Results 20,381-20,400 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Bank Branch Closures (18 Sep 2012)

Michael Noonan: As you will be aware, operational decisions for the covered banks – AIB, Bank of Ireland, IBRC and Permanent TSB - remain the responsibility of the boards and managements of the institutions. Notwithstanding the fact that the State is a significant shareholder in these institutions, I must ensure that the banks are run on a commercial, cost effective and independent basis to ensure the...

Written Answers — Department of Finance: Personal Debt (18 Sep 2012)

Michael Noonan: The Equity Release Loan in question was available from February 2001 to November 2010. It provided long term equity release for people over the age of 65. It was a way of unlocking part of the value of your property, without having to move home. The amount a customer could borrow depended primarily on their age and the value of the property in question. No repayments are required on the loan...

Written Answers — Department of Finance: Pension Provisions (18 Sep 2012)

Michael Noonan: The individual to whom the question refers has written to my Office on a number of occasions in recent months outlining his concerns about the pension fund levy and other matters. My Office has responded directly to the individual on all of the issues raised.

Written Answers — Department of Finance: Labour Court Recommendations (18 Sep 2012)

Michael Noonan: No Labour Court recommendations have issued in respect of my Department.

Written Answers — Department of Finance: Departmental Staff Recruitment (18 Sep 2012)

Michael Noonan: In 2011, the Department of Finance exceeded the statutory minimum target of 3% with regard to the employment of persons with a disability. Currently, 3.9% of staff in the Department of Finance has a disability.

Written Answers — Department of Finance: Tax Yield (18 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 241 and 316 together. It is assumed that the threshold for the proposed new tax rate mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by...

Written Answers — Department of Finance: Fuel Prices (18 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 243 and 320 together. Ireland, as with other countries, has experienced an increase in fuel prices. This increase is an international phenomenon. Fuel prices are driven by a number of factors including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices over recent periods reflected...

Written Answers — Department of Finance: VAT Rates (18 Sep 2012)

Michael Noonan: I am informed by the Revenue Commissioners that based on the information on the named company’s website the service it supplies is guided tours visiting food establishments such as bread shops, food halls, street markets, cheesemongers, fishmongers, butchers, bakers and similar establishments. It would appear that participants avail of free samples of food at these establishments and...

Written Answers — Department of Finance: VAT Rates (18 Sep 2012)

Michael Noonan: The Finance (No. 2) Act 2011 provided for a second reduced VAT rate, of 9%, on a temporary basis in respect of certain tourism-related services and goods for the period 1 July 2011 to 31 December 2013. I have no plans to extend the 9% rate to include additional areas or industries.

Written Answers — Department of Finance: VAT Rates (18 Sep 2012)

Michael Noonan: I would point out that a low reduced VAT rate already applies to membership fees for gyms and swimming pools. While 75% of the goods and services liable to VAT in Ireland are subject to either the standard VAT rate of 23% or the 13.5% reduced rate, the VAT rate that applies to the supply of facilities for taking part in sporting activities is 9%. I have no plans to reduce further the VAT...

Written Answers — Department of Finance: Social Insurance Rates (18 Sep 2012)

Michael Noonan: The position is as I stated in my Budget day 2012 speech, that I intend to broaden the base for PRSI to cover rental, investment and other forms of income from 2013. I can assure the Deputy, that I am trying to take a balanced approach and the full details will be presented in Budget 2013.

Written Answers — Department of Finance: Tax Reliefs Availability (18 Sep 2012)

Michael Noonan: The most recent year for which final information is available on the cost to the Exchequer, and the number of taxpayers availing, of the tax relief for third level educational fees is for the income tax year 2010. The relevant figures are shown as follows: Year Estimated Numbers Availing Estimated Cost to Exchequer €M 2010 31,700 19.4 The numbers availing represent income earners...

Written Answers — Department of Finance: Mortgage Interest Relief Extension (18 Sep 2012)

Michael Noonan: The position is as I stated in my Budget day speech, that mortgage interest relief will no longer be available to house purchasers who purchase after the end of 2012 and will be fully abolished from 2018.

Written Answers — Department of Finance: Tax Reliefs Application (18 Sep 2012)

Michael Noonan: I am advised by the Revenue Commissioners that Section 81AA of the Stamp Duties Consolidation Act 1999 provides an exemption from Stamp Duty on the transfer of agricultural land to a farmer who is: a) Under 35 years of age and b) The holder of certain educational qualifications. In addition the farmer must spend not less than 50% of his or her normal working time farming the land and...

Written Answers — Department of Finance: Retail Sector (18 Sep 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the number of notice of attachments issued by Revenue in respect of the bank accounts of businesses is set out in column 6 of the table below. Attachment notices can also be served on parties other than financial institutions and in certain circumstances are served on ‘debtors to’ or ‘employer(s) of’ the taxpayer. For...

Written Answers — Department of Finance: Credit Review Office Remit (18 Sep 2012)

Michael Noonan: As the Deputy is aware, the Credit Review Office (CRO) reviews decisions by the banks participating in NAMA to refuse, reduce or withdraw credit facilities (including applications for restructured credit facilities) from €1,000 up to €500,000. PTSB are not participating in NAMA. The Action Plan for Jobs 2012 contains a commitment to “assess the Credit Review Office to...

Written Answers — Department of Finance: Bank Guarantee Scheme (18 Sep 2012)

Michael Noonan: The covered institutions have supplied me with the following information: Institute Secured Senior Bonds at 30 Sept 2010 €bn Unsecured Senior Guaranteed Bonds at 30 Sept 2010 €bn Unsecured Senior Unguaranteed Bonds at 30 Sept 2010 €bn AIB(1) 2.8 6.2 6.4 EBS 2.0 1.0 1.0 IBRC (2) 0.2 2.4 4.7 PTSB 3.1 4.5 2.9 BOI 12.7 8.3 5.1 (1) Does not...

Written Answers — Department of Finance: Tax Reliefs Availability (18 Sep 2012)

Michael Noonan: The position is that Section 469 of the Taxes Consolidation Act 1997 provides the legislative basis for the granting of relief for qualifying health expenses incurred in respect of the provision of health care. The qualifying criteria in relation to the granting of relief are the same irrespective of whether an individual is self-employed or paying tax under the PAYE system. A self-employed...

Written Answers — Department of Finance: Tax Yield (18 Sep 2012)

Michael Noonan: It is assumed that the threshold for the proposed new tax rate mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2013 incomes, of the introduction of a new 48% rate...

Written Answers — Department of Finance: Tax Yield (18 Sep 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield to the Exchequer, estimated in terms of expected 2013 gains, from increasing the CGT tax rate from 30% to 40% could be in the region of €160 million. This figure includes corporate gains. However, this estimate assumes no behavioural changes on the part of taxpayers, and large increases in rates such as are...