Results 18,821-18,840 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation (13 Dec 2012)

Michael Noonan: Subject to enactment of the Finance (Local Property Tax) Bill 2012, the valuation mechanism for determining the value of social housing units that are relevant residential properties whether in the control of a local authority or an approved housing body will be as for any other relevant residential property within the charge to the tax and will based on chargeable value as set out in the...

Written Answers — Department of Finance: Property Taxation (13 Dec 2012)

Michael Noonan: I am advised by the Revenue Commissioners, who will be responsible for the administration of the Local Property Tax, that, subject to enactment of the Finance (Local Property Tax) Bill 2012, guidelines will be published to enable liable persons to complete the property tax return and in particular to determine whether their property is an exempt property, including whether it qualifies for an...

Written Answers — Department of Finance: Tax Code (13 Dec 2012)

Michael Noonan: I propose to take Questions Nos. 63, 64, 65 and 66 together. The details requested by the Deputy in relation to double taxation treaties that are in effect are shown on the table. To date, Ireland has signed 68 double taxation agreements, of which 61 are in effect. Revisions of existing treaties The existing treaties with Canada (2003) and the United States (1997) replace earlier agreements...

Written Answers — Department of Finance: Tax Code (13 Dec 2012)

Michael Noonan: I am advised by the Revenue Commissioners, that in accordance with the provisions of Section 1095 (3) of the Taxes Consolidation Act, 1997 where a person who is in compliance with the obligations imposed on the person by the Acts in relation to: (a) the payment or remittance of any taxes, interest or penalties required to be paid or remitted under the Acts, and (b) the delivery of any...

Written Answers — Department of Finance: National Asset Management Agency (13 Dec 2012)

Michael Noonan: I propose to take Questions Nos. 68 and 69 together. NAMA advises that it has identified 3,879 residential properties controlled by its debtors and receivers as being available for social housing provision. This represents a very substantial contribution by NAMA in the context of the limited number of available residential properties in Ireland controlled by its debtors and receivers and...

Written Answers — Department of Finance: Bond Markets (12 Dec 2012)

Michael Noonan: The information requested by the Deputy concerning debt issued through the sale of bonds each year since 1990 is presently being compiled by the National Treasury Management Agency (NTMA). I hope the Deputy will appreciate however that given the volume of information sought and the length of time covered by the request, some additional time is required in order to ensure that the answered...

Written Answers — Department of Finance: General Government Debt (12 Dec 2012)

Michael Noonan: The information requested by the Deputy for the years 1995 to 2012 is provided in the following table. Interest Payments €m Interest % of Govt. Expenditure 1995 2,718 12.76% 1996 2,625 11.40% 1997 2,935 11.09% 1998 2,608 9.50% 1999 2,090 6.72% 2000 2,144 6.50% 2001 1,825 4.68% 2002 1,854 4.23% 2003 1,805 3.86% 2004 1,739 3.45% 2005...

Written Answers — Department of Finance: Tax Yield (12 Dec 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the statistical information used to estimate the yield from taxing maternity benefit in 2013 is not sufficiently detailed to provide a reliable basis for ascertaining the precise information requested by the Deputy. However, I would point out that as a result of Maternity Benefit becoming taxable for all claimants with effect from 1 July 2013,...

Written Answers — Department of Finance: Tax and Social Welfare Codes (12 Dec 2012)

Michael Noonan: The position is that it is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. In line with this principle, the majority of social welfare payments are reckonable as income for tax purposes. These include long-term payments such as the Disablement Benefit, the State Pension, Widows, Invalidity and Blind Pensions, Carers Allowance...

Written Answers — Department of Finance: Tax Rebates (12 Dec 2012)

Michael Noonan: The position is that maternity benefit paid by the Department of Social Protection is not regarded as income for the purposes of the Income Tax Acts for 2011 and 2012 and is disregarded for all tax purposes. The Deputy will be aware, however, that in last week’s Budget, I announced that maternity benefit will become fully taxable from 1 July 2013. As maternity benefit was fully...

