tempobet tipobet Instagram Profiles
Michael Noonan's Finance Bill = A Disaster For Ireland! - Peoples Republic Of Cork Discussion Forums

Go Back   Peoples Republic Of Cork Discussion Forums > Current & Local Affairs Forum
User Name
Password
Reply
 
Thread Tools Display Modes
  #1  
Old 03-11-2016, 03:54 PM
Bill O'Reilly Bill O'Reilly is offline
 
Join Date: Apr 2007
Posts: 433
Thumbs down Michael Noonan's Finance Bill = A Disaster For Ireland!

Not long after Minister For Finance Michael Noonan (FG) became embroiled in a vulture fund/NAMA property sell-off scandal up north, many around the country have recently received their property/family home tax letters, and then we see this:

Stephen Donnelly, Independent TD for Wicklow and East Carlow has raised serious concerns that changes announced in this month’s Finance Bill will lead to large domestic and foreign commercial landlords operating completely tax free in Ireland.

This would lead to higher rents for families and businesses, bigger mortgages, less public money for investment in services & infrastructure and an even bigger commercial property bubble in Dublin.

It would also lead to a two-tier system in which normal Irish businesses would be paying full taxes, alongside huge foreign funds acting as landlords and paying no taxes on their profits.

Speaking today, Deputy Donnelly commented:

‘Businesses all over Dublin are coming under enormous pressure because of the spiralling costs of rent. Dublin now has the second highest commercial rents in the eurozone. In fact, in all of Europe, the only cities that now have higher rents than Dublin are London, Geneva, Paris and Zurich. And not only are rents high, they’re rising rapidly. In the last 2– 3 years alone they’ve nearly doubled.

‘One of the reasons for this is tax breaks. In the last Dáil, the government created two tax deferral mechanisms for property investors – known as REITs and ICAVs. This has led to big foreign landlords pouring money into the country, to buy up commercial and residential property.

‘We were told that these generous tax breaks were going to be shut down in the Finance Bill. Minister Noonan stated clearly that profits generated from economic activity in Ireland would be taxed properly. Not only has the Finance Bill not done this, it has instead created new tax rules that make commercial property investment in Ireland completely tax free. No other European country does this.

‘The government is choosing to make commercial property completely tax free for landlords, in the middle of an already growing property bubble. I am calling on Minister Noonan to ensure that the bill as it is currently written is not enacted, and to ensure that commercial property is taxed in line with other businesses in Ireland.’
Reply With Quote
  #2  
Old 03-11-2016, 11:38 PM
Meridian Meridian is offline
Senior PROC Member
 
Join Date: Mar 2014
Location: A better place
Posts: 8,403
Default

Quote:
Originally Posted by Bill O'Reilly View Post
Not long after Minister For Finance Michael Noonan (FG) became embroiled in a vulture fund/NAMA property sell-off scandal up north, many around the country have recently received their property/family home tax letters, and then we see this:

Stephen Donnelly, Independent TD for Wicklow and East Carlow has raised serious concerns that changes announced in this month’s Finance Bill will lead to large domestic and foreign commercial landlords operating completely tax free in Ireland.

This would lead to higher rents for families and businesses, bigger mortgages, less public money for investment in services & infrastructure and an even bigger commercial property bubble in Dublin.

It would also lead to a two-tier system in which normal Irish businesses would be paying full taxes, alongside huge foreign funds acting as landlords and paying no taxes on their profits.

Speaking today, Deputy Donnelly commented:

‘Businesses all over Dublin are coming under enormous pressure because of the spiralling costs of rent. Dublin now has the second highest commercial rents in the eurozone. In fact, in all of Europe, the only cities that now have higher rents than Dublin are London, Geneva, Paris and Zurich. And not only are rents high, they’re rising rapidly. In the last 2– 3 years alone they’ve nearly doubled.

‘One of the reasons for this is tax breaks. In the last Dáil, the government created two tax deferral mechanisms for property investors – known as REITs and ICAVs. This has led to big foreign landlords pouring money into the country, to buy up commercial and residential property.

