Were the grants referred to in this section meant to be excluded from a computation as a result of some changes made last year or the year before, which were left out?
SECTION 43.
Question proposed: "That section 43 stand part of the Bill".
It is to avoid the nonsense of giving somebody a grant and then taxing it.
But last year's Bill excluded all of those grants. It must have been forgotten that grants regarding employment and Údarás na Gaeltachta were not included in that section.
We are extending it to large and medium sized companies this year, last year it was confined to smaller companies.
What was extended last year?
The exemptions last year on employment grants were confined to small companies; the intention in this section is to extend it to all companies.
Is the situation now that employment grants are not to be taken into the computation for tax purposes?
Yes.
What type of employment grants?
Údarás na Gaeltachta, the IDA and SFADCo.
An IDA grant package includes fixed assets, grant aid, employment grants which may be paid over a number of years, depending on the progress made. Are they exempt?
Yes.
I welcome that because it is nonsense to send money around in circles.
Question put and agreed to.