Written Answers — Department of Finance: Investor Compensation Company Limited (12 Dec 2012)

Michael Noonan: The Investor Compensation Company Limited (ICCL) is an independent company established in accordance with the Investor Compensation Act 1998. Under that Act there is no requirement on the ICCL to lay its annual report and accounts before the Houses of the Oireachtas. However, the ICCL publishes this information on its website and the Deputy may wish to read the 2012 Annual Report and Accounts...

Written Answers — Department of Finance: Economic Growth (12 Dec 2012)

Michael Noonan: My Department’s latest forecasts are set out in the Economic and Fiscal Outlook which accompanied the Budget and which was based on the Medium Term Fiscal Statement (MTFS) published on 24th November. My Department is projecting real GNP growth of 1.4 per cent for this year. This projection is based inter alia on data for the first half of the year which show annual GNP growth of...

Written Answers — Department of Finance: State Banking Sector (12 Dec 2012)

Michael Noonan: As the Deputy will be aware the subordinated bonds in issue are set out in the Annual Report each year. No such bond was listed in Page 151 of the 2011 Annual Report. I have been informed that the Deputy may be referring to the €10 million subordinated bond issued in 2000. As the bond was redeemed in 2008 no payment was made on 4 December 2012. Since the bond had already been redeemed...

Written Answers — Department of Finance: Tax Yield (12 Dec 2012)

Michael Noonan: There are no specific tax measures relating to wealth. However I assume the Deputy is referring to Budget 2013 measures that impact on assets and investment income rather than earned income. Details of such measures are set out below. Local Property Tax The local property tax on residential properties will come into effect as of 1 July 2013. There will be a system of market value taxable...

Written Answers — Department of Finance: Tax Yield (12 Dec 2012)

Michael Noonan: I am advised by the Revenue Commissioners that, assuming the enactment of changes announced in the 2013 Budget, the full year yield, estimated by reference to 2013 incomes, from increasing the rate of universal social charge by 3% on income earned in excess of €100,000 per annum by PAYE and self-employed income earners would be of the order of €71 million and €130 million...

Written Answers — Department of Finance: Departmental Contracts (12 Dec 2012)

Michael Noonan: In response to the Deputy's Question none of the work undertaken by officials of my Department is currently outsourced. In common with other Departments my Department undertakes functions in the areas of payroll, banking and financial management. These functions are currently being examined as part of an overall Civil Service approach to the feasibility of delivering these services on a...

Written Answers — Department of Finance: Banking Sector Remuneration (12 Dec 2012)

Michael Noonan: I have been informed by AIB that the statement made in the parliamentary question is incorrect. AIB's standard practice is to make payroll payments to the accounts of its employees regardless of which Bank they may be held in across the jurisdictions of Ireland and UK. The Bank does so on the basis of the instruction received from the employee who can change arrangements on request.

Written Answers — Department of Finance: Social Insurance Rates (12 Dec 2012)

Michael Noonan: The position is as I stated in my Budget day speech on 6 December 2012, that Minister Burton will bring forward legislation to change PRSI contributions as follows: - Where modified PRSI rate payers have income from a trade or profession, such income and any unearned income they have will be made subject to PRSI with effect from 1 January 2013. - Unearned income for all employees will...

Written Answers — Department of Finance: National Asset Management Agency (12 Dec 2012)

Michael Noonan: As at the 30th of June 2012 NAMA had assessed 800 Debtor Business Plans. NAMA advises me that it permits appropriate overheads where necessary for the preservation and enhancement of the value of property securing its loans. Overhead costs typically fall into two categories: (1) Cost associated with the repair and maintenance of properties, insurance premia, local authority rates and...

Written Answers — Department of Finance: Banking Sector Regulation (12 Dec 2012)

Michael Noonan: I have been advised that IBRC issued proceedings on 27 November 2012 against the company referred to. These proceedings relate to the role of the company as auditors to Anglo Irish Bank Plc. prior to nationalisation. As this matter is now the subject of litigation, it would be inappropriate for me to comment further at this time.