Snippet data - viewing only, no editing possible


Label

Field name

Field value


Sitting_Date

10/10/2017 12:00:00 AM


Sitting_Forum


Snippet Ref No

SnippetRefNo

F00500

Selected Quill

SnippetType

1

Saved Quill

SnippetType_C4D


Selected Quill

SnippetType_1

1

Speaker Name

IndxSpeakerName

Donohoe, Paschal

Business Category

IndxMainHeadCat

Financial Resolutions 2018

Sub Category

IndxSubTopic

Budget Statement 2018

Topic

IndxQHeadTopic


See Also

SeeAlso


Part1

TitlePart1


Part2

TitlePart2


Part3

TitlePart3


Volume

VolumeNo

960

Book No

BookNo

1

Pdf Ref

PdfPageRef

12

Default Business Index

IndexViewCategoryDefault

Financial Resolutions 2018\Budget Statement 2018

3 Part Title Business Index

IndexViewCategoryTitle


Default Topic Index

IndexViewCategoryDefaultSpeaker

Budget Statement 2018

3 Part Topic Index

IndexViewCategoryTitleSpeaker


Motion Code

MotionCode


Motion Title

MotionTitle


Stage

MotionStage


Amendment No

MotionAmendmentNo


Bill Code

BillCode


Bill Title

BillTitle


Stage

BillStage


Section

BillSection


Statement Code

StatementCode


Statement Title

StatementTitle


Stage

StatementStage


Hour Indicator

HourIndicator

Not applicable

Procedural Instruction

Procedural_Instruction

No

Debate Adjourned

DebateAdjourned

No

Question Askee

QAskee


Question Asker

QAsker


Question Department

QDept


Question ID

QID


Question Reference

QRef


Question Speaker PID

QSpeakerPID


Question Speaker PID To

QSpeakerPIDTo


Questions Asked

QUESTIONSASKED


Speaker Type

SpeakerType

1

Speaker Name

Senator


Deputy


Minister


Witness


Chairman


ViceChairman


ActingChairmanD


ActingChairmanS


Speaker4Display

Speaker4Display

Deputy Paschal Donohoe

Speaker

Speaker

Deputy Paschal Donohoe

SpeakerPID

SpeakerPID

PaschalDonohoe

SpeakerText

SpeakerText

Paschal Donohoe

OriginalUnidSnippet

OriginalUnidSnippet

BA687988F7F91C50802581B5004B7F04

LastModifiedSnippet

LastModifiedSnippet

02/11/2020 03:47:13 PM

TopicIndex1stCategoryValues

TopicIndex1stCategoryValues

Snippet Contents:

Thanks, Mattie. The scheme will be introduced in 2019 in respect of VAT expenses incurred in 2018. Charities will be entitled to a proportion of VAT based on the level of non-public funding they receive. A fund of €5 million will be available to the scheme in 2019.
I am also pleased to say that work on equality and gender-proofing of the budget continues. The Government is working with partners such as the Irish Human Rights and Equality Commission to achieve the goal set out in the programme for Government relating to equality and gender-proofing of budget measures. Concrete steps include cross-departmental workshops with the commission, examination of international best practice and the development of a policy document which will be published today. This afternoon, I want to reconfirm that the Government will continue to provide leadership in this area. We will work with the commission and others active in this field to ensure that equality and gender-proofing is delivered.
Rewarding Work
We cannot protect our most vulnerable citizens and create a fairer society unless we reward work and ensure our system of taxation is also fair. A system where those earning an average wage are charged the higher rate of tax is unfair. We cannot hope to remain competitive if someone on a relatively low income who decides to work a few hours overtime has nearly half that extra money taken in tax. I am announcing to the House that the point at which an income earner attracts the higher rate of income tax will rise next year by €750 per annum. The entry point for single earners increases from €33,800 to €34,550, thus making progress towards the goal of ensuring that people on average wages do not pay income tax at the higher rate.
I am also introducing targeted changes to USC that reduce the rates but that do not narrow the base. The entry point to USC will remain at €13,000 but I am reducing the 2.5% rate to 2% and increasing the ceiling for this new rate from €18,772 to €19,372 to ensure that full-time workers on the increased national minimum wage of €9.55 per hour do not pay the upper rates of USC. I am also reducing the 5% rate to 4.75%, thereby reducing the top marginal rate of tax on income up to €70,044 to 48.75%. This is the fourth budget in which this marginal rate has been reduced.
To further help small and growing businesses around the country to address the challenges in our changing environment and to build on the progress made in the last two budgets, I am providing for a €200 increase in the earned income credit, bringing it to €1,150 per year from 2018. This increase is further recognition by this Government of over 147,000 self-employed individuals generating economic activity across the country.
Research has shown that employee financial participation can be effective in increasing competitiveness and helping companies to attract and retain staff in a competitive labour market. Therefore, I am announcing a new Key Employee Engagement Programme, KEEP, to support small and medium enterprises in their efforts not only to attract but to keep key employees in a competitive labour market by providing for an advantageous tax treatment on share options. KEEP will allow small to medium enterprises to provide key employees with a financial incentive linked to the success of the company.
Further to last year’s increase in the home carer credit and a commitment in the programme for Government, I am providing for a further increase of €100 this year, bringing the value of the credit up to €1,200 per year. This credit is of assistance to over 80,000 families where one spouse works primarily in the home to care for children or dependants. As a next step, I am establishing a working group to plan, over the coming year, the process of amalgamating USC and PRSI over the medium term. A key objective of this group and of mine as Minister for Finance in the decisions that I make is that we do not narrow our tax base but ensure that we have a personal taxation system that is both competitive and resilient in the future.
Corporation Tax Certainty
In the area of corporation tax, we have seen unprecedented change and reform in recent years. Ireland has played its full part in this. We have a stable and competitive corporate tax regime which is internationally recognised as one of the most transparent in the world.