Dáil Éireann Debate, Wednesday - 14 January 2015
179. Deputy Catherine Murphy asked the Minister for Finance if he will provide details of all transfers which have taken place from the local government fund to the Central Fund in 2014 by date and amount concerned; all transfers which took place in the reverse by date and amount; and if he will make a statement on the matter. [1750/15]
View answerSection 157 of the Finance (Local Property Tax) Act 2012, as amended, provides that, in each financial year commencing with 2014, the Minister shall pay from the Central Fund or the growing produce thereof into the Local Government Fund an amount equivalent to the Local Property Tax (LPT), including any interest paid thereon, paid into the Central Fund during that year.
During 2014, the Exchequer received €491,351,000 in tax receipts in respect of LPT. By year end €483,580,000 was transferred from the Exchequer to the Local Government Fund, as detailed in the table below. The balance of €7,771,000, which relates to LPT receipts from 30 and 31 December 2014, will be transferred from the Exchequer to the Local Government Fund during January 2015.
|
Transfers to the Local Government Fund from the Exchequer during 2014 |
|
|
30th July |
€309,970,000 |
|
8th December |
€138,637,000 |
|
23rd December |
€26,733,000 |
|
31st December |
€8,240,000 |
|
Total |
€483,580,000 |
Regarding specific transfers from the Local Government Fund to the Exchequer during 2014, the Local Government Act 1998, as amended by the Local Government Reform Act 2014, provided for a transfer of up to €600 million from the Local Government Fund to the Exchequer upon a request from the Minister for Finance made before the end of 2014.
€520 million was requested by the Minister for Finance to be transferred to the Exchequer on 24 December 2014. The €520 million amount includes receipts from motor tax measures introduced in Budgets 2012 and 2013 to assist with deficit reduction.
