Tuesday, 27th October 2015
Anthony Lawlor, Fine Gael TD for Kildare North, has warmly welcomed the measure in the Finance Bill 2016 that insures Standard Life Shareholders are not liable for income tax on their monies.
“Last April it was brought to my attention that, following the sale of Standard Life, 4,000 shareholders who opted to have money paid as a capital payment, inadvertently faced an income tax liability on this fund. This is because their declaration forms arrived passed their deadline due to a 6 week postal delay.
I raised this matter immediately with Minister Noonan and also tabled a Dáil Question, highlighting the unfairness of the situation. I asked him to apply the same steps his Department took when a similar incident occurred with Vodafone Shareholders, who were not penalised.
I was delighted to see a specific provision in the Finance Bill dedicated to these Standard Life Shareholders. They will now be liable to the normal capital gains tax instead of income tax.”