Results 9,881-9,900 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Cost (21 Oct 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the yield in terms of reduced pension tax relief from a reduction in the marginal rate of tax from 41% to 40% is tentatively estimated to be €17 million in a full year.

Written Answers — Department of Finance: Tax Reliefs Application (21 Oct 2014)

Michael Noonan: First-time buyers will not be required to open a designated account for the purpose of availing of this relief. On the conveyance of a relevant property first-time buyers will be entitled to claim a refund of DIRT paid in the previous 48 months in respect of savings used to purchase that property. DIRT will be refunded in respect of savings up to a maximum of 20% of the purchase price of...

Written Answers — Department of Finance: Departmental Staff Redeployment (21 Oct 2014)

Michael Noonan: I wish to advise the Deputy that my Department does not have an office in County Mayo and that no civil servants in my Department have advised of a preference to transfer to County Mayo nor have any staff from my Department transferred to County Mayo since 2011.

European Stability Mechanism (Amendment) Bill 2014: Report Stage (16 Oct 2014)

Michael Noonan: I thank the Deputies for their contributions. I remind Deputy Doherty that I acknowledged the statistical correction by the CSO on GDP figures at least twice when I spoke on the budget on Tuesday. I spoke about the contribution that correction made to reducing our debt to GDP ratio. The Deputy is exaggerating when he attributes the correction to criminal activities in the economy. The...

European Stability Mechanism (Amendment) Bill 2014: Report Stage (16 Oct 2014)

Michael Noonan: I welcome Deputy Paul Murphy to the House. I do not know whether he has contributed already, but I was interested in his remarks this morning. I hope during his time here he will have the job satisfaction necessary for all Deputies to keep up their morale. I do not propose to accept the amendment tabled by Deputy Doherty. It bears a very strong resemblance to one he tabled on Committee...

European Stability Mechanism (Amendment) Bill 2014: Order for Report Stage (16 Oct 2014)

Michael Noonan: I move: "That Report Stage be taken now."

Written Answers — Department of Finance: Water Charges Exemptions (16 Oct 2014)

Michael Noonan: I am advised by the Revenue Commissioners that while there is no specific exemption from Local Property Tax (LPT) for a household that cares full time for one or more disabled persons, a residential property occupied by an individual who is disabled may qualify for a reduction in the market value of the property for LPT purposes. Additionally, where a residential property is occupied by an...

Written Answers — Department of Finance: Property Taxation Rate (16 Oct 2014)

Michael Noonan: The Government decided that a liability to the Local Property Tax (LPT) should apply to all owners of residential property with a limited number of exemptions.  Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption. A requirement to pay management fees is not relevant in determining liability to the LPT. ...

Written Answers — Department of Finance: Licensed Moneylenders (16 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 61 and 80 together. Under the current legislative requirements, moneylenders must provide a schedule of repayments both prior to and during the credit agreement. Each licensed moneylender is also required to display a copy of its licence in its business premises. The licence contains a schedule of each product which the moneylender is entitled to offer,...

Written Answers — Department of Finance: Bank Codes of Conduct (16 Oct 2014)

Michael Noonan: As the Deputy will be aware the Relationship Frameworks we have in place provide that the State will not intervene in the day-to-day operations of the State supported banks or their management decisions. Moreover, I have been informed that due to data protection rules and customer confidentiality the banks are not in a position to discuss details of individual customer circumstances.

Written Answers — Department of Finance: Banking Sector (16 Oct 2014)

Michael Noonan: As the Deputy will be aware the coupon due on the AIB preference shares is payable in the month of May each year.  Under the preference share agreement it is a matter for the Board of the bank to decide on whether this payment is made in the form of cash or shares.   When taking this decision the Board must review the financial position of the bank to ensure that the...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (16 Oct 2014)

Michael Noonan: As the Deputy will be aware, my Department carried out a review of the Employment and Investment Incentive (EII) and Seed Capital Scheme (SCS) in advance of this year's Budget. This scheme provides income tax relief for risk capital investments in a broad range of SMEs. Part of the review of the incentive included a public consultation process. A report on this review was published on...

Written Answers — Department of Finance: Tax Code (16 Oct 2014)

Michael Noonan: The rate of CGT is 33% and has been increased four times since 2008 when it stood at 20%. These rate increases were necessary to protect the yield from CGT in the context of the rebalancing of the public finances. In the circumstances, increases in the taxation of capital were considered preferable from the point of view of the impact on the economy as compared to an increase in employment...

Written Answers — Department of Finance: Banking Sector (16 Oct 2014)

Michael Noonan: The Central Bank of Ireland published a Consultation paper on 7 October 2014 which includes proposals for new macro-prudential measures to enhance the resilience of the banking sector and households to housing market developments. I understand that the consultation paper proposes a number of measures, one of which is to require lenders to restrict new lending for primary dwelling...

Written Answers — Department of Finance: Pensions Levy (16 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 67, 68 and 73 together. The position in this matter is that I announced in my Budget 2014 speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 would be abolished after this year. I did, however, introduce an additional levy on pension fund assets at a rate of 0.15% for 2014 and 2015. I did this to continue to help fund the...

Written Answers — Department of Finance: Mortgage Repayments (16 Oct 2014)

Michael Noonan: Neither I nor the Central Bank has a statutory role in relation to the issue raised by the Deputy and the decision on whether and when to pay out on a policy depends on the specific contract. However I have been advised by Insurance Ireland that in accordance with policy conditions, insurers would usually be unable to make a payment on a policy until the cause of death is confirmed. I...

Written Answers — Department of Finance: Universal Social Charge Payments (16 Oct 2014)

Michael Noonan: The Universal Social Charge (USC) was introduced in Budget 2011 to replace the Income Levy and the Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit.  It is applied at a low rate on a wide base, and is a more sustainable charge than those it replaced.  It was designed and incorporated in to the...

Written Answers — Department of Finance: VAT Rate Application (16 Oct 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the approximate annual yield from VAT on solid fuels from 2000 to 2013 is as set out below.  Please note the 2014 figures are not yet available. Year Estimated VAT Yield Applicable VAT Rate 2000 €13m 12.5% 2001 €28m 12.5% 2002 €23m 12.5% 2003 €23m 13.5% 2004 €39m 13.5% 2005 €24m 13.5% 2006...

Written Answers — Department of Finance: Carbon Tax Collection (16 Oct 2014)

Michael Noonan: The carbon tax rates that apply per tonne of solid fuel, based upon a charge of €20 per tonne of CO2emitted on combustion of the fuel, are set out in the following table. Description of Solid Fuel Rate of Tax Coal Peat: Peat briquettes Milled peat Other peat €52.67 per tonne - €36.67 per tonne €17.99 per tonne €27.25 per tonne...

Written Answers — Department of Finance: VAT Rate Application (16 Oct 2014)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law, with which Irish VAT law must comply. EU VAT exemptions are set out in Articles 132 and 135 of the EU VAT Directive and do not cater for the supply of the personal protective equipment, as mentioned by the Deputy.  Furthermore, it is not possible under the VAT Directive to apply a zero or reduced VAT...