Results 6,541-6,560 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Pyrite Issues (14 Jul 2015)

Michael Noonan: Section 10A of the Finance (Local Property Tax) Act 2012 (as amended) provides for a temporary exemption of at least three years from the charge to Local Property Tax (LPT) for residential properties that have been certified under Regulations made by the Minister for the Environment, Community and Local Government (S.I. No 147 of 2013) as having "significant pyritic damage". The...

Written Answers — Department of Finance: NAMA Board (14 Jul 2015)

Michael Noonan: NAMA Board and Committee fees are set out in NAMA's annual reports and financial statements for the relevant reporting period.  Peter Stewart, a former NAMA Board member, was paid €7,641 in 2010 and €7,700 in 2011 for chairing the Northern Ireland Advisory Committee (NIAC). Mr Stewart resigned from the NAMA Board and NIAC in October 2011 and was replaced by NAMA Board...

Written Answers — Department of Finance: NAMA Expenditure (14 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 288 and 289 together. I am advised by NAMA that Lazard was engaged by NAMA in January 2014 to assess market interest in, advise on and manage the sale of NAMA's Northern Ireland debtor loan portfolio. I am further advised that the portfolio was sold in April 2014 for an amount in excess of NAMA's reserve sales price, which was set by reference to the net...

Written Answers — Department of Finance: NAMA Portfolio (14 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 290 and 291 together. While I am aware of recent reports in the media that law enforcement authorities in Northern Ireland and the UK National Crime Agency are to carry out an investigation into the alleged diversion of professional fees owing to a Northern Ireland law firm by its former managing partner. In a public statement on...

Written Answers — Department of Finance: NAMA Staff Transactions (14 Jul 2015)

Michael Noonan: I refer the Deputy to the NAMA Chairman's opening address to the Public Accounts Committee (PAC) on 9thJuly 2015, which is available on the NAMA website at the following link:  The NAMA Chairman advised the PAC that on 20 March 2014, PIMCO, one of a number of bidders for NAMA's Northern Ireland debtor loan portfolio, informed NAMA that its compliance department had discovered...

Written Answers — Department of Finance: Ministerial Meetings (14 Jul 2015)

Michael Noonan: Department of Finance records reflect that, since coming into office, I have met with representatives of the firm in question on 31 March 2014 and 19 March 2015. Officials from my department were also in attendance at these meetings. In addition to the above meetings, Department of Finance records also indicate that officials from my...

Written Answers — Department of Finance: Ministerial Meetings (14 Jul 2015)

Michael Noonan: Department of Finance records reflect that, since coming into office, I had one meeting with the firm in question which took place on 21st February 2013. An official from my department also attended that meeting. It is possible this is not an exhaustive list.  The Department's records do not reflect any other meetings with the firm in question.  In...

Written Answers — Department of Finance: Tax Code (14 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they actively encourage customers to manage their tax affairs online, including the submission of the annual tax return for PAYE (Form 12) and medical expenses claims, as this is the quickest, most secure and most efficient way for customers to do their business with Revenue. I am aware that Revenue has made a significant investment and is...

Written Answers — Department of Finance: National Pensions Reserve Fund Plans (14 Jul 2015)

Michael Noonan: The National Pensions Reserve Fund (NPRF) was formally established on 2 April 2001 to meet as much as possible of the cost to the Exchequer of social welfare and public service pensions from 2025 to at least 2055.Some €6.515 billion that had been set aside in the Temporary Holding Fund for Superannuation Liabilities in anticipation of the Fund being established was then...

Written Answers — Department of Finance: Mortgage Interest Rates (14 Jul 2015)

Michael Noonan: As the Deputy will be aware, under the Relationship Frameworks, the State does not intervene in the day to day operations of the banks in which it holds investments or their management decisions regarding commercial matters. Accordingly, it is not appropriate for me to comment on the rate charged by a bank at individual account level. The Deputy should also note that any consumer...

