Joe O'Toole (Independent)

I recognise that the Minister of State has given us several dates. I trust he will correct me if my understanding of the matter is wrong. However, I understood that last year or the year before we changed the date of the return of capital acquisitions tax to a date in October as a tidying up operation and to ensure the two dates coincided. The argument from the Department at the time was that both dates should be the same in everyone's interests. This is on what I wish to focus and I support the points made by Senator Regan. I believe we should delete this section. The Government then decided that it would get back the self-employed tax one month earlier in September in order that money would come in earlier. It took the view, following from the logic of the previous year, that since it was bringing back the self-employed deadline by one month it would also bring back the date of return for capital acquisitions tax. Consequently, the Finance Bill as published had the new date in September for capital acquisitions tax and self-employed returns. That was fine and everyone was aware of it although some people expressed reservations. Chartered Accountants Ireland stated this would create a great deal of pressure on everyone to get returns in on time and resisted the measures. I am unsure how strongly it resisted the changes but it expressed concerns and called for the changes to be reconsidered. In the meantime, two men, Independents, in the back row of the Dáil took a similar view. They indicated to the Government that they would not be in a position to support the Finance Bill for several reasons, one of which was the earlier date for taxation returns. Having listened to them and everyone else, or perhaps for no reason, the Government decided not to change the date for the self-employed returns and amended the Bill accordingly. However, the Government forgot to do the same in the case of capital acquisitions tax. We are left with the same anomaly, an inverse anomaly to that which arose last year. Last year there was a difference of one month and now there is a difference of one month.

We do not propose to change the wording but to take out section 70 which would ensure that both dates are the same. People should come out with their hands up, admit they made a mistake and got it wrong and correct it now. The sensible thing would be to delete section 70. I believe Senator Mary White would agree with me. There is enough pressure on self-employed people and small businesses. The deadline one month earlier would have been a disaster for them. Moving the date for capital acquisitions tax now flies in the face of the logic given to us last year, which was to have both returns in the same month and on the same day. I oppose section 70 and I urge the Minister of State to accept that it should be deleted. I support the proposition of Senator Regan.