Results 22,121-22,140 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Yield: Tax Yield (28 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 146 and 147 together. As I announced in the Budget, a single Stamp Duty rate of 2 per cent will apply to non-residential property transactions executed on or after Budget night 6 December 2011. I also announced a Capital Gains Tax (CGT) incentive for property purchased between 7 December 2011 and end 2013. Where such property is held for seven years, the...

Written Answers — Tax Collection: Tax Collection (28 Feb 2012)

Michael Noonan: Unfortunately, it was not possible to provide the information required for this answer in the time allowed. The Revenue Commissioners will provide the answer directly to the Deputy as soon as possible.

Written Answers — Pension Provisions: Pension Provisions (28 Feb 2012)

Michael Noonan: As part of the move to the greater use of shared services in the public sector in order to drive efficiencies, the Paymaster General's Office, which is part of my Department, took over the payment, on an agency basis, of pensions of the retired staff of the Vocational Education Committees. Payment of these pensions was previously made through the Local Authorities. The Paymaster General's...

Written Answers — Tax Code: Tax Code (28 Feb 2012)

Michael Noonan: The position is as I stated in my Budget day speech, that the Government has now fulfilled its commitment contained in the Programme for Government to increase the rate of mortgage interest relief to 30 per cent for first-time buyers who took out their first mortgage in the period 2004 to 2008. I have sought to be as flexible as possible within the constraints pertaining. Under the current...

Written Answers — Tax Yield: Tax Yield (28 Feb 2012)

Michael Noonan: The following are the current arrangements which apply in relation to the taxation of retirement lump sums paid under Revenue approved pension arrangements. These arrangements apply in both the public and private sectors and were introduced in Budget and Finance Act 2011: · Retirement lump sum amounts up to €200,000 are paid free of tax. They are also paid free of the Universal Social...

Written Answers — Ministerial Transport: Ministerial Transport (28 Feb 2012)

Michael Noonan: The Deputy may be aware that since 1 May 2011 all Cabinet Minister with the exception of Taoiseach, Tánaiste and Minister for Justice & Law Reform now use their own cars on official business. The following table lists the kilometre claims made by me in the period May to December 2011. The basis on which Ministers record their mileage does not require them to list individual trips. Mileage...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Feb 2012)

Michael Noonan: As the Deputy is aware IBRC has been provided with a total capital contribution of €34.6 billion. The Deputy will appreciate that much of the information requested in his question is subject to external factors and that it is not practical to be definitive in terms timelines or costs at this point. Suffice to say that the Board of the bank is charged with the work-out of the bank's assets...

Written Answers — Departmental Expenditure: Departmental Expenditure (28 Feb 2012)

Michael Noonan: In the period since March 2011 €63.00 has been spent by me in relation to Official entertainment. Senior officials within my Department spent €1,193 on official entertainment in 2011.

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Feb 2012)

Michael Noonan: The NAMA annual statement, which was produced in September, 2011 projected costs for the year in the region of €242 million. This was based on a preliminary review carried out in September 2011. A further more detailed review was carried out in December/January based on the costs outturn for 2011. Taking this information into account, it is projected that annual costs in 2012 will be...

Written Answers — Tax Collection: Tax Collection (28 Feb 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the information requested, estimated by reference to the income tax year 2011, is set out in the following table. All Income Earners for Income Tax Year 2011 (provisional) Range of Gross Income Numbers €30,001 - €49,999 498,261 €50,000 - €70,000 231,794 €70,001 - €100,000 148,428 €100,001 - €150,000 70,892 €150,001...

Written Answers — Credit Union Regulation: Credit Union Regulation (28 Feb 2012)

Michael Noonan: Section 87 of the Credit Union Act 1997 provides the Central Bank – incorporating the Registrar of Credit Unions – with the power to issue regulatory directions on certain grounds. This includes the power to place lending restrictions on credit unions. I have asked the Commission on Credit Unions to consider if there is a need for an appropriate appeal mechanism for regulatory...

Written Answers — Tax Yield: Tax Yield (28 Feb 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the net receipt from Stamp Duty on financial cards and cheques in 2011, broken down by type of card, is as set out in the following table: Card Type Net receipt 2011€m Credit 51.8 ATM 1.5 Debit 0.03 Combined (ATM/Debit) 15.7 Cheques 33.23 Total 102.26 The figures are provisional and subject to revision.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Feb 2012)

Michael Noonan: The Deputy will be aware that under the Relationship Framework the Board of the bank is responsible for the day-to-day operations of the bank. The bank has retained the services of the 'strategic advisory arm' of the Group, referred to in the question. The bank has previously been requested by my Department to confirm that there is no conflict in relation to the appointment. The Deputy will...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Feb 2012)

Michael Noonan: The report by Mr. Michael Geoghegan made a wide range of recommendations that were designed to assist the NAMA Board, including a proposal that the Agency would take on the direct management of the NAMA loans currently managed on its behalf by the participating institutions. I am informed by the Chairman of NAMA that the Board has given its approval to the establishment of dedicated teams...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Feb 2012)

Michael Noonan: I have appointed Mr Michael Geoghegan to chair a small group of advisors to advise me on the future strategic direction of NAMA. Mr Geoghegan has agreed to carry out his role on a pro bono basis. I am currently considering the names of potential candidates who have the appropriate experience and background to work effectively on the group of advisors with Mr Geoghegan. I expect to announce...

Written Answers — Motor Fuels: Motor Fuels (28 Feb 2012)

Michael Noonan: A derogation under EU Directive 2003/96 on Energy Taxation allowed the application of a reduced rate of Mineral Oil Tax to fuel used for the purposes of certain road passenger services. That derogation has expired and the arrangement was, therefore, terminated by the Finance Act 2008. It would not be possible, having regard to the relevant provisions of EU law, to re-introduce a scheme of...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Feb 2012)

Michael Noonan: As the Deputy is aware, the banking system restructuring plan creates capacity for the two Pillar Banks, Bank of Ireland and AIB, to provide lending in excess of €30 billion in the next three years. SME and new mortgage lending for these banks is expected to be in the range of €16-20bn over this period. This lending capacity is incorporated into the banks' deleveraging plans which allow...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Feb 2012)

Michael Noonan: A review of NAMA was carried out by Mr. Michael Geoghegan in 2011 at the request of the NAMA Board and with my agreement. In his report he made a number of proposals to the Board of NAMA including the appointment of a Chief Financial Officer (CFO). These proposals were considered by the Board and, on 15th February 2012, NAMA announced a reorganisation of functions, the establishment of new...

Written Answers — Tax Yield: Tax Yield (28 Feb 2012)

Michael Noonan: I would point out that the estimated additional yield from a 2% increase in the standard rate of VAT for 2012, as announced in my Budget 2012 speech, is €560 million. The estimate of €670 million relates to receipts from the 2% increase in a full year. These estimates were calculated by applying a direct increase of 2% to the expected yield from the 21% rate of VAT in 2011. They are...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 166 and 167 together. As the Deputy is aware the Board of the bank is responsible for the day to day operation of the bank, including the recovery, in normal course, of debt owed to the bank. The Board of the bank is charged with responsibility for recovering the maximum value of the bank's loan book or related security having regard to the best interests of...