Results 24,541-24,560 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (6 Jul 2011)

Michael Noonan: VAT is charged on the supply of goods and services, and the rate applying is subject to the requirements of EU VAT law with which Irish VAT law must comply. While many tourist related services were made subject to a new temporary lower reduced VAT rate of 9% from 1 July, it is not possible to extend this treatment to the goods and services that remain subject to the 13.5% rate. This arises...

Written Answers — Property Raffles: Property Raffles (6 Jul 2011)

Michael Noonan: The legal restrictions that might apply to a property owner disposing of her/his home by public raffle are a matter for the Minister for Justice and Equality, who states that it would not be appropriate to offer advice or comment; the parties should instead seek their own legal advice on the matter. However, the Minister informs me that, in the event of a raffle being regarded as a lottery,...

Written Answers — Tax Reliefs: Tax Reliefs (6 Jul 2011)

Michael Noonan: I assume that Deputy is referring to mortgage interest relief in respect of principal private residences. On that basis, I am informed by the Revenue Commissioners that the cost to the Exchequer of mortgage interest relief by way of tax relief at source (TRS) in 2010 was €375 million and in the six months to the end of June 2011 is €178 million. The cost for the full year of 2011 is...

Written Answers — Tax Reliefs: Tax Reliefs (6 Jul 2011)

Michael Noonan: Section 473 of the Taxes Consolidation Act, 1997 provides tax relief at the standard rate to individuals who pay for private rented accommodation that is used as their sole or main residence. The level of rent qualifying for rent relief depends on an individual's marital status and age. In Budget 2011, it was announced that rent relief was being withdrawn on a phased basis. No new...

Finance (No. 3) Bill 2011: Order for Report Stage (6 Jul 2011)

Michael Noonan: I move: "That Report Stage be taken now." Question put and agreed to.

Finance (No. 3) Bill 2011: Report and Final Stages (6 Jul 2011)

Michael Noonan: I move amendment No. 1: In page 66, between lines 15 and 16, to insert the following: " " 235 section 864A(1)(d) Chapter 1 of Part 44. Chapter 1 of Part 44 orChapter 1 of Part 44A " This is a technical amendment which I commend to the House. It ensures communications with Revenue by civil partners in respect of joint assessment can be made electronically.

Finance (No. 3) Bill 2011: Report and Final Stages (6 Jul 2011)

Michael Noonan: I move amendment No. 2: In page 70, column 4, lines 66 to 69, to delete "the civil partner of one or more of his or her lineal descendents" and substitute "a lineal descendant of his or her civil partner". This is a technical amendment that I commend to the House and which corrects a typographical error.

Finance (No. 3) Bill 2011: Report and Final Stages (6 Jul 2011)

Michael Noonan: I move amendment No. 3: In page 76, column 4, line 54, to delete "made under section 175 of" and substitute " under Part 15 of". This is a technical amendment which ensures qualified cohabitants who apply to the court for a redress order under the Civil Partnership and Certain Rights and Obligations of Cohabitants Act will be exempt from capital acquisitions tax on transfers under all such...

Finance (No. 3) Bill 2011: Report and Final Stages (6 Jul 2011)

Michael Noonan: I thank Members opposite for facilitating me by coming into the Chamber so expeditiously this afternoon, as the call came sooner than expected.

Order of Business (6 Jul 2011)

Michael Noonan: I will send some material to the Deputy.

Written Answers — Tax Reliefs: Tax Reliefs (5 Jul 2011)

Michael Noonan: The relief from Stamp Duty for farm consolidation expired on 30 June. I understand the level of take up of the scheme was not particularly high: there were only 115 applications for the relief from its introduction in 2005 until the end of 2009; figures for 2010 and 2011 are not yet available. I have no plans at this time to renew this relief.

Written Answers — Corporation Tax Policy: Corporation Tax Policy (5 Jul 2011)

Michael Noonan: Taxation in the European Treaties is a sovereign issue for Member States and taxation matters at a European level can only be decided on the basis of unanimity. For this reason, Ireland is aware of the attitude of other Member States, including France, to our corporation tax rate. Corporation tax policy is critical to the Irish economic growth model. The foreign-owned sector is currently...

Written Answers — Public Service Remuneration: Public Service Remuneration (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 39, 43 and 45 together. Data on earnings in the public sector is sourced from the Revenue Commissioners and similar data to that sought was supplied in response to Parliamentary Questions, Reference Nos. 2785/2786/2787 and 2788, of 18 January 2011. On the basis of the available tax-based data it is not possible to identify and exclude income from public...

Written Answers — Commercial Property Valuations: Commercial Property Valuations (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 40 and 41 together. There are currently 144 staff employed in the Valuation Office which is a statutory Office headed by the Commissioner of Valuation. The Commissioner is responsible for all valuation matters under the Valuation Act 2001. I should point out that the Commissioner is independent under the Act and that I, as Minister for Finance, have no...

Written Answers — Fiscal Policy: Fiscal Policy (5 Jul 2011)

Michael Noonan: The Programme for Government states that as part of the Government's fiscal strategy we will maintain the current rates of income tax together with bands and credits. As the Deputy is aware, the Government has initiated a Comprehensive Review of Expenditure (CRE) to provide the Government with a set of decision options to meet the overall fiscal consolidation objectives and re-align spending...

Written Answers — Proposed Legislation: Proposed Legislation (5 Jul 2011)

Michael Noonan: I have indicated to the House that, consistent with Government policy, I will raise the issue of burden sharing which will allow for the imposition of loses on unguaranteed and unsecured senior bondholders in Anglo and INBS with the IMF and EU authorities in the autumn. The Government will not take any unilateral action in this area, but will work with our external partners to explain our...

Written Answers — Eurozone Contingency Measures: Eurozone Contingency Measures (5 Jul 2011)

Michael Noonan: The focus of Government is to work with our partners in the Euro Area and the broader EU to maintain and enhance the stability of the Euro. This is also the aim and intention of the wider international community including the IMF. Our actions support this. Financial support measures were put in place for Greece, and the European Financial Stabilisation Mechanism, (the EFSM), and the...

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: A number of possible changes to the Capital Acquisitions Tax (CAT) and Capital Gains Tax (CGT) provisions are under consideration. The Deputy may be aware that the CAT Group tax-free thresholds were reduced by approximately 20% in Budget 2011. The level and timeframe of any changes will be determined in the context of the Budget following the comprehensive expenditure review.

Written Answers — Mortgage Arrears: Mortgage Arrears (5 Jul 2011)

Michael Noonan: The revised Code of Conduct on Mortgage Arrears (CCMA) was issued to all mortgage lenders in December 2010 and has been effective since 1 January 2011. The CCMA sets out how mortgage lenders must treat borrowers in or facing mortgage arrears. The CCMA requires that each lending branch must have at least one person with specific responsibility for dealing with arrears and pre-arrears cases....

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: The EU/IMF Programme provides for a 1% increase in the standard VAT rate to 22% with effect from January 2013, and a further 1% increase in the standard VAT rate to 23% with effect from January 2014. The Programme for Government continues this VAT policy by limiting the top rate of VAT to 23%, but does not specify the timeframe for this increase. The level and timeframe of any increases in...