Tony McLoughlin (Sligo-North Leitrim, Fine Gael)
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118. To ask the Minister for Finance the position regarding the eligibility of a fodder unit for special treatment under capital allowances tax; and if he will make a statement on the matter. [16457/15]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that there is no special regime of capital allowances for fodder units. An annual allowance (known as a 'wear and tear allowance') is available for capital expenditure incurred on the provision of plant and machinery for the purposes of a trade. Therefore, capital expenditure incurred on the provision of a fodder unit for the purposes of a trade would qualify for wear and tear allowances at a rate of 12.5 per cent per annum over 8 years.

Dara Calleary (Mayo, Fianna Fail)
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119. To ask the Minister for Finance his views that a €30 stamp duty charge on the cancellation of debit and credit cards is excessive; his plans to abolish the charge; and if he will make a statement on the matter. [16549/15]

Michael Noonan (Limerick City, Fine Gael)
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Credit Cards

The stamp duty payable is €30 per year per credit card account. Where a credit card is held for any part of a year, the charge is still €30.

Stamp duty of €30 is chargeable in respect of each credit card account, maintained by a financial institution at any time during the twelve month period ending on 1 April, referred to as the year of charge. Stamp duty is charged to the account on 1 April, in arrears, unless the account is closed during the year.

If the account is closed during a year and the card is cancelled this will result in the €30 charge to stamp duty being incurred as the charge is in respect of an account that has been maintained during part of the year of charge.  The charge is not a cancellation charge; the charge simply falls due on cancellation - rather than on the following 1 April where the account is held for a full year

Moving to a new Financial Institution

If the account holder is moving his or her account to a new financial institution he or she will not have to pay the stamp duty twice as a letter of closure will be provided by the first financial institution on payment of the stamp duty. This letter should be presented to the second financial institution and the new account with that second financial institution will not be charged stamp duty on the following 1 April.

Stamp Duty on ATM/Debit/Combined Cards 

How much is the duty?

€2.50 per year per ATM card (also known as cash card)

€2.50 per year per debit (Laser) card

€5 per combined (ATM & debit) card

When is the stamp duty collected from the account holder?

Stamp duty is collected in arrears for the year of charge which coincides with the calendar year. For example, the stamp duty arising in the calendar year 2015 will be charged to the account on 31 December 2015.  Stamp duty will only be charged if the card is valid on 31 December of the year of charge.  Normally a charge to stamp duty does not arise on cancellation of an ATM/debit/combined card. 

While all tax policies are continually open to review, it is not appropriate for the Minister for Finance to comment in advance on issues that are appropriate for consideration in the context of the Budget.