Results 21,281-21,300 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Universal Social Charge Yield (22 Oct 2015)

Michael Noonan: I propose to take Questions Nos. 129 to 133, inclusive, together. I am advised by the Revenue Commissioners that, on the basis of my Department's projected forecast of €4 billion in Universal Social Charge (USC) receipts for 2016, the USC yield for the 1%, 3%, 5.5%, 8% and 11% rates is tentatively estimated to be in the order of €171 million, €213 million,...

Written Answers — Department of Finance: Tax Reliefs Data (22 Oct 2015)

Michael Noonan: Section 266A of the Taxes Consolidation Act 1997 provides for refunds of Deposit Interest Retention Tax (DIRT) for first-time buyers who purchase a house or apartment to live in as their home and excludes properties acquired for investment purposes.  It also applies to first-time buyers who self-build a home to live in. The scheme applies to properties purchased by first time buyers...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (22 Oct 2015)

Michael Noonan: Following discussions with the EU Commission with regard to the State Aid rules, a number of changes were made to the Employment and Investment Incentive via Financial Resolution taken on Budget night on October 13th last. That resolution also commenced the changes announced to the EII in last year's Budget and included in Finance Act 2014. The changes, inter alia, allow all...

Written Answers — Department of Finance: Redundancy Payments (22 Oct 2015)

Michael Noonan: Statutory redundancy payments payable under the Redundancy Payments Acts are exempt from income tax. In addition to statutory redundancy, individuals may receive ex-gratia or termination payments on leaving employment. Such payments are chargeable to tax but may qualify for certain exemptions provided for in section 201 of the Taxes Consolidation Act 1997 as follows: 1. A "basic exemption"...

Written Answers — Department of Finance: NAMA Housing Construction (22 Oct 2015)

Michael Noonan: Against a background of continuing dysfunctionality in the residential development market and a major supply shortage in urban areas, NAMA has undertaken to fund the delivery of 20,000 residential units over the next five years in so far as that can be done on commercially viable basis.  The issue of State aid does not arise. NAMA will be providing funding to debtors...

Written Answers — Department of Finance: Tax Yield (22 Oct 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the Vehicle Registration Tax in respect of new vehicles in the period 1 January to 30 September 2015 and the corresponding periods for the years 2012 to 2014 are shown in the following table. Year €m Jan to Sep 2012 282.9 Jan to Sep 2013 303.2 Jan to Sep 2014 400.0 Jan to Sep 2015 523.3

Written Answers — Department of Finance: Tax Code (22 Oct 2015)

Michael Noonan: The Drivers and Passengers with Disabilities (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, assistance with fuel costs, and an exemption from Motor Tax. As the Deputy is aware, to qualify for the Scheme an applicant must have a permanent...

Written Answers — Department of Finance: Alcohol Sales Legislation (22 Oct 2015)

Michael Noonan: Alcohol is a controlled substance and any person wishing to sell alcohol requires a licence to do so, either via the on-trade or the off-trade.  Licensed premises have a graduated licence duty fee structure based on turnover, with a total of six bands ranging from €250 to €3,805. The costs of these licences are unchanged since 1992. Overall, the licence fee is...

Written Answers — Department of Finance: Financial Institutions Levy (22 Oct 2015)

Michael Noonan: Every year, in order to cover the costs of financial regulation, the Central Bank prescribes levies to be paid by entities subject to such regulation. The Central Bank had briefed industry representatives in August that it was proposing significant increases in those levies in 2015. The proposed increases were driven by a proliferation of legislative regulation and...

Written Answers — Department of Finance: Tax Code (22 Oct 2015)

Michael Noonan: I am advised by the Revenue Commissioners that, following notification to them of a change in employment rather than the start of an additional employment by the person concerned, an amended tax credit certificate will issue shortly to the person concerned and to their new employer. This certificate will reflect the tax credits, including the single person child carer credit, to which she is...

