Results 21,401-21,420 of 27,019 for speaker:Michael Noonan

Finance Bill 2015: Second Stage (4 Nov 2015)

Michael Noonan: Now goes the magician.

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (4 Nov 2015)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) was created to ensure increased lending, at a lower cost, to Irish SME's by channelling lower cost financing from EIB and KfW though lending partners known as on-lenders. All on-lending partners of the SBCI, including AIB and Bank of Ireland are required, under contract, to pass on to their borrowers the full extent of the financial...

Written Answers — Department of Finance: Motor Tax Exemptions (4 Nov 2015)

Michael Noonan: Regulations 8(4), 8(5), 10(4), and 12(6) of the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994 (S.I. 353 of 1994) provide that drivers, passengers and organisations respectively shall undertake to use the vehicle purchased under the Regulations for a period of two years from the date of purchase. Regulation 15 of the Regulations provides that...

Written Answers — Department of Finance: Tax Code (4 Nov 2015)

Michael Noonan: Capital Acquisitions Tax (CAT) applies to the beneficiary of a gift or inheritance rather than to the person making the gift or inheritance. While the rate of CAT is 33% each person has a number of life-time thresholds for gifts and inheritances which they can receive tax free. These are based on the relationship to the person who has made the gift or bequest. The 33% rate of CAT applies on...

Written Answers — Department of Finance: Tax Yield (4 Nov 2015)

Michael Noonan: I am informed by the Revenue Commissioners that it is not possible at this time to estimate when such properties will be disposed of in the future or the amount of chargeable capital gain, if any, which may arise on such disposals. Accordingly, it is not possible to estimate the likely cost of the exemption.

Written Answers — Department of Finance: Departmental Staff Data (4 Nov 2015)

Michael Noonan: The Department is fully aware of its obligations under the Official Languages Act 2003. The Department offers courses in Irish and other EU languages to staff of the Department in order to assist in dealing with queries and also to improve our communication when engaging with our EU colleagues. The Department has celebrated Seachtain na Gaeilge in 2014 and 2015 and funding is put in...

Written Answers — Department of Finance: Departmental Funding (4 Nov 2015)

Michael Noonan: In answer to the Deputy's question, I am interpreting the term "organisation" to mean "Bodies under the aegis of my Department". Of the 18 Bodies under the aegis of my Department one, the Disabled Drivers Medical Board of Appeal, is in receipt of funding allocated by my Department that is audited indirectly by the Comptroller and Auditor General. The Disabled Drivers Medical Board of...

Seanad: Commencement Matters: Ireland Strategic Investment Fund Investments (4 Nov 2015)

Michael Noonan: I thank Senator MacSharry for raising this important issue. Senators will be aware that Activate Capital, known as Activate, is a new and innovative non-bank financing platform that has been established by the Ireland Strategic Investment Fund, ISIF, and the global investment group KKR. Activate Capital will invest on a commercial basis in residential development projects in Ireland, which...

Seanad: Commencement Matters: Ireland Strategic Investment Fund Investments (4 Nov 2015)

Michael Noonan: The strategic investment fund is obliged by law to lend commercially and get a commercial return on its lending. The base rate is 10% but in individual projects the rate would be higher than that. In addition, if one has a successful project and allows for the fact that there is participation in profitability because they are providing equity, it grosses out at around the figure the Senator...

Written Answers — Department of Finance: Tax Reliefs Availability (5 Nov 2015)

Michael Noonan: I assume that the Deputy is referring to tax relief in respect of the cost of employing a person to take care of an incapacitated individual.  I am advised by the Revenue Commissioners that Section 467 of the Taxes Consolidation Act 1997 provides tax relief for an individual in respect of the cost of employing a person (including a person whose services are provided by or through an...

Written Answers — Department of Finance: Personal Public Service Numbers (5 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 (CAT) liabilities, is correctly dealt with thereby ensuring that the correct reliefs are applied and the correct amount of tax is paid. As I...

Written Answers — Department of Finance: Departmental Staff Relocation (5 Nov 2015)

Michael Noonan: I wish to inform the Deputy that I am aware of five staff who have applied through the Human Resources Unit of my Department to be transferred to locations other than their present location. There are a few ways for staff to apply for a transfer to other Departments and Offices including applying directly to the Department/Office and applying for a...

Written Answers — Department of Finance: Tax Data (5 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the proportions of Income Tax, Universal Social Charge (USC) and the Income Levy collected for the years 2005 to 2014 and the projected proportion for 2015 and 2016, are set out in the following table. I am also advised that further statistics on total receipts by taxhead are available on the Revenue Statistics website: . Year Income Tax (%)...

Written Answers — Department of Finance: Pensions Levy Yield (5 Nov 2015)

Michael Noonan: The 2015 forecast for stamp duty receipts on the pension fund levy was €135 million. At end-October 2015, receipts amounted to €169 million, which equates to a €34 million surplus or 25 per cent increase against target. As the Deputy may be aware, the deadline date for payment of the stamp duty levy on pension fund assets was 25 September 2015.  Although,...

Written Answers — Department of Finance: Tax Reliefs Data (5 Nov 2015)

Michael Noonan: This scheme provides that first-time buyers who purchase or self-build a residential property between 14 October 2014 and 31 December 2017 may be entitled to claim a refund of DIRT which was deducted from interest earned on savings used for the purchase of the property in the 48 months prior to the purchase date or completion date if a self-build.  The relief is confined to DIRT...

Written Answers — Department of Finance: NAMA Loans Sale (5 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 92 and 106 together. I am advised by NAMA that a preferred bidder has been selected, Promontoria Holding 176 B.V., an affiliate of Cerberus Global Investors (Cerberus), for Project Arrow. The sales price is a matter for the parties to the sale and as I have previously stated, as Minister for Finance I do not have a role in individual NAMA sales and I...

Written Answers — Department of Finance: NAMA Legal Proceedings (5 Nov 2015)

Michael Noonan: I am advised that legal proceedings have been issued against NAMA or a NAMA group entity in 66 cases, of which 40 cases are ongoing. I am further advised that 26 cases have been completed. 25 of those completed cases resulted in a favourable outcome for NAMA whilst 1 case resulted in a partly favourable outcome for NAMA.

Written Answers — Department of Finance: Banking Sector Data (5 Nov 2015)

Michael Noonan: The Central Bank of Ireland's registers () record the credit institutions authorised under Irish legislation to carry on banking business in the State, and those credit institutions authorised in other Member States of the European Economic Area (EEA) to carry on business in the State without receiving further authorisation from the Central Bank of Ireland, pursuant to the terms of the EU...

Written Answers — Department of Finance: Banking Sector Data (5 Nov 2015)

Michael Noonan: The Central Bank of Ireland does not keep a record of the number of ATMs in Ireland. However, such data is available in the public domain on the website of Banking & Payments Federation Ireland (the representative body for the payments industry in Ireland) at the following link:. BPFI's most recent data shows there were 3,065 ATMs in the country in 2014. In 2011 there were 3,192.

Written Answers — Department of Finance: NAMA Operations (5 Nov 2015)

Michael Noonan: I have not sought or received an estimate of the potential impact on NAMA's activities of any possible rent control measures given that no such measures have been specified.