Results 24,201-24,220 of 27,019 for speaker:Michael Noonan
- Written Answers — Mortgage Arrears: Mortgage Arrears (14 Sep 2011)
Michael Noonan: I assume that the Deputy is referring to the Deferred Interest Scheme that was recommended by the Expert Group on Mortgage Arrears and Personal Debt which published its report late last year. Under this scheme, subject to certain criteria being satisfied, borrowers are allowed to pay at least 66% of their mortgage interest but less than 100%. Payment of the balance may be deferred for up to...
- Written Answers — Tax Code: Tax Code (14 Sep 2011)
Michael Noonan: The Deputy refers to a reply given to Parliamentary Question No. 105 of 2011, in which a figure was supplied in error. The correct figures are below: 2007 2008 â¬M Numbers â¬M Numbers Exemption of Income Arising from the Provision of Childcare Services 0.7 400 0.8 440 Section 216C of the Taxes Consolidation Act, 1997 provides for an exemption from income tax for individuals who mind...
- Written Answers — Tax Code: Tax Code (14 Sep 2011)
Michael Noonan: There are different ways of measuring the effective rate of corporation tax depending on the variables that are used and it is difficult to determine a general or single reliable comparative measure of an effective tax rate. In responding to questions in the House during the Summer, I mentioned that our effective rate of corporation tax was 11.9%. This figure comes from a recent Paying...
- Written Answers — Tax Code: Tax Code (14 Sep 2011)
Michael Noonan: The availability of relief for losses incurred in a business is a well-established feature of corporation tax, which is in recognition of the fact that a business cycle runs over several years and that it would be unbalanced to tax profits in one year and not allow losses in another. Under Irish tax legislation, a company incurring a trading loss in an accounting year can carry that loss back...
- Written Answers — Tax Code: Tax Code (14 Sep 2011)
Michael Noonan: I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer from increasing the Capital Acquisitions Tax rate by 10%, based on the expected outturn in 2011, could be in the region of â¬110 million, assuming no change in the existing thresholds. The additional full year yield from existing taxpayers from reducing the existing thresholds by 10% and applying...
- Written Answers — Tax Reliefs: Tax Reliefs (14 Sep 2011)
Michael Noonan: I am informed by the Revenue Commissioners that the information provided in tax returns on the annual amounts of claims for property based tax reliefs is not sufficiently detailed to provide a basis for deriving an estimate of the remaining legacy cost to the Exchequer. I am not therefore in a position to provide the information requested by the Deputy. The estimated annual cost to the...
- Written Answers — Departmental Expenditure: Departmental Expenditure (14 Sep 2011)
Michael Noonan: The total amount of professional fees paid by my Department in 2010 was â¬5,393,503. If a reduction of 25% was applied across the board then potential savings of â¬1,348,376 could have been achieved. In relation to expenditure on professional fees by agencies under the aegis of my Department the following outlines the position of each:-
- Written Answers — Tax Code: Tax Code (14 Sep 2011)
Michael Noonan: It is assumed that the threshold for the proposed new tax band 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 2012 incomes, of the introduction of a new 49% rate...
- Written Answers — Tax Code: Tax Code (14 Sep 2011)
Michael Noonan: I am informed by the Revenue Commissioners that based on personal income tax returns filed by non-PAYE taxpayers for 2009, the latest year available, the amount of tax foregone by allowing a deduction for interest on borrowings to be offset against all rental income assessable under Case V, Schedule D for both residential and commercial property is estimated at â¬745 million. This is an...
- Written Answers — Tax Code: Tax Code (14 Sep 2011)
Michael Noonan: In recognition of the fact that groups of companies generally comprise a single economic entity, the Taxes Consolidation Act 1997 provides for the allowance of trading losses of a group company in an accounting period against profits of another group company in the corresponding accounting period. Essentially, two companies are members of a group of companies if one company is a 75%...
