Results 13,701-13,720 of 27,019 for speaker:Michael Noonan

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: For the full year it will be €127 million.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: Yes.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: Before the Finance Act the liability is estimated at €1 billion on the tax relief. It is moving sums. The closest correlation is between being employed or unemployed for accessing private health insurance. The fact that today’s CSO figures show 58,000 extra people net in jobs over the 12-month period would suggest that the insurance market will potentially go up.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: The websites of the principal ones never give any credit to the taxpayers. They put up the premium as if there was no contribution, so the taxpayer paid €200 of the €1,000 premium on a 20% basis. If €800 goes to €1,000 and the extra payment is 20% of €200, that comes to €40, which 5%. That increases as the cost goes up. As the tax relief is capped...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: The credit is 20%. It would be 20% of whatever the percentage increase is. If the premium went up by 10% it would be 20% of ten which is 2%.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: No. Across the insurance sector there are hundreds of policies and they all have variations and are priced differently.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: This is a corrective measure and will not be an annual event.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: My budget day speech has been misquoted and misconstrued. What I said about the measure was that this "will restrict the exposure of the Exchequer in relation to premiums paid for gold-plated medical insurance policies, while not affecting the majority of individuals who avail of more standard levels of medical cover". That is what I said and that is where the big tax take is. Deputy Boyd...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: I move amendment No. 45: In page 20, to delete lines 16 to 20 and substitute the following:“(a) by inserting the following definition:“ ‘child’ means an individual under the age of 18 years or, if over the age of 18 years and under the age of 23 years, who is receiving full-time education and in respect of whom the payment under a relevant contract has been reduced...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: I am seeking to confine the tax credit to one payment per family where there is an eligible child. If the Chairman can suggest arguments to refine it further between now and Report Stage, will he please contact me? I am not trying to make any ideological point. I am trying to go further than the recommendation of the Commission on Taxation and I am trying to do it in as fair a way as possible.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: If they can be arranged and if the Revenue can cope with it. There is a context. A married couple with children or two partners living together with children are not eligible for any tax credit at present and we have to bring that into the debate as well in the interests of non-discrimination and fair play.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: This is an interesting debate as it touches on many social issues. As Deputy Boyd Barrett noted, these issues include the definition of a family in the modern age and the entire debate surrounding families. In debating this topic, we should be careful to provide a context for everything. In making comparisons of families, one must bear in mind that married or cohabiting couples living...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: Anybody on a FÁS course is automatically receiving crediting contributions; therefore, it does not need to be mentioned specifically in the text.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: We will have to check.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: This is one of the things we are trying to do for the long-term unemployed and I hope it will work. If one sees it in combination with what we discussed before the break, it makes sense. If a carpenter is long-term unemployed and has a friend or a brother who has another skill in the building industry, rather than seeking work from another contractor, they can decide to set up as small...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: We are aligning the definition of long-term unemployed with the Department of Social Protection's definition, which is 15 months. In practice, it regards somebody who has been unemployed for 12 months or longer as long-term unemployed. Bringing it lower than this figure would be to move in advance of the Department of Social Protection. I am not ideological in any of these matters but...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: A problem that has been pointed out to me is that the back-to-work enterprise allowance scheme allows an individual to keep a portion of his or her social welfare payment for two years and a person might make a claim under both the back-to-work enterprise allowance scheme and the start-your-own-business initiative. The 12 month eligibility period allows both claims to be made. Bringing it...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: I move amendment No. 30: In page 16, between lines 5 and 6, to insert the following:“ ‘basis period’, in relation to a year of assessment, means the period on the profit or gains of which income tax for the year of assessment is to be finally computed under the Income Tax Acts;”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: I move amendment No. 31: In page 16, line 12, to delete “1 January 2014” and substitute “25 October 2013”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael Noonan: I move amendment No. 34: In page 16, line 26, to delete “390 days” and substitute “312 days”.