Results 13,781-13,800 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: In general, ex gratia payments solely. It would not apply to the lump sums on a defined benefit scheme such as those public servants and others would have.

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

Michael Noonan: One may get the occasional situation other than in the private sector where a settlement would involve an ex gratia payment but, generally, it applies to the private sector.

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. 6: In page 9, to delete lines 10 and 11 and substitute the following:" 'qualifying contractor' means a contractor who—(a) complies with the obligations referred to in section 530G or 530H, as the case may be, or (b) in the case of a contractor who is not a subcontractor to whom Chapter 2 of Part 18 applies, complies with the obligations referred to in paragraph...

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 can give the committee a short note on all of them. Amendment No. 6 is a straightforward amendment which clarifies that a contractor does not have to be within the Revenue contracts tax regime in order to carry out works under the incentive. It also clarifies a contractor's obligations in terms of qualifying under the incentive. Amendment No. 8 is simply to improve the readability of...

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 intention is that the scheme would end at the end of 2015 but we are leaving a period of tolerance for work to be completed, the test being that planning permission will be granted before the end of 2015, and then there is a period up to March 2016 to allow work under the planning permission to be completed. It is a concession rather than a restriction.

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 Revenue will have to adjudicate on the margins of this. They will have to adjudicate on the time period as well as on the eligibility of the work. The test being put in is that planning permission must be granted prior to the end of 2015 and then work can be carried out up to 31 March 2016. We needed some cut-off point. We are using the cut-off point as the date that planning...

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. 5: In page 8, line 22, to delete “section 598A.”.” and substitute the following:“section 598A. (11) Subsection (9) shall not apply to a loan made after 15 October 2013 which is applied in paying off another loan to an individual used to defray money applied under paragraph (a), (b) or (c) of subsection (1), provided-- (a) the loan does not...

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 Deputy's amendments have been ruled out of order and I do not have the decision on what is in or out of order. That is in line with the rules of debate for finance Bills and that has been the position for as long as I have been here and longer. Even if the Deputy's amendments were in order I could not accept them. The time period proposed in the Finance Bill to phase out the relief is...

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

Michael Noonan: Are the amendments in order or are they not? They are not.

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

Michael Noonan: According to the Revenue Commissioners' annual report on the restriction for the tax year 2011, 29 individuals who availed of this relief were affected by the restriction. The amount of relief used by these individuals was €314,426; in 2010, 38 individuals were affected, using €764,550. It is a judgment as to what additional imposition can be placed on individuals. The most...

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 Revenue Commissioners' annual report for 2011 indicates that 29 individuals were affected.

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

Michael Noonan: There is a higher earner restriction on this as well, so the maximum relief that can be claimed is €80,000. We are not making it easier for these people. We are abolishing an allowance which they have. That is the purpose of this measure. The Deputy is twisting it around as if we were giving some kind of new relief to these people but we are not, we are abolishing it for the...

Written Answers — Department of Finance: EU-IMF Programme of Support (26 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 147 and 171 together. As the Deputy will be aware, the Taoiseach mentioned in this House that he had held discussions with Chancellor Merkel. Germany is keen to help and specifically to find ways to reinforce Ireland’s economic recovery by improving funding mechanisms for the real economy, including access to finance for Irish SMEs. The German...

Written Answers — Department of Finance: Property Taxation Collection (26 Nov 2013)

Michael Noonan: I am advised by Revenue that Section 128 of the Finance Local Property Tax (LPT) Act 2012 (as amended) provides that outstanding LPT Returns and liabilities will be taken into account for tax clearance purposes. I am also advised by Revenue that if a person is the owner of a relevant residential property on the ‘liability date’, which is 1 May for 2013, then he/she is liable to...

Written Answers — Department of Finance: Departmental Banking (26 Nov 2013)

Michael Noonan: In response to the Deputy’s question neither my Department or bodies under the aegis of my Department provide services to the public.

Written Answers — Department of Finance: IBRC Mortgage Loan Book (26 Nov 2013)

Michael Noonan: I have been advised by the Special Liquidators that all Borrowers can re-finance their borrowings with other lending institutions however there will be no write down of the debt outstanding. The Special Liquidators have corresponded with all IBRC borrowers providing them with an opportunity to make written representations on the method of disposal of their loans and the criteria for...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (26 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 151, 153, 154 and 168 together. I am advised that the contractual terms and conditions of customer mortgages and other borrowings of IBRC will not change as a result of the appointment of the Special Liquidators or the ultimate sale of the obligations to a third party. The Special Liquidators have confirmed that all Borrowers are permitted to buy-out their...

Written Answers — Department of Finance: Tax Collection (26 Nov 2013)

Michael Noonan: I am advised by Revenue that the execution of warrants by Sheriffs in respect of tax debts is specifically provided for in Section 962 of the Taxes Consolidation Act, 1997, as amended. I am further advised that Sheriffs are Officers of the Court, holding office under Section 12 of the Court Officers Act, 1945. Their debt collection activities, including seizure procedures, are generally...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (26 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 155 and 167 together. I have been informed that the Special Liquidators have corresponded with all IBRC borrowers providing them with an opportunity to make written representations on the method of disposal of their loans and the criteria for determining who may bid for loan assets. Consideration was given to Borrower representations and the Special...

Written Answers — Department of Finance: IBRC Loans (26 Nov 2013)

Michael Noonan: The Special Liquidators are obliged to ensure that the valuation of all IBRC assets is completed by 30 November 2013 and that the sale of all IBRC assets is agreed or completed by no later than 31 December 2013 or as soon as practicable thereafter. The valuation of IBRC assets will not be published as it is commercially sensitive financial information which could potentially have a...