Results 9,761-9,780 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Eligibility (4 Nov 2014)

Michael Noonan: A  number of measures were announced on Budget day to improve the overall affordability of water charges. The objective of these supports is to assist households in the country who pay their Water bills. Following on from the announcement on Budget day, officials from my Department are working closely with their colleagues in the other relevant Departments and Agencies, in the...

Written Answers — Department of Finance: EU Budget Contribution (4 Nov 2014)

Michael Noonan: Ireland's contribution to the EU Budget is an obligation of EU membership and is a charge on the Central Fund under national legislation. The contribution formula for the EU Budget is comprised of Traditional Own Resources (customs duties), a VAT-based payment and a residual balancing component paid in accordance with each Member State's (MS) share of EU Gross National Income (GNI)....

Written Answers — Department of Finance: Banking Sector Staff (4 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 322 to 324, inclusive, together. As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters. Any staff who transfer under outsourcing arrangements transfer under the TUPE regulations. With regard to the number of staff...

Written Answers — Department of Finance: Mortgage Arrears Rate (4 Nov 2014)

Michael Noonan: I have informed this House previously that the Government has developed a comprehensive cross-Departmental strategy in response to the mortgage arrears issue in line with the main recommendations of the 2011 Keane Report. The implementation of this strategy is overseen at Government level by the Construction 2020, Housing, Planning and Mortgage Arrears sub-committee, which is chaired by...

Written Answers — Department of Finance: Budget Consultation Process (4 Nov 2014)

Michael Noonan: In conducting our Budget forecasts my officials use the latest international growth forecasts for key trading partners - the UK, US and euro area. For Budget 2015, the OECD Interim Economic Assessment, published on 15 September, was used.  The OECD forecasts for the euro area are based on the German economy growing by 1.5 per cent in 2014 and...

Written Answers — Department of Finance: Small and Medium Enterprises Debt (4 Nov 2014)

Michael Noonan: In June 2013, the Central Bank set quarterly institution-specific performance targets for covered banks to move distressed SME borrowers onto longer-term forbearance solutions.  The targets set reflect the banks' capacity, processes and systems.  The Central Bank has informed the officials in my Department that the banks have reported that they have met their required targets to...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Eligibility (4 Nov 2014)

Michael Noonan: As you are aware, the Home Renovation Incentive (HRI) came into operation on 25 October 2013 and will run until 31 December 2015.  The incentive provides tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. Qualifying expenditure is expenditure subject to...

Written Answers — Department of Finance: Corporation Tax Regime (4 Nov 2014)

Michael Noonan: I wish to advise the Deputy that approval of the EU Commission under State aid rules has not been sought for the corporation tax measures in Finance Bill 2014. Such approval is not required as the measures in the Bill, including those I announced in the Budget, involve modifications and enhancements to our general corporation tax regime which do not give rise to State aid. Where measures in...

Written Answers — Department of Finance: Mortgage Interest Relief Eligibility (4 Nov 2014)

Michael Noonan: Section 244 of the Taxes Consolidated Act 1997 provides for tax relief in respect of interest paid on qualifying loans taken out to purchase, repair or improve a property that is used as a sole or main residence. The relief, which is due to end in 2017, is available in respect of all qualifying home loans taken out between 1 January 2004 and 31 December 2012. Persons that purchased...

Written Answers — Department of Finance: EU Budget Contribution (4 Nov 2014)

Michael Noonan: Ireland's contribution to the EU Budget is an obligation of EU membership and is a charge on the Central Fund under national legislation. The contribution formula for the EU Budget is comprised of Traditional Own Resources (customs duties), a VAT-based payment and a residual balancing component paid in accordance with each Member State's share of EU Gross National Income (GNI)....

Written Answers — Department of Finance: Debt Relief (4 Nov 2014)

Michael Noonan: Ireland is recognised internationally for its contribution to the fight against global poverty and hunger and its leading role in making international aid more effective.  We have played a strong role in the development of an international consensus on the issue of debt cancellation for the least-developed countries. The IMF has in the past supported debt cancellation programs....

Written Answers — Department of Finance: Pensions Levy (4 Nov 2014)

Michael Noonan: This question appears to relate to the pension-related deduction which applies to the salaries or earnings of those employed in the public service. I am not responsible for the policy or administrative aspects of this deduction. The broad policy and administrative aspects are a matter for my colleague, Mr. Brendan Howlin TD, the Minister for Public Expenditure and Reform, while the specific...

Written Answers — Department of Finance: Economic Growth Rate (4 Nov 2014)

Michael Noonan: The first full-year estimates of GDP and GNP for 2013 were published in March of this year, along with estimates for previous years. The second estimate of 2013 GDP and GNP was released in July of this year and included revisions for 2013 and previous years. This was subsequently updated in September. I am advised by the CSO that the estimates subsequent to July include the...

Written Answers — Department of Finance: Defined Contribution Pension Funds (4 Nov 2014)

Michael Noonan: There are a number of alternative options available at retirement to individuals who have Defined Contribution pension funds (after taking their tax-free lump sum) other than the immediate purchase of a pension annuity.   These options include investing in an Approved Retirement Fund (ARF) where the funds can be drawn-down at the ARF owner's discretion subject to taxation or taking...

Written Answers — Department of Finance: Tax Exemptions (4 Nov 2014)

Michael Noonan: The Deputy will be aware that all aspects of the tax code are reviewed in the normal course of preparing the annual Budget and Finance Bill. As we begin to emerge from a prolonged economic downturn, the Government has chosen to utilise the limited fiscal space available to it in order to assist with job creation and economic growth. The income tax changes announced in the Budget...

Written Answers — Department of Finance: Illness Benefit Payments (4 Nov 2014)

Michael Noonan: I am informed by the Revenue Commissioners that in accordance with section 126 of the Taxes Consolidation Act 1997 the person concerned is chargeable to income tax in respect of the Illness Benefit paid to him by the Department of Social Protection. In the details supplied it is mentioned that the person concerned has not cashed his Illness Benefit cheques. This is a matter that he should...

Written Answers — Department of Finance: Tax Rebates (4 Nov 2014)

Michael Noonan: I introduced this scheme in the Finance Act 2013 in order to provide for a repayment to qualifying road haulage and bus operators of a part of the mineral oil tax paid on their purchases of auto-diesel for use in the course of business. As part of the scheme's risk control framework, provision was made for certain restrictions on the means by which the auto-diesel concerned may be purchased....

Written Answers — Department of Finance: Property Taxation Yield (4 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the cost of allowing 100% Local Property Tax (LPT) to be deducted as an expense by landlords would be €13m in year 1 and €25m in a full year. This cost is a tentative estimate and relates to one year's LPT (i.e. does not allow for any offset of previous year's LPT). As the Deputy is aware, the Thornhill Group, the...

Written Answers — Department of Finance: Tax Yield (4 Nov 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the amount of gross domestic rental income declared on income tax returns was €4.1bn for 2011 and €4.0bn for 2012 (returns for  tax year 2013 are not yet available). Deductions and reliefs in respect of losses, expenses and capital allowances are allowable from gross rental income and the taxable rental income for 2011 and...

Written Answers — Department of Finance: Savings Accounts Interest Rates (4 Nov 2014)

Michael Noonan: State Savings is the brand name used by the National Treasury Management Agency (NTMA) to describe the range of Government savings products offered by the NTMA to personal savers. All State Savings money form part of the sovereign debt of Ireland, the repayment of which is a direct, unconditional obligation of the State. The position is that it is the Government's objective to raise...