Results 4,841-4,860 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Collection (13 Jan 2016)

Michael Noonan: Revenue is charged with the responsibility to collect taxes and duties that are payable and to levy interest and penalties in appropriate instances. The Deputy will be aware that in general the principle of self-assessment applies to taxes administered by Revenue. The primary responsibility for calculating and paying the correct amounts of tax rests with the taxpayer. Revenue does of...

Written Answers — Department of Finance: State Banking Sector (13 Jan 2016)

Michael Noonan: I propose to take Questions Nos. 221 and 222 together. As requested by the Deputy, the tables below provide details of proceeds received from the disposal of bank assets and dividends received to date: 1.Disposal proceeds including accrued interest and dividend Date Transaction AIB BOI PTSB Total 2010 April Cancellation of preference share warrants - €0.49bn - ...

Written Answers — Department of Finance: Financial Institutions Support Scheme (13 Jan 2016)

Michael Noonan: The ELG Scheme closed for new liabilities at midnight on 28 March 2013. Eligible liabilities covered under the Scheme which were incurred up to midnight on 28 March 2013 continue to be covered up to their maturity date which could be up to 5 years maximum from the date the liability was incurred. This means that covered liabilities will wind down over the period from midnight on 28 March...

Written Answers — Department of Finance: NAMA Accounts (13 Jan 2016)

Michael Noonan: It is difficult to indicate definitively what the surplus position will be when NAMA completes its work. As the Deputy may be aware, the NAMA Chairman and Chief Executive appeared before the Joint Oireachtas Committee on Finance, Public Expenditure and Reform on 16 December 2015. At that appearance, the NAMA Chairman provided an updated estimate to the Committee when he...

Written Answers — Department of Finance: IBRC Operations (13 Jan 2016)

Michael Noonan: I am advised by the Special Liquidators that they currently have a cash balance in excess of €2.1bn on hand which will be available for distribution to creditors. The ultimate level of dividend paid, if any, to each creditor cannot be known until such time as all loan assets are sold, the total level of adjudicated creditors is finalised and the other contingent creditor claims...

Written Answers — Department of Finance: House Prices (13 Jan 2016)

Michael Noonan: According to the latest Daft.ie House Price Report, the average asking price for residential property increased by 8.5% in the year to the fourth quarter of 2015. However, significant regional differences exist particularly as between the Dublin region and the rest of the country. Outside of Dublin, asking prices grew by 13% on an annual basis while the rate of growth in Dublin has continued...

Written Answers — Department of Finance: Universal Social Charge Exemptions (13 Jan 2016)

Michael Noonan: I am advised by the Revenue Commissioners that they have written to the person concerned to clarify her personal circumstances and following receipt of a response to that letter, Revenue will review and confirm the position to her as regards exemption from the Universal Social Charge (USC).

Written Answers — Department of Finance: Mortgage Interest Relief Application (13 Jan 2016)

Michael Noonan: I propose to take Questions Nos. 228 and 229 together. As the Deputy is aware, mortgage interest relief, which is administered by Revenue through the Tax Relief at Source (TRS) system, does not apply to loans taken out after 31 December 2012.  However, qualifying loans taken out between 1 January 2004 and 31 December 2012 are eligible for the relief up to and including 31 December 2017....

Written Answers — Department of Finance: Employment Data (13 Jan 2016)

Michael Noonan: In line with Budget 2016, the employment and unemployment forecasts, along with the underlying totals, produced on the basis of available data at the time are set out in the table below. - 2016 2017 2018 2019 2020 Employment, aged 15 and over per cent growth 2.4 2.0 1.9 1.8 1.7 Employment, aged 15 and over persons (000s) 2,014 2,054 2,094 2,131 2,167 Unemployment, aged 15-74 per...

Written Answers — Department of Finance: Government Deficit (13 Jan 2016)

Michael Noonan: The most recent projections in relation to both government deficit and debt figures were included as part of the Budget 2016 publication and are displayed in the table below. 2015 2016 2017 2018 2019 2020 2021 Deficit as % GDP -2.1 -1.2 -0.5 0.2 1.0 1.8 2.5 Debt as % GDP 97.0 92.8 90.3 86.7 83.5 79.8 75.7Source: Department of Finance The impact of the 2015 Exchequer returns, which...

