Purchase of new shares by an employee

- Service charges

- Student Accommodation

- Trade Union Subscriptions

- Rent relief (phased abolition)

- Rural Renewal

- Site to child relief

- Town Renewal

- Urban Renewal

In respect of the remaining reliefs, I would again refer the Deputy to my earlier answer as this contains the identifiable costs to the Exchequer of such reliefs. I would further note that, as with all measures of this nature, reliefs will be reviewed as part of the annual Budget and Finance Bill cycle. However, the Deputy will also be aware that it is not the practice of the Minister for Finance to discuss the precise or specific details of measures which may be under consideration as part of a future Budget and Finance Bill package.

Séamus Kirk (Louth, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance if, in view of the expected expansion of the dairy industry in Ireland post 2015, he will consider modifying the capital allowance period for farm buildings from seven years to three years; and if he will make a statement on the matter. [39519/12]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

Persons chargeable to tax on their farming profits may claim a farm buildings allowance for capital expenditure on the construction of farm buildings (other than buildings used as a dwelling) and certain other works. The cost is written off at the rate of 15% of the cost in each of the first 6 years with the remaining 10% in year 7. This compares favourably with other allowances for example, for industrial buildings and I have no plans to amend the capital allowance period for farm buildings at this time.