Dáil Éireann Debate, Tuesday - 25 October 2016
224. Deputy Charlie McConalogue asked the Minister for Education and Skills the reason interest on loans, depreciation, etc., are treated as add backs within the student grant scheme for those who are self-employed; his plans to change this criteria given that the Revenue Commissioners do not have this specification; and if he will make a statement on the matter. [31886/16]
View answerThe assessment of means under my Department's student grant scheme is based on gross income from all sources. Therefore, all income is assessed from the same starting point, eliminating any distortion which might arise from different spending decisions.
Part 3 of the Student Grant Scheme 2016 deals with issues governing the determination of reckonable income. In calculating reckonable income, no account is taken of capital assets. Therefore, it follows that no deduction is given for depreciation, interest on borrowings which fund the asset, tax capital allowances or for any other capital expenditure.