Written Answers — Department of Finance: Home Repossession (13 Jan 2016)

Michael Noonan: I appreciate the difficult position many people find themselves in with respect to their personal indebtedness situation.  While it would not be appropriate for me to intervene directly in individual cases, there are a number of supports available that should be of assistance.  I would strongly advise the person referred to by you to immediately seek financial and legal advice on...

Written Answers — Department of Finance: Universal Social Charge Yield (13 Jan 2016)

Michael Noonan: I propose to take Questions Nos. 233 and 234 together. The table below sets out the broad projected revenues that will be generated by the Universal Social Charge for each of the next five years on a no policy change basis. These approximate figures are on an Exchequer receipts basis. It should be noted for 2017 Exchequer receipts are reduced due to the carryover effect of Budget 2016 changes...

Written Answers — Department of Finance: Mortgage Data (13 Jan 2016)

Michael Noonan: The Deputy will be aware that the Central Bank of Ireland (Central Bank) publishes the Residential Mortgage Arrears and Repossession Statistics series on a quarterly basis which provides a comprehensive overview of the entire Irish mortgage market including information on arrears broken down by duration; legal proceedings and repossessions; restructure arrangements broken down by type;...

Written Answers — Department of Finance: Motor Insurance Regulation (13 Jan 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  The Central Bank of Ireland, as regulator, is responsible for prudential supervision of insurance companies. I am aware of continued reports on the increasing cost of motor insurance.  However, the ability of the Government to influence insurance costs is...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (13 Jan 2016)

Michael Noonan: I am informed by the Revenue Commissioners that the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (S.I. 353 of 1994), which provide for certain reliefs from VRT and VAT at the time of registration, do not prevent use of a qualifying vehicle as a taxi, provided that all other conditions of the Scheme are complied with.

Written Answers — Department of Finance: Living Wage (13 Jan 2016)

Michael Noonan: In response to the Deputy's query, it is important that Ireland's statutory National Minimum Wage and the Living Wage concept are not merged together. The Living Wage is a voluntary societal initiative centred on the social, business and economic case to ensure that, wherever it can be afforded, employers will pay a rate of pay that provides an income that is sufficient to meet an...

Written Answers — Department of Finance: Property Tax Deferrals (13 Jan 2016)

Michael Noonan: I am advised by Revenue that Part 12 of the Finance (Local Property Tax) Act 2012 (as amended) provides for Deferral, and Partial Deferral (50%) schemes that can apply to liable property owners under certain conditions including, 'Income Level', 'Hardship', 'Personal Insolvency' and 'Personal Representative of a Deceased Person'. Additionally, Revenue also recently announced that it is...

Written Answers — Department of Finance: Exchequer Payments (13 Jan 2016)

Michael Noonan: I understand, following clarification with Deputy Timmins, that the Deputy is seeking an estimate of the cost to the Exchequer of providing a basic additional income of €3,600 to those who currently earn under €30,000. On this basis, I am advised by the Revenue Commissioners that there are an estimated 1,232,000 income earners whose gross income is €30,000 or...

Written Answers — Department of Finance: Insurance Industry (13 Jan 2016)

Michael Noonan: The liquidation of an insurance company is a legally complex process.  Setanta is a Maltese incorporated company and, therefore, the Setanta liquidation is being carried out under Maltese law.  Progress in the liquidation of Setanta Insurance has been awaiting the outcome of legal proceedings in the case of the Law Society of Ireland versus the Motor Insurers' Bureau of Ireland...

Written Answers — Department of Finance: Mortgage Interest Relief Application (13 Jan 2016)

Michael Noonan: Firstly, I would like to confirm to the Deputy that the lending institutions in Ireland - including those in which the State has a shareholding - are independent commercial entities. I, as Minister for Finance, have no statutory role in relation to regulated financial institutions passing on the European Central Bank interest rate change or in relation to the mortgage interest rates...