Results 25,241-25,260 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (17 May 2011)

Michael Noonan: I am informed by the Revenue Commissioners that in so far as an investment property is generally understood to be a property from which the owner seeks to derive profits through lettings, a deduction is allowed (subject to certain conditions) for interest on borrowed money employed in the purchase, improvement or repair of the premises concerned. However, for interest accruing on or after 7...

Written Answers — Pension Provisions: Pension Provisions (17 May 2011)

Michael Noonan: The Deputy's question is 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 pensions benefits on leaving employment and does not get a...

Written Answers — Public Service Staff: Public Service Staff (17 May 2011)

Michael Noonan: As the Deputy will be aware the Special Civil Service Incentive Career Break Scheme 2009 was introduced as a once-off measure in the Supplementary Budget on 7 April 2009. The measure was extended to staff in different areas of the public service, including the local government sector and the HSE. The closing date for participation in this scheme has expired and there is no current proposal...

Written Answers — Company Closures: Company Closures (17 May 2011)

Michael Noonan: I am advised by the Revenue Commissioners that it is the responsibility of an employer to issue a P45 when an employee has ceased in employment. Part 1 of the P45 is given to Revenue to notify that the employment has ceased. Parts 2, 3 and 4 are given to the employee to give to their new employer to avoid paying emergency tax, to claim a refund of tax during unemployment or to claim Social...

Written Answers — Public Service Staff: Public Service Staff (17 May 2011)

Michael Noonan: I propose to take Questions Nos. 117 to 129, inclusive, together. The Government is committed to continuing improvement in the efficiency of public services and, in order to achieve this, to formulate and promote policies which drive efficiency and effectiveness across the public service. As part of the Programme for Government, public service bodies have to adhere to targets in terms of...

Written Answers — Departmental Expenditure: Departmental Expenditure (17 May 2011)

Michael Noonan: There are currently 5 departmental credit cards issued to officials in my Department. My Private Secretary and my Press Officer both have been issued with credit cards. These cards are used generally for official expenses in connection with travel, including accommodation and subsistence expenses, and official hospitality. The three remaining cards are for the general usage of the...

Written Answers — Tax Code: Tax Code (17 May 2011)

Michael Noonan: I propose to take Questions Nos. 131 and 136 together. The Valuation Office is the State property valuation agency, headed by the Commissioner of Valuation. The Office provides statutory valuations under the provisions of the Valuation Act, 2001. It also provides a valuation consultancy service to Government departments and public bodies. On foot of a request, the Valuation Office provided a...

Written Answers — Departmental Agencies: Departmental Agencies (17 May 2011)

Michael Noonan: The day-to-day management, including the human resource function, of all of the agencies under the remit of my Department is a matter for the respective heads of the agencies concerned. However, with specific regard to NAMA, Section 42(1) of the National Asset Management Agency Act, 2009 provides that the NTMA shall assign so many of its staff to NAMA as the Board determines, upon the...

Written Answers — Credit Guarantee Scheme: Credit Guarantee Scheme (17 May 2011)

Michael Noonan: As I indicated last week, in accordance with the commitment in the Programme for Government, we will be initiating a tendering process for the development of a temporary, partial credit guarantee scheme. The design of the scheme will draw from international experience to support new lending that would not otherwise have been extended by the banks. In this way, the scheme will complement,...

Written Answers — Tax Code: Tax Code (17 May 2011)

Michael Noonan: I would point out that the VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. The rate of VAT applicable to the supply of hurleys is the standard rate, which in Ireland is 21%. Under EU law there is no scope for applying a reduced rate of VAT to the supply of hurleys or other sports equipment.

Written Answers — State Laboratory: State Laboratory (17 May 2011)

Michael Noonan: There are currently no vacancies in the State Laboratory.

Written Answers — Public Sector Employment Policy: Public Sector Employment Policy (17 May 2011)

Michael Noonan: It is a general condition of the Incentivised Scheme of Early Retirement (ISER) that persons availing of this Scheme will not be eligible for re-employment in the same part of the public service. In order to ensure compliance with the provisions of the form of acceptance, Departments and other Public Service employers must inquire of relevant future job applicants if they have availed of the...

Written Answers — Financial Services Regulation: Financial Services Regulation (17 May 2011)

Michael Noonan: At the outset, the Deputy should note that while I have responsibility as Minister for Finance for the development of the legal framework governing financial regulation, the day to day responsibility for the supervision and authorisation of financial institutions is a matter for the Central Bank which is statutorily independent in the exercise of its regulatory functions. I therefore will...

Written Answers — Departmental Schemes: Departmental Schemes (17 May 2011)

Michael Noonan: As I indicated to the Deputy in my previous response of 12th April, the approval of the European Commission is required before the new scheme can be commenced. My officials are engaged in ongoing discussions with the European Commission with regard to the proposed changes. I can assure the Deputy that the scheme will be implemented as soon as possible once approval has been received. However,...

Written Answers — Financial Services Regulation: Financial Services Regulation (17 May 2011)

Michael Noonan: The Central Bank of Ireland's Consumer Protection Code requires that a regulated entity must ensure that in all its dealings with customers and within the context of its authorisation it, inter alia, must: · Act honestly, fairly and professionally and in the best interests of its customers and the integrity of the market; · Act with due skill, care and diligence in the best interests of its...

Written Answers — Banking Sector: Banking Sector (17 May 2011)

Michael Noonan: In excess of 500 expressions of interest were received by the closing date of last Thursday 12th May 2011 in response to the media advertisement of 28th April 2011. I would like to express my appreciation to those individuals who took the time and effort to submit applications. The Deputy will understand that at this early stage it would not be possible to indicate the number of candidates...

Written Answers — Departmental Appointments: Departmental Appointments (17 May 2011)

Michael Noonan: I refer the Deputy to PQ 10416/11 which was answered in written format to the Deputy on Tuesday, 12 May 2011 and which contains the bulk of the information requested. In addition, the individual mentioned in the Deputy's question had the following career history with my Department: Date Position Held in Department of Finance 06/12/93 Appointed Administrative Officer - Budget & Economic...

Written Answers — Prize Bonds: Prize Bonds (17 May 2011)

Michael Noonan: All State Savings money is placed directly with the Irish Government, and repayment of all NTMA State Savings money, which includes principal, interest and bonus payments if due (or, in respect of Prize Bonds, cash prizes), is a direct, unconditional obligation of the Government of Ireland. State Savings is the brand name used by the National Treasury Management Agency (NTMA) to describe the...

Written Answers — Health Insurance: Health Insurance (17 May 2011)

Michael Noonan: The position is that health expenses relief is granted at the standard rate only, in respect of expenses incurred from 1 January 2009 except for nursing home expenses which continue to be granted at the marginal rate (up to 41%). Further information can be found in leaflet IT6 and Tax Briefing 68 on www.Revenue.ie It should be noted that the Finance Act 2010 also allows relief at the...

Written Answers — Tax Code: Tax Code (17 May 2011)

Michael Noonan: The position is that there is no specific proposal in the Programme for Government to means test or tax child benefit payments. However, as a matter of policy, taxation measures are reviewed on a regular basis as part of the annual Budget and Finance Bill process.