Results 6,621-6,640 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: This question relates to the interest restriction applying to residential lettings, whereby the deductibility of interest in computing taxable rental income from residential property (insofar as it would otherwise be allowable) is limited to 75% of such interest. The restriction was introduced in the April 2009 supplementary budget in respect of all residential lettings as part of an urgent...

Written Answers — Department of Finance: Pensions Levy (7 Jul 2015)

Michael Noonan: It is not clear from the details supplied with the question what, in fact, the Deputy has in mind in her proposal for recovery of the pension levy to members of the pension scheme in question through the taxation system. It seems from the details provided that the Deputy is of the view that a reduction applied to a pension in payment from a pension scheme, on foot of a decision by the...

Written Answers — Department of Finance: Central Bank of Ireland Annual Reports (7 Jul 2015)

Michael Noonan: The Central Bank publishes the value of its gold and gold receivables in its annual report. The Central Bank Annual Report 2014 states the value of gold and gold receivables to be €190,979,000 as at 31 December 2014. The Annual Report also notes that gold and gold receivables consist of coin stocks held in the Central Bank of Ireland;...

Written Answers — Department of Finance: VAT Rate Application (7 Jul 2015)

Michael Noonan: The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. The measure was designed to boost tourism and create additional jobs in that sector. It is not the practice to comment on what measures may or may not be introduced in advance of the Budget.

Written Answers — Department of Finance: Student Support Schemes (7 Jul 2015)

Michael Noonan: The graduate entry programme provides undergraduate medical education of four years duration and has been developed to produce medical graduates with the ability to successfully undertake an internship and thereafter to gain full registration with the Medical Council. The programme is supported by a combination of student fees, State funding and other income.   While in this...

Written Answers — Department of Finance: Banking Sector (7 Jul 2015)

Michael Noonan: AIB is  well on the road to recovery and officials in my department are working with AIB on reconfiguring its capital structure and setting out a path for the bank to begin to return capital to the State. Given the scale of the State's investment - some €20.8 billion - and the different financial instruments this money is invested in, there are a range of options available...

Written Answers — Department of Finance: Mortgage Lending (7 Jul 2015)

Michael Noonan: The Central Bank of Ireland (Bank) has recently introduced new macro prudential measures for residential mortgage lending which apply certain loan to value and loan to income limitations on such lending. The key objective of these regulations is to increase the resilience of the banking and household sectors to the property market and to reduce the risk of bank...

Written Answers — Department of Finance: Pensions Levy (7 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 135 and 141 together. The original 0.6% stamp duty levy on pension fund assets ended last year. The additional levy of 0.15% which I introduced for 2014 and 2015, mainly to help continue to fund Jobs Initiative, will also end after this year. The position is that the equivalent value of all of the money raised from the stamp duty levy has been used to...

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: The Steering Group Report on a National Substance Misuse Strategy recommended a series of actions to deal with the harms caused by alcohol use and misuse, including the introduction of a social responsibility levy on the 'drinks industry' which the Report defined as some or all of those involved in the manufacturing, distribution and retailing of alcohol. The Deputy will be aware that the...

Written Answers — Department of Finance: Fuel Laundering (7 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 137 and 138 together. I am informed by the State Laboratory, who work closely with the Revenue Commissioners in the area of fuel fraud, that the State Laboratory uses a range of tests to establish whether a petrol or diesel sample meets required specifications and to check for fuel contamination. The exact suite of tests applied depends on the whether a...

Written Answers — Department of Finance: Currency Circulation (7 Jul 2015)

Michael Noonan: I can confirm that rounding will be to the nearest five cent, and will only apply to cash payments and not to electronic payments (such as by debit card) which will remain unrounded. Rounding will apply on a voluntary basis for both retailers and consumers. The rounding rules will not apply to amounts being paid in cash at banks and post offices, and will only apply at the point of sale for...

Written Answers — Department of Finance: Primary Medical Certificates Applications (7 Jul 2015)

Michael Noonan: I understand the individual concerned appealed the decision of the Health Service Executive to not award them a Primary Medical Certificate to the Disabled Drivers Medical Board of Appeal. I am informed by the Medical Board of Appeal that this appeal was not upheld.  A citizen can re-apply for a Primary Medical Certificate after six months if there is a...

Written Answers — Department of Finance: Central Bank of Ireland Expenditure (7 Jul 2015)

Michael Noonan: The following table outlines the payments made to Ernst and Young for the years 2011 to 2014. All figures are inclusive of VAT. These figures have been prepared by the Central Bank on an accruals basis, based on when the costs are incurred and not on when the costs are paid. Fiscal Year Amount 2011 €2 - €2.5m 2012 €2 - €2.5m 2013 €9.5 - €10m...

Written Answers — Department of Finance: IBRC Operations (7 Jul 2015)

Michael Noonan: As the Deputy will be aware the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit term of reference dealing with information received by the Department of Finance: "in relation to each transaction under investigation, whether the Minister for Finance or his Department was kept informed where appropriate in respect of the...

Written Answers — Department of Finance: Insurance Industry (7 Jul 2015)

Michael Noonan: Setanta Insurance Company Limited is a Maltese incorporated company. Setanta was formally placed into liquidation by the Maltese Financial Services Authority on 30th April 2014 when a liquidator was appointed under the provisions of the Maltese Companies Acts 1995. The liquidation is proceeding according to Maltese law.  The liquidation of an insurance company is a...

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. For the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary),...

Written Answers — Department of Finance: Mortgage Debt (7 Jul 2015)

Michael Noonan: I have been informed that for reasons of client confidentiality AIB/EBS does not comment on individual cases. However the institution is satisfied that the referenced case is being dealt with in a manner consistent with the treatment strategy for customers in mortgage difficulty. I appreciate the difficult position many people find themselves in with respect to mortgage...

Written Answers — Department of Finance: Mortgage Debt (7 Jul 2015)

Michael Noonan: I appreciate the difficult position many people find themselves in with respect to mortgage arrears but it would not be appropriate for me to intervene directly in discussions between any financial institution and a third party. It is advisable for any individual dealing with debt to seek financial and legal advice on their specific situation and on the alternative courses of remedial action...

Written Answers — Department of Finance: Mortgage Debt (7 Jul 2015)

Michael Noonan: I have been informed that the institution referred to is not refusing to deal with customers in financial difficulties. Rather in circumstances where borrowers have a difficulty it is working with those customers to implement a sustainable mortgage restructure that allows the customers to stay in their home. The institution also has policies and processes in place to ensure...

Written Answers — Department of Finance: Credit Union Fund (7 Jul 2015)

Michael Noonan: The Credit Union and Co-operation with Overseas Regulators Act 2012 provides the statutory basis for the restructuring of credit unions and placed the Credit Union Restructuring Board - ReBo - on a statutory footing from 1 January 2013. ReBo is currently in the process of overseeing and facilitating restructuring on a voluntary, incentivised and time-bound basis, as recommended by the...