‘We were told that these generous tax breaks were going to be shut down in the Finance Bill. Minister Noonan stated clearly that profits generated from economic activity in Ireland would be taxed properly. Not only has the Finance Bill not done this, it has instead created new tax rules that make commercial property investment in Ireland completely tax free. No other European country does this.

‘The government is choosing to make commercial property completely tax free for landlords, in the middle of an already growing property bubble. I am calling on Minister Noonan to ensure that the bill as it is currently written is not enacted, and to ensure that commercial property is taxed in line with other businesses in Ireland.’
Thanks your post Stephen Donnelly
Reply With Quote
  #3  
Old 04-08-2018, 07:11 PM
blackie blackie is offline
 
Join Date: Oct 2005
Posts: 13,527
Default

Vultures accomodated by FG , who'd have thought.
__________________
I will in my hoop
Reply With Quote
  #4  
Old 04-08-2018, 07:31 PM
SunshineSupporter SunshineSupporter is offline
Banned
Senior PROC Member
 
Join Date: Aug 2018
Posts: 2,824
Default

Reply With Quote
  #5  
Old 04-08-2018, 08:26 PM
corcaigh corcaigh is offline
 
Join Date: Dec 2011
Location: Cork Boi!!
Posts: 580
Default

Michael Noonans policy's with the promissory note deal inflicting generational erroneous debt on the Irish people and inviting vulture funds tax free into Ireland to run riot and has begun to and will continue to decimate Irish society.

The man is a treasonous f*cking scumbag and in times not long ago he would have been sh*t dead by now.

Last edited by corcaigh; 04-08-2018 at 08:39 PM..
Reply With Quote
  #6  
Old 07-08-2018, 02:51 PM
SoundMan SoundMan is offline
Senior PROC Member
 
Join Date: Jun 2011
Posts: 20,672
Default

To be fair I think he was extremely unwell towards the end of his life as a minister. Though, that said, he did oversee some desperate f**kups as a minister
Reply With Quote
  #7  
Old 12-12-2018, 03:46 PM
Bill O'Reilly Bill O'Reilly is offline
 
Join Date: Apr 2007
Posts: 433
Default

https://www.thetimes.co.uk/article/m...reak-g2rwkf82k

Multinationals given €64bn tax break


Companies claimed relief worth more than €64 billion in just two years after the government extended a tax break for multinationals.

Michael Noonan, a former finance minister, raised the level of capital allowances on intellectual property (IP) assets from 80 per cent to 100 per cent in 2014. The move allowed companies to shield all their profits from corporation tax using capital allowances — tax savings given for buying assets.

The Times revealed in June that the decision was taken despite concerns being raised by a government official. Seamus Coffey, chairman of the Irish Fiscal Advisory Council, also estimated that the state was missing out on up to €850 million of revenue each year as a result of the move.
Reply With Quote
  #8  
Old 15-05-2019, 11:29 AM
The Bandit The Bandit is offline
PROC Member
 
Join Date: Sep 2015
Posts: 499
Default

Haven't seen or heard Michael Noonan in Dail or in the Media. Has he vanished?
Reply With Quote
  #9  
Old 15-05-2019, 11:46 PM
TheEarlofPearl TheEarlofPearl is offline
Banned
 
Join Date: Dec 2015
Posts: 12,810
Default

Quote:
Originally Posted by The Bandit View Post
Haven't seen or heard Michael Noonan in Dail or in the Media. Has he vanished?
No
Reply With Quote
  #10  
Old 23-05-2019, 08:51 AM
greengrass greengrass is offline
 
Join Date: Jan 2012
Posts: 7,109
Default

Quote:
Originally Posted by The Bandit View Post
Haven't seen or heard Michael Noonan in Dail or in the Media. Has he vanished?
Not well
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump




The Beatlebums

Charlie's, Today @ 10:30pm

More events ▼






tester
All times are GMT. The time now is 10:32 PM.


Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
All forum comments are the sole responsibility and property of forum users. PeoplesRepublicOfCork.com and its sponsors disclaim all liability for content posted by users of the forum. PeoplesRepublicOfCork.com and its sponsors do not necessarily share the views expressed in this forum. Use the report post system to have comments considered for edit or deletion. All users are IP logged. Website hosted by Hostrocket USA.