Menu
10/02/2012
Changes To Mortgage Interest Relief Will Help Alleviate Pressure
Fine Gael Dun Laoghaire / Rathdown Deputy, Mary Mitchell O'Connor, today said the provisions contained in the Finance Bill 2012, on changes to the Universal Social Charge and mortgage interest relief, are aimed at alleviating the pressure on those most in need and rebalancing the scales in favour of fairness.
She said: "The publication of the Finance Bill 2012, gives effect to the targeted measures announced in this year’s Budget. Contained within the Bill is a provision to increase mortgage interest relief to 30% for first-time buyers who purchased their homes between 2004 and 2008.
"This measure will have a significant impact on many families and young people in Dun Laoghaire / Rathdown, who bought during the peak and are now mired in negativity equity. This was a pre-election promise made by Fine Gael, which formed part of the Programme for Government that the naysayers said couldn’t be done. Fine Gael has long recognised the plight of the negative equity generation and I am delighted that the Minister for Finance has been able to deliver on this commitment, despite the difficult economic situation.
"Changes to the Universal Social Charge, the exemption threshold for which has been increased from €4,004 to €10,036, will remove 330,000 people from the tax net and put much needed money back in their pockets."
She said the mistakes of the past can never be allowed to happen again.
"The Government is working hard to clean up the mess created by Fianna Fáil over the last decade. The Personal Insolvency Bill, the heads of which have recently been published, together with the targeted and effective measures contained in the Finance Bill, will help to alleviate the pressure on those in negative equity and lower paid workers in Dun Laoghaire / Rathdown while offering a stimulus to those hoping to own their own home.
(CD/GK)
She said: "The publication of the Finance Bill 2012, gives effect to the targeted measures announced in this year’s Budget. Contained within the Bill is a provision to increase mortgage interest relief to 30% for first-time buyers who purchased their homes between 2004 and 2008.
"This measure will have a significant impact on many families and young people in Dun Laoghaire / Rathdown, who bought during the peak and are now mired in negativity equity. This was a pre-election promise made by Fine Gael, which formed part of the Programme for Government that the naysayers said couldn’t be done. Fine Gael has long recognised the plight of the negative equity generation and I am delighted that the Minister for Finance has been able to deliver on this commitment, despite the difficult economic situation.
"Changes to the Universal Social Charge, the exemption threshold for which has been increased from €4,004 to €10,036, will remove 330,000 people from the tax net and put much needed money back in their pockets."
She said the mistakes of the past can never be allowed to happen again.
"The Government is working hard to clean up the mess created by Fianna Fáil over the last decade. The Personal Insolvency Bill, the heads of which have recently been published, together with the targeted and effective measures contained in the Finance Bill, will help to alleviate the pressure on those in negative equity and lower paid workers in Dun Laoghaire / Rathdown while offering a stimulus to those hoping to own their own home.
(CD/GK)
Related Irish News Stories
Click here for the latest headlines.
31 July 2008
Dublin Council Talking Trash
Councillors are threatening to take up to 7,000 homeowners in Dublin's southside suburbs to court over unpaid refuse charges. Residents of Dublin's southside suburbs face almost €26m worth of penalties since their introduction eight years ago.
Dublin Council Talking Trash
Councillors are threatening to take up to 7,000 homeowners in Dublin's southside suburbs to court over unpaid refuse charges. Residents of Dublin's southside suburbs face almost €26m worth of penalties since their introduction eight years ago.
23 October 2015
Finance Bill Gives Effect To Budget 2016 Taxation Measures
Minister for Finance, Michael Noonan, has published the Finance Bill 2015, which gives effect to taxation measures announced in the Budget 2016. "Finance Bill 2015, gives legal effect to the range of tax measures that I announced on Budget Day.
Finance Bill Gives Effect To Budget 2016 Taxation Measures
Minister for Finance, Michael Noonan, has published the Finance Bill 2015, which gives effect to taxation measures announced in the Budget 2016. "Finance Bill 2015, gives legal effect to the range of tax measures that I announced on Budget Day.
25 March 2015
Dún Laoghaire Rathdown Council Hears Public Baths Redevelopment Plan
Details of a proposed redevelopment of Dún Laoghaire’s public baths have been revealed in a presentation to the Dún Laoghaire Rathdown County Council Constructed in 1843, the baths were completely redeveloped by then Kingstown Town Council in 1910 and operated until 1997 when they were closed.
Dún Laoghaire Rathdown Council Hears Public Baths Redevelopment Plan
Details of a proposed redevelopment of Dún Laoghaire’s public baths have been revealed in a presentation to the Dún Laoghaire Rathdown County Council Constructed in 1843, the baths were completely redeveloped by then Kingstown Town Council in 1910 and operated until 1997 when they were closed.
11 May 2016
Man Charged Over Dublin Assault
A man has been charged in connection with an assault on three males in Dublin. The attack happened at Broadford Road in Ballinteer on Thursday, 05 May. The three victims, aged 20, 18 and early teens were cycling on Broadford Road when they were assaulted by four other males who were travelling in a car described as a blue coloured Peugeot.
Man Charged Over Dublin Assault
A man has been charged in connection with an assault on three males in Dublin. The attack happened at Broadford Road in Ballinteer on Thursday, 05 May. The three victims, aged 20, 18 and early teens were cycling on Broadford Road when they were assaulted by four other males who were travelling in a car described as a blue coloured Peugeot.
04 February 2016
Dun Laoghaire RNLI Rescue Six Fishermen
Six fishermen have been rescued by the RNLI in Dun Laoghaire after the trawler they were in disabled off the coast of Dublin following challenging weather conditions. The volunteer lifeboat crew was requested to launch their all-weather lifeboat at 2.
Dun Laoghaire RNLI Rescue Six Fishermen
Six fishermen have been rescued by the RNLI in Dun Laoghaire after the trawler they were in disabled off the coast of Dublin following challenging weather conditions. The volunteer lifeboat crew was requested to launch their all-weather lifeboat at 2.
-
Ireland WeatherToday:Showers today, occasional north and west of Lough Neagh, but only a few isolated light outbreaks expected for Belfast and county Down where the best of the winter sunshine is expected. West to northwest winds brisk around the coasts. Maximum temperature 10 °C.Tonight:Showers focused across northern areas of the Province, with most in the south staying dry, with a frost developing for many here. Northwest winds fresh around the coasts. Minimum temperature 0 °C.
