Results 8,681-8,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Credits (27 Jan 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned has recently written to them on this matter. Based on the information provided in this communication, an amended Tax Credit Certificate including a Single Parent Child Carer Credit as claimed, will issue shortly.

Written Answers — Department of Finance: Tax Credits (27 Jan 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the 2015 tax credits of the person concerned have been reduced to collect underpayments of tax arising in prior years.  The person concerned was advised of the amounts to be collected in the PAYE Balancing Statements (P21s) that issued to him on 1 April 2011 and 9 May 2014. Taking into account these reductions and based on the information...

Written Answers — Department of Finance: Tax Collection (27 Jan 2015)

Michael Noonan: Under Section 257 of the Taxes Consolidation Act 1997 all deposit takers are obliged to deduct Deposit Interest Retention Tax (DIRT) from payments of interest made to an account unless the account qualifies as an exempt account. There is no specific exemption in the case of interest paid on deposit accounts held by children. The wider tax code does not provide for an exemption from tax for...

Written Answers — Department of Finance: Tax Collection (27 Jan 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that according to their records, the person concerned ceased employment in August 2014 and is not currently employed. The Revenue Commissioners are writing to the person concerned to confirm the position and will arrange for a tax credit certificate to be issued, if required.

Written Answers — Department of Finance: State Banking Sector (27 Jan 2015)

Michael Noonan: As the Deputy will be aware the Irish banking system is now in a much stronger position than it was even a year ago. Profits are recovering, balance sheets have been restructured and we have started the process of returning cash to the taxpayer following the huge investments that were made over the 2009-11 period.  Much of the banking-related work in the Department of...

Written Answers — Department of Finance: Mortgage Lending (27 Jan 2015)

Michael Noonan: I am informed by the Central Bank that the proposed macro prudential regulations in relation to residential mortgage lending will not apply to local authority mortgages as they are not provided by  "regulated financial service providers" within the meaning of Section 2 of the Central Bank Act 1942.

Written Answers — Department of Finance: Pension Provisions (27 Jan 2015)

Michael Noonan: Tax legislation provides for a limit or ceiling on the total capital value of tax-relieved pension benefits that an individual can draw down in their lifetime from all of their supplementary pension arrangements. This is known as the Standard Fund Threshold or SFT and was introduced on 7 December 2005 and amended since (most recently in Finance (No 2) Act 2013 which, among other things,...

Topical Issue Debate: Bank Branch Closures (22 Jan 2015)

Michael Noonan: I again thank the Deputy for raising this issue. As with other banks on the island, Ulster Bank experienced insolvency problems. Its parent, the Royal Bank of Scotland Group, is under the regulatory control of the Bank of England rather than the Irish banking system. The bank had its problems and at one point some years ago, it looked as if it would pull out of Ireland completely. Such a...

Topical Issue Debate: Bank Branch Closures (22 Jan 2015)

Michael Noonan: I thank the Deputy for raising this important topic. I am aware of the concerns of Deputy Cowen and other Deputies as Ulster Bank moves to implement the closure of a number of branches and sub offices around the country. Indeed, this was the subject of a previous topical issues debate last summer when the bank announced these closures. A number of representatives have been in contact with...

Topical Issue Debate: Disabled Drivers and Passengers Scheme (22 Jan 2015)

Michael Noonan: I thank the Deputy for raising this matter. As he will be aware, the primary medical certificate is required to access the disabled drivers and disabled passengers scheme. An applicant must satisfy one of six medical criteria to receive a primary medical certificate. I will set out a brief description of the scheme, as it stands. It provides relief from vehicle registration tax and VAT...

Topical Issue Debate: Disabled Drivers and Passengers Scheme (22 Jan 2015)

Michael Noonan: As I said, it was only with difficulty and pressure from home and abroad that I was able to avoid reducing the benefits during the bad times we had come through. The figures I gave were for the numbers who had benefited from the scheme in 2014. I cannot give the Deputy a commitment that the the scheme will be reviewed. However, we receive submissions from the organisations that have been...

Seanad: Central Bank (Amendment) Bill 2014: Committee and Remaining Stages (22 Jan 2015)

Michael Noonan: Under Article 2.1 of the Council Decision 98/415/EC I am required to consult the ECB formally on any new legislative provisions relating to the Central Bank. The ECB has made the point that the scope of section 33AK(6) of the Central Bank Act 1942 should be broadened to comply with Article 37.2 of the Statute of the European System of Central Banks, known as the ESCB. At present, section...

Seanad: Central Bank (Amendment) Bill 2014: Committee and Remaining Stages (22 Jan 2015)

Michael Noonan: I thank the Senator for his contribution. Section 33AK prohibits the Central Bank from disclosing confidential information if such disclosure is prohibited by its own treaty, the ESCB statute or the supervisory EU legal Acts. Subject to this prohibition, 33AK provides the disclosure of confidential information, via any system or gateways, so any form of information is covered in the Bill as...

Seanad: Central Bank (Amendment) Bill 2014: Committee and Remaining Stages (22 Jan 2015)

Michael Noonan: I will read into the record the speaking note with which I have been provided, which places the Senator's amendment in context. The Central Bank (Amendment) Bill was published in direct response to an issue that was raised by the Joint Committee of Inquiry into the Banking Crisis in its relevant proposal and the subsequent recommendations of the Committees on Procedure and Privileges of...

Seanad: Central Bank (Amendment) Bill 2014: Second Stage (22 Jan 2015)

Michael Noonan: I thank all Senators who contributed and, in particular, thank them for their support for the Bill. It is good to come to the Seanad and have unanimous support across the parties and the Independents, for which I thank them. A number of issues were raised. Senators Wilson and Cummins raised the participation of the European Central Bank. The Taoiseach had a conversation about this with...

Seanad: Central Bank (Amendment) Bill 2014: Second Stage (22 Jan 2015)

Michael Noonan: I thank the Members for the opportunity to discuss the Central Bank (Amendment) Bill 2014 today. The Government is bringing forward this Bill at the request of the Joint Committee of Inquiry into the Banking Crisis. The Bill includes two main provisions. First, it amends section 33AK of the Central Bank Act 1942 to allow the Central Bank to disclose confidential information to the joint...

Written Answers — Department of Finance: Tax Code (22 Jan 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that as the person concerned paid no tax for the first two pay days in 2015, the employer deducted the tax payable to date for 2015 from the person's pay on the third pay day in 2015. The amount of tax payable was based on the tax credits as notified to the employer on 9 January 2015. Since that date the taxpayer has requested that his tax...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (22 Jan 2015)

Michael Noonan: As the Deputy is aware, a holder of a Primary Medical Certificate may access the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme. I am advised by the Revenue Commissioners that the table below indicates the number of claims for VRT and VAT relief and excise duty relief in respect of drivers, passengers and organisations and the cost to the...

Written Answers — Department of Finance: Banking Sector Recruitment (22 Jan 2015)

Michael Noonan: Following the announcement of the resignation of Mr. David Duffy on Monday, the attention and focus of AIB must now turn to recruiting a new Chief Executive Officer. With that in mind, I agreed  at a meeting with the Bank's Chairman Mr. Pym yesterday, that it is in AIB's best interest that the process to recruit a new Chief Executive would begin without delay with a view to having...

Written Answers — Department of Finance: Banking Sector Remuneration (22 Jan 2015)

Michael Noonan: As the Deputy will be aware, this Government's policy with respect to banking remuneration has been in place since mid-2011. In summary, remuneration is capped at €500,000 (excluding normal pension entitlements) and variable rate pay such as bonuses are not permitted. AIB has not requested a review of the salary cap or bonus restrictions.