Written Answers — Department of Finance: Tax Code (14 Jul 2015)

Michael Noonan: As the Deputy is aware, a restriction of 75% on the deductibility of interest in computing taxable rental income from residential property was introduced in the April 2009 supplementary budget in respect of all residential lettings as part of an urgent revenue-raising package aimed at stabilising the public finances.  At the time of its introduction, a similar restriction...

Written Answers — Department of Finance: Revenue Documents Issuance (14 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that for reasons of taxpayer confidentiality, which is equally applicable to individuals and incorporated entities, they continue to be unable to provide the details sought by the Deputy.

Written Answers — Department of Finance: Central Bank of Ireland (14 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 300 and 301 together. As part of the liquidation of IBRC in February 2013, the NTMA issued eight Floating Rate Bonds to the Central Bank of Ireland (CBI). Details of the maturity dates, the nominal amounts issued and the interest margins applying to each of the eight Floating Rate Bonds are outlined in the following table. Floating Rate Bond Maturity...

Written Answers — Department of Finance: European Financial Stability Facility (14 Jul 2015)

Michael Noonan: The outstanding balances on the EFSF, EFSM and bilateral loans and the corresponding maturity profiles, as of end-June 2015, as provided by the NTMA, are outlined in the following table. Year EFSF* €m EFSM** €m Bilateral*** €m 2015 5,000 -86 2016 -130 2017 -94 2018 3,900 2019 1,949 2020 2,486 2021 3,000 817 2024 800 2026 2,000 2027 1,000 ...

Written Answers — Department of Finance: NAMA Loan Book (14 Jul 2015)

Michael Noonan: As set out in Note 19 of NAMA's Annual Report and Financial Statements for 2014, which is available on the NAMA website (), the carrying value of NAMA's loans at end-2014 was €13.36 billion and the corresponding par/nominal value - that is the amount owed by borrowers - was €55.59 billion.  These figures are also available on a quarterly basis in NAMA's section 55...

Written Answers — Department of Finance: Tax Reliefs Cost (14 Jul 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the cost to the Exchequer of tax relief allowed through the Tax Relief at Source system for medical insurance premia for 2014, the most recent year for which data are available, is estimated at €355 million. Tax relief is currently allowed at the standard rate of income tax i.e. 20%. The yield to the Exchequer of reducing the tax...

Written Answers — Department of Finance: Tax Code (14 Jul 2015)

Michael Noonan: When agricultural land is acquired under a compulsory purchase order (CPO), the acquiring authorities usually pay a premium over the agricultural value. The premium may cover the tax due on the disposal and the farmer may well have received the agricultural value of the land in his or her net proceeds after disposals. This means farmers are generally able to buy agricultural land of...

Written Answers — Department of Finance: Property Tax Assessments (14 Jul 2015)

Michael Noonan: I am advised that Local Property Tax (LPT) is a self-assessed tax and it is a matter for property owners to calculate the tax due based on their estimate of the market value of the property on the relevant valuation date, as required by Section 13 of the Finance (Local Property Tax) Act 2012 (as amended). The current valuation date is 1 May 2013 and any valuation declared on that date is...

Written Answers — Department of Finance: Tax Credits (14 Jul 2015)

Michael Noonan: The Deputy may be aware that the Department of Children and Youth Affairs are currently chairing an Inter-Departmental working group to assess future policy options for increasing the quality, accessibility and affordability of early years and school age care and education services. This group was established in February 2015 and is due to submit a report to Government shortly. In relation to...

Written Answers — Department of Finance: Mortgage Data (14 Jul 2015)

Michael Noonan: According to the Central Bank's Statistical Release of 4 June 2015, at the end of March 2015, non-bank entities accounted for 5.1 per cent of all outstanding mortgage loans (6.3 per cent in value terms). The Release noted that non-bank lenders hold almost 46,000 mortgage accounts for principal dwelling houses (PDH) and buy-to-let (BTL) combined. The Central Bank informed me...