Written Answers — Department of Finance: Tax Yield (22 Oct 2015)

Michael Noonan: I am informed by the Revenue Commissioners that an estimated 51% of income earners on Revenue records have gross income of €30,000 or less and these cases would contribute an estimated 20.4% of the total tax yield were a 23% flat tax implemented. Post Budget 2016, it is estimated that this group will pay 4.2% of total combined income tax and USC in 2016. For the purposes of these...

Written Answers — Department of Finance: Tax Code (22 Oct 2015)

Michael Noonan: I propose to take Questions Nos. 144 and 145 together. I am informed by the Revenue Commissioners that a Post-Budget 2016 Ready Reckoner is now available on the Revenue Statistics webpage at . This Ready Reckoner shows a wide range of information, including the costs of increasing the standard rate tax band.  While the Ready Reckoner does not show all of the specific costings requested...

Written Answers — Department of Finance: Budget Targets (22 Oct 2015)

Michael Noonan: Estimates of the gross and net fiscal space for the period 2017 to 2021 can be found in Tables A8 and A9 on pages C.50 and C.51 of the Budget 2016 book. The estimated net fiscal space available for 2017 is €0.5 billion and 2018 is €1.1 billion. Table A9 shows the walk from gross fiscal space to net fiscal space. The former is simply the permitted fiscal space...

Written Answers — Department of Finance: NAMA Social Housing Provision (3 Nov 2015)

Michael Noonan: There are currently clear distortions in the housing market as it attempts to find an equilibrium between supply and demand following the large value swings of the crisis and as to now a lagging supply response is being dampened by expectations of continued future price increases. In this regard, I announced as part of Budget 2016, plans for NAMA to fund the delivery of 20,000...

Written Answers — Department of Finance: Budget 2016 (3 Nov 2015)

Michael Noonan: I understand from clarifications given by the Deputy that his Question relates to the impact of the Universal Social Charge (USC) changes and the introduction of the Earned Income Credit (EIC) announced in Budget 2016 on PAYE workers and the self-employed. I am informed by the Revenue Commissioners that the estimated, full year, combined cost of the USC changes and the introduction of...

Written Answers — Department of Finance: Departmental Budgets (3 Nov 2015)

Michael Noonan: The information requested by the Deputy is set out as follows: Programme Programme Expenditure 2015 Budget Estimate  (€000) 2015 Estimated Outturn (€000) Excess/Savings for 2015* Date Savings/Excess approved Approval process A European Union  and International Policy 2,908 2,908 0 N/A N/A B Financial Services  Policy 10,744 10,744 0 N/A N/A C Fiscal Policy...

Written Answers — Department of Finance: Lansdowne Road Agreement (3 Nov 2015)

Michael Noonan: I wish to inform the Deputy that the Paybill estimate of €18.5 million for my Department for 2016 will encompass all Paybill costs anticipated including those under the Lansdowne Road agreement.

Written Answers — Department of Finance: Personal Public Service Numbers (3 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the requirement for a Personal Public Service Number (PPSN) ensures that the aggregation of gifts and inheritances from different disponers, as required for the calculation of Capital Acquisitions Tax liabilities, is correctly dealt with, thereby ensuring that the correct reliefs are applied and the correct amount of tax is paid.  As regards...

Written Answers — Department of Finance: Appointments to State Boards (3 Nov 2015)

Michael Noonan: In response to the Deputy's query, please find, in tabular form, the name of each appointee made; the date of appointment; whether or not each appointee came through an advertised public application process and the number of vacancies which presently exist on State Boards, in period March 2011 to date 2015. I have included ex officiomembers in the figures provided. I would ask...

Written Answers — Department of Finance: Investor Compensation Company Limited (3 Nov 2015)

Michael Noonan: By way of background, the Investor Compensation Company Limited (ICCL) was set up in compliance with section 10 of the Investor Compensation Act 1998 ('the Act').  It has a defined set of objectives, the most important of which is to establish and maintain funds from which clients can be paid compensation in the event that an investment firm fails to return money or investments which are...