Results 5,141-5,160 of 27,019 for speaker:Michael Noonan

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: Behave yourselves, lads.

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: Many Deputies are looking for background and general information, so I will give them that first and then I will try to answer some of the specific questions that were raised. At present it is estimated that approximately 87,500 households are in receipt of social housing supports. This is made up of the following: 62,900 are in receipt of rent supplement; 20,000 are in the rental...

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: No. REITs are excluded. Deputy Boyd Barrett probably understands the REIT system. They are exempt from tax within the REIT on condition that they distribute 85% of profits to their shareholders. As they do not pay tax within the REIT, there is no tax deductability on the interest within the REIT, so they are excluded.

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: It does not really matter who the landlord is. The test is whether he is prepared to rent to somebody on rent allowance. If so, he or she gets the interest tax break of 100% rather than 75%, but only on the unit that is rented, not on the block. The scheme does not depend on the background or nature of the landlord. It does not distinguish between wealthy landlords and poor landlords, but...

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: Six months later the banks were closed by the same Greek Government and withdrawals from ATMs were restricted to €60.

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: It is part of the Trotskyite dialogue to always blame some outside force, but there is a connection between the policies that were followed and the results that were achieved. The policies followed by the Greek Government ended up with the country on the brink of disaster. The Greek Prime Minister of the day realised this and sacked his finance Minister, and a different set of policies have...

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: I thank all Deputies who participated in the debate on the amendment. They will recall that the Minister, Deputy Alan Kelly, and I made a joint announcement on a series of measures to deal with the problem of rents, rental property and the lack of supply and housing market. There was a range of measures and I am sure Deputies can recall some of them. They included everything from NAMA's...

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: We have socialists who oppose property taxes.

Finance Bill 2015: Order for Report Stage (24 Nov 2015)

Michael Noonan: I move: "That Report Stage be taken now."

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: I move amendment No. 1:In page 8, line 9, to delete “and” and substitute the following:“(iii) to insert the following after subsection (4):“(5) Subject to subsection (7), where relevant emoluments are paid on 31 December in a tax year or, if that year is a leap year, on 30 or 31 December in that year (referred to in this section as the ‘relevant...

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: I move amendment No. 2:In page 8, to delete lines 25 and 26 and substitute the following:“(2) (a) Subsection (1), other than subparagraph (iii) of paragraph (b), applies for the year of assessment 2016 and each subsequent year of assessment, and (b) Subsection (1)(b)(iii) applies for the year of assessment 2015 and each subsequent year of assessment.”.

Finance Bill 2015: Report Stage (24 Nov 2015)

Michael Noonan: I move amendment No. 3:In page 14, between lines 5 and 6, to insert the following:“Amendment of section 97 of Principal Act (computational rules and allowable deductions) 15. (1) Section 97 of the Principal Act is amended by inserting the following subsection after subsection (2J):“(2K) (a) In this subsection— ‘Board’ means the Private Residential...

Written Answers — Department of Finance: Mortgage Lending (24 Nov 2015)

Michael Noonan: As the Deputy is aware, the Central Bank of Ireland, in line with its mandate to safeguard financial stability, has put in place new macro-prudential measures for residential mortgage lending effective from last February. These measures apply proportionate loan-to-value and loan-to-income limits to mortgage lending by regulated financial service providers in the Irish...

Written Answers — Department of Finance: Credit Unions Services (24 Nov 2015)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit...

Written Answers — Department of Finance: Banking Sector (24 Nov 2015)

Michael Noonan: The Deputy will be aware that I, in my role as Minister for Finance, have no direct function in the relationship between the banks and their customers. I have no statutory function in relation to the commercial  decisions made by individual institutions at any particular time and these are taken by the board and management of the relevant institution. ...

Written Answers — Department of Finance: Tax Code (24 Nov 2015)

Michael Noonan: In my Finance Bill speech I announced that an employer may provide an employee with a single annual non-cash benefit to a maximum of €500 without applying PAYE, PRSI and USC to that benefit. Last week I brought forward a Committee Stage Amendment that would allow the measure to apply from date of publication of the Finance Bill, 22nd October 2015. I have been informed by the...

Written Answers — Department of Finance: Living City Initiative (24 Nov 2015)

Michael Noonan: Applications for the Living City Initiative are only required to be made to the relevant local authority under the residential element of the scheme. Applications are not required to be made under the commercial element of the scheme. I am advised by the Revenue Commissioners that, since the launch of the scheme in May, based on information received from the councils to date, the number of...

Written Answers — Department of Finance: Pensions Levy (24 Nov 2015)

Michael Noonan: The 0.15% stamp duty levy on pension funds will, as I have previously confirmed, cease at the end of 2015.

Written Answers — Department of Finance: Property Tax Administration (24 Nov 2015)

Michael Noonan: Section 38 of the Finance (Local Property Tax) Act 2012 (as amended) provides for the application of a 10% surcharge on Income Tax, Corporation Tax and Capital Gains Tax liabilities where there are outstanding Local Property Tax (LPT) Returns or payments. The surcharge is in addition to the amount due in LPT and any accrued interest (8% per annum) on foot of late payment of LPT. Where a...

Written Answers — Department of Finance: Credit Unions Regulation (24 Nov 2015)

Michael Noonan: The Government established the Commission on Credit Unions in 2011 to review the future of the credit union movement and to make recommendations, while taking account of their not-for-profit mandate, their volunteer ethos and community focus, and paying due regard to the need to fully protect members' savings and financial stability. The Commission presented its Report on 31 March 2012...