Results 20,301-20,320 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Expenditure (30 Jun 2015)

Michael Noonan: I am advised by NAMA that the breakdown of firms/persons who received over €20,000 in respect of work for National Asset Management Agency in 2014 under the headings requested is as follows: The following figures are based on invoices paid during 2014 financial year and exclude accruals and prepayments. Portfolio Transition Costs Supplier Name Amt €'0 00 IBRC - Irish Bank...

Written Answers — Department of Finance: NAMA Staff Data (30 Jun 2015)

Michael Noonan: I am advised by NAMA that 17 NTMA staff assigned to NAMA under Section 42 of the NAMA Act were placed on garden leave during 2014 with an attributable cost of approximately €400,000 inclusive of Employer's PRSI.NTMA staff are employed on the basis of confidential individually negotiated contracts. I am further advised by NAMA that garden leave does not represent an incremental...

Written Answers — Department of Finance: NAMA Staff Remuneration (30 Jun 2015)

Michael Noonan: I am advised that the NTMA made performance-related payments to 16 staff in respect of 2014. These payments, in aggregate, totalled €79,200. No performance-related payments were made to any employee earning a salary of over €150,000. I am also advised that no such performance-related payments were made to any staff assigned to NAMA. I am further advised by the NTMA...

Written Answers — Department of Finance: Prize Bonds (30 Jun 2015)

Michael Noonan: The Deputy previously asked if I would review the requirement that gift purchases of prize bonds for as little as €25 be subject to the obligation to provide evidence of identity. Following consideration by Officials from both my Department and the NTMA I am pleased to inform you that it was agreed that, in certain circumstances, there is no longer an obligation to provide evidence...

Written Answers — Department of Finance: Pensions Levy (30 Jun 2015)

Michael Noonan: I announced in my Budget 2014 speech that the original 0.6% levy introduced in 2011 to fund the Jobs Initiative would be abolished after 2014 and that levy no longer applies. I did, however introduce an additional levy on pension funds at 0.15% for 2014 and 2015. I did this to, among other things, continue to help fund the Jobs Initiative. I confirmed in my Budget 2015 speech that the...

Written Answers — Department of Finance: NAMA Social Housing Provision (30 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 233 and 234 together. It is clear that NAMA is a making a substantial contribution to the provision of social housing. Since 2012, under an initiative agreed with the then Minister for the Environment, Community and Local Government, NAMA has identified 6,391 houses and apartments held by its debtors and receivers as being available and potentially suitable...

Written Answers — Department of Finance: Tax Rebates (30 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned may be entitled to a refund of DIRT under the First-Time Buyers Scheme. Revenue will make direct contact with the person concerned and will provide her with any necessary forms to allow her make a refund application.

Written Answers — Department of Finance: IBRC Loans (30 Jun 2015)

Michael Noonan: In relation to the first part of the question posed, as the Deputy will be aware the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit term of reference (1b) dealing with issues of public concern: The Commission shall investigate all transactions, activities and management decisions, other than those relating solely to the...

Written Answers — Department of Finance: Banking Sector Staff (30 Jun 2015)

Michael Noonan: As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks in which it holds investments or their management decisions regarding commercial matters and hence any discussions around matters such as outsourcing are a matter for the bank, the relevant staff and their union representatives. Notwithstanding...

Written Answers — Department of Finance: Tax Reliefs Abolition (30 Jun 2015)

Michael Noonan: I understand the Deputy to be referring to reliefs or credits eliminated or commencing to be phased out following changes made in the Finance Acts in 2012 and 2013. The tax reliefs and credits which follow were ceased or are being phased out as a consequence of those Acts. I am advised by the Revenue Commissioners that Exchequer costs or savings are not available for all measures referred...

Written Answers — Department of Finance: Carbon Tax Collection (30 Jun 2015)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of solid fuel carbon tax (SFCT), that the tax is returned on a self-assessed basis and is subject to the full range of compliance tools for self-assessed taxes, including risk profiling, audit and compliance interventions and debt enforcement. In circumstances where there are grounds to believe that tax due...

Written Answers — Department of Finance: Property Tax (30 Jun 2015)

Michael Noonan: I am very conscious of the concerns of homeowners, particularly those in urban areas, as regards increasing property prices and the effects this would have on their LPT liabilities.  With a view to addressing these concerns, I have asked Dr. Don Thornhill, who chaired the 2012 Inter-Departmental Group which designed the Local Property Tax (LPT), to conduct a review...

Written Answers — Department of Finance: Tax Rebates (30 Jun 2015)

Michael Noonan: I would refer the Deputy to my written response on 26 May to his previous question on this matter. That position is unchanged.

Written Answers — Department of Finance: Tax Code (30 Jun 2015)

Michael Noonan: There is no official data on the total sales revenue of sugar-sweetened drinks in Ireland. However, using data from industry sources gives a yield of €49 million for a rate of 5% on the final sales price of carbonated drinks (diet and non-diet), concentrates, & sports and energy drinks. The Deputy may be aware that an examination of a tax on sugar...

Written Answers — Department of Finance: Property Tax (30 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that at present Local Property Tax (LPT) is not a deductible expense for income tax or corporation tax purposes. The Thornhill Group, the inter-departmental group, chaired by Dr Don Thornhill, set up to consider the design of a property tax (the "Thornhill Group") recommended that the LPT paid in respect of a rented property should be deductible for...

Written Answers — Department of Finance: Social Insurance (30 Jun 2015)

Michael Noonan: Entitlement to social welfare benefits is primarily a matter for the Minister for Social Protection, who has advised me that self-employed workers pay class S PRSI at the rate of 4% on all of their income, including unearned income such as rental income. PRSI class S contributors can establish entitlement to maternity benefit, adoptive benefit, guardian's payment and long-term benefits such...

Written Answers — Department of Finance: Tax Code (30 Jun 2015)

Michael Noonan: I have said in response to a number of other recent Parliamentary Questions on this matter that I recognise that recent growth in property values has implications for the liabilities that can arise from capital acquisitions tax. For this reason, I am reviewing the various aspects of this tax, including the lifetime tax-free thresholds, in the context of my preparations for Budget 2016 and...

Written Answers — Department of Finance: Mortgage Interest Rates (30 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 246 and 266 together. As the Deputy will be aware, I met with senior management of Ireland's six main mortgage lenders, including Permanent TSB, on 19th and 21st May to discuss the issue of mortgage interest rates. The meetings focused on the mortgage market and specifically the comparatively high standard variable rates currently being charged...

Written Answers — Department of Finance: Tax Collection Forecasts (30 Jun 2015)

Michael Noonan: The new bands which would arise from a global 30% increase in rates of VRT are outlined as follows: Band Current Rate Proposed Rate A1 14% 18.2% A2 15% 19.5% A3 16% 20.8% A4 17% 22.1% A5 18% 23.4% A6 19% 24.7% A7 23% 29.9% A8 27% 35.1% A9 30% 39.0% A10 34% 44.2% A11 36% 46.8% The following table outline the increase in revenue that would arise from introducing the new...

Written Answers — Department of Finance: Tax Collection Forecasts (30 Jun 2015)

Michael Noonan: I assume that the Deputy is referring to the restriction on the use of certain tax reliefs and exemptions by high income individuals. I am informed by the Revenue Commissioners that data to provide a definitive estimate of the yield from the measures outlined by the Deputy are not readily available. However, based on personal income tax returns filed for the year 2013, the latest year for...