- Written Answers — Tax Code: Tax Code (14 Sep 2011)
Michael Noonan: I am informed by the Revenue Commissioners that the information furnished on corporation tax returns does not generally require the yield from a particular sector or sub-sector of economic activity to be identified. In these circumstances the amount of tax revenues collected in respect of the activities specified in the question cannot be readily identified from the overall corporation tax...
- Written Answers — Departmental Expenditure: Departmental Expenditure (14 Sep 2011)
Michael Noonan: The information requested by the Deputy will be forwarded directly to him within the next few days.
- Written Answers — Departmental Expenditure: Departmental Expenditure (14 Sep 2011)
Michael Noonan: The expenditure on credit cards by my Department over the past four years is as follows: Year Spend 2007 â¬8,310 (Sept to Dec) 2008 â¬44,697 2009 â¬35,566 2010 â¬31,694 2011 â¬15,075 (year to date) The expenditure on entertainment by credit cards by my Department over the past four years is as follows: Year Spend 2007 ...
- Written Answers — Ministerial Staff: Ministerial Staff (14 Sep 2011)
Michael Noonan: Since his appointment as Minister of State for Public Service Reform and the Office of Public Works at the Department of Public Expenditure and Reform and Department of Finance, Mr Brian Hayes, TD has appointed the following staff member to his office: GRADE SALARY SCALE (per annum) Staff Officer â¬33,070 - â¬43,906
- Written Answers — Ministerial Staff: Ministerial Staff (14 Sep 2011)
Michael Noonan: Since my appointment as Minister for Finance on 9 March 2011 the relevant details are as follows: Name Title Salary (per annum) Duties Mary Kenny Special Adviser â¬83,337 Any duties which may be assigned to her from time to time as appropriate to the position of Special Adviser as set out in Section 11 of the Public Service Management Act 1997.
- Written Answers — Ministerial Staff: Ministerial Staff (14 Sep 2011)
Michael Noonan: Since my appointment as Minister for Finance on 9 March 2011, the following staff have been appointed to my private office: GRADE SALARY SCALE (per annum) 1 Private Secretary â¬33,247 - â¬58,294 2 Executive Officers (EO) â¬29,024 - â¬47,379 1 Clerical Officer (CO) â¬23,177- â¬37,341 2 Clerical Officers (CO) â¬23,042 - â¬36,267 The following staff are assigned to work on...
- Written Answers — Tax Code: Tax Code (14 Sep 2011)
Michael Noonan: I am advised by the Revenue Commissioners that there have been no changes in the qualifying criteria for the Vehicle Registration Tax (VRT) exemption for disabled passengers. The scheme is governed by the Disabled Drivers and Disabled Passengers [Tax Concessions] Regulations 1994 (S.I. No. 353 of 1994). The Scheme is open to persons who meet the specified medical criteria and have obtained a...
- Written Answers — Pension Provisions: Pension Provisions (14 Sep 2011)
Michael Noonan: I would consider the Deputy's question to be principally a matter for the Minister for Social Protection but tax legislation and rules are also relevant to the issue. Generally speaking, once an occupational pension scheme member has at least two years qualifying service for pension purposes, that member is entitled under the Pensions Acts to preserved pension benefits on leaving employment...
- Written Answers — Tax Collection: Tax Collection (14 Sep 2011)
Michael Noonan: I assume that the measure to which the Deputy refers is the Domicile Levy which was announced in Budget 2010 and introduced in Finance Act 2010. The Domicile Levy of â¬200,000 is charged on an individual who is Irish-domiciled and an Irish citizen whose world-wide income exceeds â¬1m, whose Irish-located property is greater than â¬5m, and whose liability to Irish income tax was less than...
- Written Answers — Tax Collection: Tax Collection (14 Sep 2011)
Michael Noonan: The Revenue Commissioners are charged with responsibility for the timely collection and recovery of taxes and duties due to the Exchequer. Revenue has a clear focus on making sure that every person and business complies with his or her responsibilities by paying the right amount and on time. That is an appropriate and correct focus for Revenue, which I fully endorse. In that context, where...