Results 21,721-21,740 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Credits (18 Nov 2015)

Michael Noonan: The Single Person Child Carer Credit (SPCCC) is provided for in Section 462B of the Taxes Consolidation Act 1997 and is available to a parent or a person, defined as the "primary claimant", who has custody of and maintains a child who is living with him or her. The primary claimant may, if he or she so wishes, relinquish it to a "secondary claimant" with whom the child resides for at least...

Written Answers — Department of Finance: Rent Controls (18 Nov 2015)

Michael Noonan: On Tuesday 10 November last, Minister Kelly and I announced the Rent Certainty and Housing Supply package. The policies that we announced were the culmination of analysis on the part of our two Departments as well as other Departments, including the Department of Public Expenditure and Reform. The time taken in formulating the package reflects the complexity of the...

Written Answers — Department of Finance: Credit Unions Regulation (18 Nov 2015)

Michael Noonan: The credit union sector is aware of the need to consider ways of increasing its income and developing its business model. I am pleased that this topic is being seriously considered by the sector and that various options are being explored. My Department has received a number of such proposals. While the Department of the Environment, Community and Local Government is the Department...

Written Answers — Department of Finance: Credit Unions Regulation (18 Nov 2015)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. The Registrar of Credit Unions at the Central Bank is the independent regulator for credit unions. Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit...

Written Answers — Department of Finance: Mortgage Arrears Proposals (18 Nov 2015)

Michael Noonan: Strenuous efforts have been made by this Government to deal with the issue of mortgage arrears. Central Bank data for Q2 2015 which was published on 2 September 2015 shows just how much progress has been made - the number of Principal Dwelling Home mortgages (PDH) in arrears continued to fall in Q2 2015, marking the eighth consecutive quarter of decline and a 22% reduction since Q2 of...

Written Answers — Department of Finance: Tax Code (18 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that in general applications for VAT registrations are processed within their ten day service standard for such applications.  The Deputy will be aware that VAT registrations, used inappropriately, can represent a significant risk to the Exchequer. In that context, it is appropriate that Revenue carries out due diligence...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (18 Nov 2015)

Michael Noonan: The Disabled Drivers and Disabled Passengers Scheme provides relief from Vehicle Registration Tax and VAT on the purchase of a specially adapted vehicle, a fuel grant related to the running costs of the vehicle and an exemption from Motor Tax to drivers and passengers with disabilities who fulfil the medical criteria required to qualify for the scheme. The Scheme and qualifying criteria were...

Written Answers — Department of Finance: Tax Credits (18 Nov 2015)

Michael Noonan: The Action Plan for Jobs is a whole of government, multi annual initiative which mobilises all Government Departments to work towards the objective of supporting job creation. The figure of 173,000 quoted by the Deputy appears to be the difference between figures provided in answer to Parliamentary Questions No. 253 and 254 of 20 October 2015 in relation to the number of persons that...

Written Answers — Department of Finance: Tax Reliefs Cost (18 Nov 2015)

Michael Noonan: As the Deputy will be aware, an overall package of measures has been agreed by Government in relation to the rental sector. As part of that package, an amendment to the tax code is to be introduced that will allow an increase in the deduction available to landlords in respect of interest paid on qualifying loans when calculating rental profits.  As you are aware, in general a...

Written Answers — Department of Finance: Credit Unions Regulation (18 Nov 2015)

Michael Noonan: The Credit Union and Co-operation with Overseas Regulators Act 2012 (the "2012 Act" ) was signed into law by the President in December 2012. It was agreed at that time that it would be neither practical nor feasible to commence the 2012 Act in its entirety in one fell swoop. Following on from that, an implementation timetable for the 2012 Act was devised in consultation...

Written Answers — Department of Finance: Credit Unions Regulation (18 Nov 2015)

Michael Noonan: The Government recognises the distinct and important role that credit unions play in Irish society and in the financial sector and it is committed, with the Central Bank, to achieving our vision of financially strong, well governed credit unions providing appropriate services to current and to future members. I have met with the three main credit union representative bodies and have...

Written Answers — Department of Finance: Corporation Tax Regime (18 Nov 2015)

Michael Noonan: The performance of Corporation Tax receipts has been unexpectedly strong in 2015. At end-October, cumulative receipts were €2.0 billion or just under 74 per cent higher than expected and up €1.8 billion or over 60 per cent in year-on-year terms.   As the Deputy may be aware, approximately 80 per cent of Corporation Tax receipts are received from the multinational...

Written Answers — Department of Finance: Mortgage Interest Rates (18 Nov 2015)

Michael Noonan: As the Deputy will be aware, I have taken steps to ensure that banks provide options for mortgage holders to reduce their repayments.  Last May, I met with the six main mortgage lenders and outlined my view that the standard variable rate being charged to Irish customers was too high.  The banks agreed to review their rates and products and, by the beginning of July, to...

Written Answers — Department of Finance: Departmental Reports (18 Nov 2015)

Michael Noonan: The Government's position on developments in relation to British membership of the EU has been clearly articulated, in particular by the Taoiseach and the Minister of Foreign Affairs and Trade: we very much want the UK to remain an integral member of the Union. This is important for both our economy and the ongoing development of excellent relations between Ireland and the UK; Ireland...

Written Answers — Department of Finance: Freedom of Information Data (18 Nov 2015)

Michael Noonan: The National Asset Management Agency (NAMA) became subject to the Freedom of Information (FOI) Act, 2014 on 14 April 2015.  Since that date, NAMA has received a total of 97 requests. In a significant number of cases, each request contained a number of separate parts to the request amounting to 239 in total. The Freedom of Information Act sets out a number of standard exemptions, which...

Written Answers — Department of Finance: Credit Unions Regulation (18 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 62 and 63 together. The Credit Union and Co-operation with Overseas Regulators Act 2012 (the "2012 Act") was signed into law by the President in December 2012. It was agreed at that time that it would be neither practical nor feasible to commence the 2012 Act in its entirety in one fell swoop. Following on from that, an implementation...

Written Answers — Department of Finance: Credit Unions Regulation (18 Nov 2015)

Michael Noonan: The issue of the regulatory reserve ratio for credit unions is a matter for the Registrar of Credit Unions at the Central Bank who is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union...

Written Answers — Department of Finance: Credit Unions Regulation (18 Nov 2015)

Michael Noonan: The issue of credit union investments is a matter for the Registrar of Credit Unions at the Central Bank who is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. Section 44...

Written Answers — Department of Finance: Tax Rebates (18 Nov 2015)

Michael Noonan: Section 865 of the Taxes Consolidation Act 1997, providing for a statutory general right to repayment of tax as well as payment of interest, subject to a four year time limit, was originally introduced in 2003.  It provides that no repayment may be made based on claims submitted more than four years after the end of the period to which they relate. Prior to that there was no statutory...

Written Answers — Department of Finance: Universal Social Charge Exemptions (18 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that, on the basis of the Universal Social Charge (USC) rates and bands proposed in Budget 2016, the estimated first and full year cost of increasing the USC exemption threshold from €13,000 to €19,572 is in the order of €63 million and €87 million respectively. These figures are estimates from the Revenue tax...