Finian McGrath
Ceist:181 Mr. F. McGrath asked the Minister for Finance if he will review the incapacitated child allowance prior to budget 2005 and double the tax credit; and if he will make a statement on the matter. [27817/04]
Amharc ar fhreagraTuesday, 9 November 2004
Ceisteanna (124, 125)
Freagraí scríofa
It has been the practice of successive Ministers for Finance not to comment on what may or may not be contained in upcoming budgets and I do not intend to depart from that approach.
Martin Ferris
Ceist:182 Mr. Ferris asked the Minister for Finance the range of tax breaks and relief available to smaller operators in the tourism sector. [27840/04]
Amharc ar fhreagraI am advised by the Revenue Commissioners that there are no specific tax breaks or reliefs for smaller operators in the tourism sector. The general position is that expenses incurred wholly and exclusively for the purposes of a trade are deductible in arriving at taxable profits. Tax relief is available in the form of capital allowances for capital expenditure incurred on certain buildings, such as hotels, holiday cottages and holiday camps. Relief is also available for capital expenditure on plant and machinery used for the purposes of a trade. In addition, tax relief for certain tourist facilities is available under certain of the property-based incentive schemes and the business expansion and seed capital schemes.
Full details on the rural renewal, urban renewal and town renewal schemes, business expansion scheme, seed capital scheme and the relief for significant buildings are available from the Revenue Commissioners website at www.revenue.ie in the “Leaflets and Guides” section.