Results 7,661-7,680 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Availability (22 Apr 2015)

Michael Noonan: I am advised by the Revenue Commissioners that a prerequisite to obtaining Capital Gains Tax retirement relief is that the individual who is disposing of land must have owned that land and used it for farming purposes for the period of 10 years prior to the disposal. In the case referred to by the Deputy, the statement that the spouse owns part of the family land and is actively involved...

Written Answers — Department of Finance: Disabled Drivers Grant Applications (21 Apr 2015)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, assistance with fuel costs, and an exemption from Motor Tax. To qualify for the Scheme, an applicant must have a permanent and severe physical...

Written Answers — Department of Finance: Tax Compliance (21 Apr 2015)

Michael Noonan: My officials are continuing to engage fully with the ongoing state aid investigation, and we have comprehensively addressed the Commission's concerns making it clear that the appropriate amount of Irish tax was charged in accordance with the relevant legislation. I am still firmly of the view that there was no breach of State aid rules in this case and we will continue to defend all aspects...

Written Answers — Department of Finance: Mortgage Interest Rates (21 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 292 and 302 together. At the outset, I would like to confirm to the Deputy that the lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. I, as Minister for Finance, have no statutory role in relation to regulated financial institutions setting interest rates. The...

Written Answers — Department of Finance: Tax Reliefs Application (21 Apr 2015)

Michael Noonan: Section 469 of the Taxes Consolidation Act 1997 provides relief for health expenses incurred by an individual on his own behalf or on behalf of others.  In this regard health expenses are defined as expenses incurred in the provision of health care. Health care means prevention, diagnosis, alleviation or treatment of an ailment, injury, defect or disability, but specifically excludes...

Written Answers — Department of Finance: Tax Code (21 Apr 2015)

Michael Noonan: I am advised by the Revenue Commissioners that having regard to taxpayer confidentiality, they are not in a position to comment on the tax affairs of a third party. It is a matter for any such party to make direct contact with Revenue if they have an issue of concern.

Written Answers — Department of Finance: Mortgage Arrears Proposals (21 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 295 to 297, inclusive, together. The Capital Requirements Regulation and Directive IV (CRR/CRD IV) introduced a number of new macro-prudential instruments and powers. The Regulation was directly applicable in Member States when the legislation entered into force on 1 January 2014, and the CRD IV Directive was transposed into Irish law by the Minister for...

Written Answers — Department of Finance: Tax Credits (21 Apr 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that although all of the person's tax credits and standard rate band were allocated against his employment, further tax credits and standard rate band, to which the person was not entitled, were also allocated against the person's pension.  These were withdrawn in March 2015 resulting in the additional tax deduction.   ...

Written Answers — Department of Finance: Mortgage Arrears Rate (21 Apr 2015)

Michael Noonan: I am informed by the Central Bank of Ireland (CBI) that the requested breakdown in respect of PDH and BTL mortgage accounts on which no payment has been made for more than one year is unavailable. However, the CBI website contains data which shows the number of PDH and BTL accounts that are in arrears of more than 360 days.  It can be accessed at the following link,...

Written Answers — Department of Finance: Banking Operations (21 Apr 2015)

Michael Noonan: I have been informed by AIB that: - All disclosures in relation to AIB's loan portfolios are contained in the Risk Management section (pages 60138) of AIB's 2014 Annual Financial Report. - AIB staff who were authorised to sell Belfry products were not paid commission or other reward for this arrangement. - All fees charged by AIB in relation to the Belfry companies have been fully disclosed...

Written Answers — Department of Finance: Mortgage Interest Rates (21 Apr 2015)

Michael Noonan: The lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. I have no statutory role in relation to regulated financial institutions passing on the European Central Bank interest rate change or to the mortgage interest rates charged.  It is a commercial matter for each institution...

Written Answers — Department of Finance: Property Tax (21 Apr 2015)

Michael Noonan: I wish to advise the Deputy that, having made a commitment to examine the Local Property Tax (LPT) and any impacts on LPT liabilities as a result of property price movements, I have appointed former public servant  Dr. Don Thornhill to conduct a review to consider and make recommendations on the operation of the Local Property Tax.  In particular the Review will have...

Written Answers — Department of Finance: Consumer Credit Act Review (21 Apr 2015)

Michael Noonan: I am advised by the Central Bank of Ireland that the statutory powers to prosecute summarily or pursue a suspected contravention of Section 129(2) of the Consumer Credit Act 1995 under the Administrative Sanctions Procedure (governed by Part IIIC of the Central Bank Act 1942) are both discretionary powers, the use of which is considered on a case by case basis.  The Central Bank has...

Written Answers — Department of Finance: IBRC Staff (21 Apr 2015)

Michael Noonan: I have been advised that the senior official from my Department who was seconded to IBRC (who commenced his role in October 2012) did not raise any concerns relating to the person referred to in the question. I am further advised that the senior official from my Department who was seconded to IBRC was not involved in any discussions for or on behalf of IBRC in relation to...

Written Answers — Department of Finance: Tax Exemptions (21 Apr 2015)

Michael Noonan: For reasons of taxpayer confidentiality I cannot comment on the tax affairs of individual bodies. However, in order to avail of a charitable tax exemption, a body or trust must be established for charitable purposes only and must apply all of its income to charitable purposes. The Revenue Commissioners have procedures in place to ensure that a charitable tax exemption is only...

Written Answers — Department of Finance: IBRC Staff (21 Apr 2015)

Michael Noonan: Notwithstanding that officials from my Department had concerns regarding the quality of some decisions taken by IBRC prior to its liquidation, I am not aware of and there are no records which suggest that there were any concerns with the person referred to in the question or of any potential conflicts of interest that existed in his role in IBRC. Therefore, I am unable to comment further on...

Written Answers — Department of Finance: IBRC Operations (21 Apr 2015)

Michael Noonan: Following a review of the transaction concerning the company referred to in the question by officials in my Department on 11 June 2012, they were made aware by IBRC that 8 bids were received for the company referred to in the question. While there is evidence that certain bid amounts may have changed during the process, there is no record that officials in my Department were furnished with...

Written Answers — Department of Finance: NAMA Expenditure (21 Apr 2015)

Michael Noonan: In response to the Deputy's Parliamentary Question 81 of 2nd April 2015 (PQ 132827/15), NAMA provided a detailed aggregate breakdown of payments in excess of €100,000 to individual legal and portfolio management service providers. It is not appropriate in the context of Parliamentary Questions for NAMA to provide an invoice-by-invoice breakdown of incurred expenses, including for the...

Written Answers — Department of Finance: Tax Exemptions (21 Apr 2015)

Michael Noonan: I am advised by the Revenue Commissioners that paragraph 4(3) of Schedule 1 of the Value-Added Tax Consolidation Act 2010, in line with the EU VAT Directive, provides that children's and young people's education and school education provided by educational establishments recognised by the State and by other persons supplying education of a similar kind is exempt from VAT.  The exemption...

Written Answers — Department of Finance: Tax Code (21 Apr 2015)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit (OPFTC) has been replaced with the Single Person Child Carer Credit since 1 January 2014.   However, the new credit is more targeted in that it is, in the first instance, only available to the primary carer of the child. Given the difficult fiscal environment, it is essential to review all tax reliefs, credits and...