Results 13,841-13,860 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Fuel Laundering (21 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that on 23 August 2013 their officers detected marked gas oil in the relevant vehicle. The Commissioners note that the notification of the transfer of ownership of the vehicle with effect from 20 August 2013 was not submitted to the Department of Transport until 7 October 2013. The Commissioners are satisfied that an offence under Mineral Oil Tax...

Written Answers — Department of Finance: Tax Code (21 Nov 2013)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. I am informed by the Revenue Commissioners that for the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the...

Written Answers — Department of Finance: Enterprise Support Schemes (21 Nov 2013)

Michael Noonan: In the recent Budget I announced the Start Your Own Business initiative, which provides an exemption from Income Tax for individuals who have been long-term unemployed and start a new, un-incorporated business between 1 January 2014 and 31 December 2016. Legislation is currently proceeding through the Oireachtas to provide for the budget measures. As the scheme has not yet commenced, there...

Written Answers — Department of Finance: Universal Social Charge Exemptions (21 Nov 2013)

Michael Noonan: Deposit interest earned by an Irish tax resident individual in a financial institution in Northern Ireland such as a bank, building society or credit union is exempt from the USC, as is deposit interest earned from similar institutions located in the State.

Written Answers — Department of Finance: Mortgage Interest Relief Eligibility (21 Nov 2013)

Michael Noonan: The position is, as I stated on many occasions in this House, in order to qualify for tax relief at source in respect of mortgage interest, a loan must have been drawn down and used in the purchase, repair or development of a principal private residence on or before 31 December 2012 and will be fully abolished from 2018. This decision was announced in Budget 2011 and introduced in Finance...

Written Answers — Department of Finance: Property Taxation Assessments (21 Nov 2013)

Michael Noonan: In accordance with the Finance (Local Property Tax) Act 2012 (as amended), liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which was 1 May 2013 for 2013 and for subsequent years, 1 November in the preceding year. As I informed the House previously in my replies to Questions Nos. [49518/13] and [49556/13] on 19 November...

Written Answers — Department of Finance: Exchequer Returns Issues (21 Nov 2013)

Michael Noonan: The proceeds of all borrowings by the Exchequer, including borrowing under the EU/IMF programme, as well as tax revenues, non-tax revenues and other receipts, are lodged to the Exchequer account at the Central Bank of Ireland to fund on-going Government expenditure. There are constant flows into and out of the Exchequer account and all moneys within it are fungible. The Government must...

Written Answers — Department of Finance: Irish Fiscal Advisory Council Reports (21 Nov 2013)

Michael Noonan: I assume that the Deputy is asking me to set out possible actions or recommendations made by the Fiscal Council since December 2012 that were not implemented by me or my Department. As the Deputy may be aware, the Irish Fiscal Advisory Council was established on an interim basis in July 2011 and on a statutory basis in December 2012 under the Fiscal Responsibility Act 2012. The Act was...

Written Answers — Department of Finance: Property Taxation Administration (21 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 49 and 50 together. I am advised by the Revenue Commissioners that letters were issued in October 2013 to over 980,000 property owners who paid their 2013 LPT by lump sum (that is, by debit or credit card, cash, cheque, postal order or single debit authority) or by way of regular cash payments. These owners were requested to decide how they wished to pay...

Written Answers — Department of Finance: Property Taxation Collection (21 Nov 2013)

Michael Noonan: I am advised by Revenue that customers who are registered for the Revenue Online Service (ROS) were issued with both their 2013 Local Property Tax (LPT) Return and 2014 Payment Notification via their ROS inboxes. Revenue has confirmed to me that the person in question was issued with his 2014 Payment Notification on 23 October 2013 through ROS. The notification, which can still be accessed...

Written Answers — Department of Finance: Property Taxation Application (21 Nov 2013)

Michael Noonan: For Local Property Tax (LPT) purposes a residential property is defined as any building or structure (or part of a building) which is used as, or is suitable for use as, a dwelling. I am advised by the Revenue Commissioners that property owners should take account of the structure of the building; including whether the property has a roof, windows and doors, sanitary facilities, services...

Written Answers — Department of Finance: Appointments to State Boards (21 Nov 2013)

Michael Noonan: The information requested by the Deputy is contained in the following tables : The Financial Services Ombudsman Council Name of appointee/Date of appointment or reappointment Details Mr Dermott Jewell (Chairman) Members Mr Paddy Leydon Frank Wynn Ms Caitriona Ní Charra Mr Tony Kerr Mr Michael Connolly Ms Elizabeth Walsh All were appointed or re-appointed on 29...

Written Answers — Department of Finance: National Treasury Management Agency Bond Issues (21 Nov 2013)

Michael Noonan: The National Treasury Management Agency (NTMA) issued eight new Floating Rate Treasury Bonds to the Central Bank of Ireland (CBI) on 8 February 2013 to replace the Promissory Notes previously held by IBRC. The bonds have maturities ranging from 25 to 40 years and pay interest every six months – in mid-June and in mid-December – based on the six-month Euribor interest rate...

Written Answers — Department of Finance: Government Bond Issues (21 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 55 and 57 together. The Central Bank has indicated that the portfolio of Government bonds now held by the Bank following the liquidation of IBRC will be sold as soon as possible, provided conditions of financial stability permit. The Bank has, however, undertaken that a minimum amount of bonds will be sold in accordance with the following schedule: to end...

Written Answers — Department of Finance: Government Bond Issues (21 Nov 2013)

Michael Noonan: Deputies will recall that the IBRC Promissory Notes were replaced with a portfolio of Irish Government bonds which consists of three tranches of €2 billion each maturing after 25, 28 and 30 years, three tranches of €3 billion each maturing after 32, 34 and 36 years and two tranches of €5 billion each maturing after 38 and 40 years. Under the original Promissory Note...

Written Answers — Department of Finance: EU-IMF Programme of Support Issues (21 Nov 2013)

Michael Noonan: The Governing Council of the ECB made a decision to establish Outright Monetary Transaction (OMT) on 2 August 2012, and issued a press statement on 6 September 2012 which outlined its technical features. According to this the purpose of OMT is: “Safeguarding an appropriate monetary policy transmission and the singleness of the monetary policy”. It is therefore, aimed at...

Written Answers — Department of Finance: Credit Institutions Resolution Fund (21 Nov 2013)

Michael Noonan: The Government put €250 million into the Credit Institutions Resolution Fund which was set up under the Central Bank and Credit Institutions (Resolution) Act 2011. The Act provides that payments may be made from the Fund for the resolution of financial instability in, or an imminent serious threat to the financial stability of, an authorised credit institution. Under Section 12(2) of...

Written Answers — Department of Finance: Deposit Guarantee Scheme (21 Nov 2013)

Michael Noonan: The Deposit Guarantee Scheme - DGS - was set up by the Government and is administered by the Central Bank of Ireland. The DGS guarantees eligible deposits up to €100,000 per person in any bank, building society or credit union. Total deposits held in credit unions amount to €11.6 billion as reported by credit unions as at 30 September 2013. The Central Bank advises that it is...

Written Answers — Department of Finance: Deposit Guarantee Scheme (21 Nov 2013)

Michael Noonan: The Central Bank of Ireland is responsible for the operation of the Deposit Protection (Guarantee) Scheme (DGS), which covers licensed credit institutions operating in the State. Each credit institution covered by the DGS is required to maintain a balance in the Deposit Protection Account (DPA) equivalent to 0.2% of their total deposits in order to fund the DGS. I am advised by the Central...

Government Decision on Exiting Programme of Financial Support: Motion (20 Nov 2013)

Michael Noonan: Yes, there will be a vote on the motion.