Results 22,921-22,940 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (26 May 2016)

Michael Noonan: I am advised by the Revenue Commissioners that, in general, taxpayers who are "chargeable persons" under the self-assessment system (for example, individuals who carry on a trade, or have non-PAYE income such as investment income or foreign pensions) are required to submit a tax return and self-assessment to Revenue by 31 October of the year following the tax year in question (or by...

Written Answers — Department of Finance: Mortgage Schemes (26 May 2016)

Michael Noonan: The Programme for a Partnership Government provides that "We will take all necessary action to tackle high variable interest rates; including through establishing a new code of conduct for switching mortgage provider, administered by the Central Bank and the development of a new, easy-to-use standardised and dedicated switching form." A Central Bank Economic Letter published...

Written Answers — Department of Finance: Property Tax Exemptions (26 May 2016)

Michael Noonan: I am advised by Revenue that the property in question is exempt from Local Property Tax (LPT) until 31 October 2019. The verification check undertaken by Revenue arose on foot of the person in question selecting the incorrect exemption code. On foot of Revenue's check, the person's record was revised to reflect the correct exemption code and the matter was fully resolved.

Written Answers — Department of Finance: Tax Avoidance (26 May 2016)

Michael Noonan: The dwelling house exemption is a provision of the capital acquisitions tax (CAT) legislation. It allows for the tax-free transfer by way of gift or inheritance of the residential property in which a beneficiary lives, subject to certain conditions. These conditions include a requirement that the beneficiary has been living in the property for three years prior to receiving it and that they...

Written Answers — Department of Finance: Pension Provisions (26 May 2016)

Michael Noonan: Before Finance Act 1999 people with defined contribution pension savings had no option but to buy a pension income (called an annuity) with their savings after taking the allowable tax-free retirement lump sum. Changes since then have given people more choices for what to do with their pension savings. This is called the flexible options at retirement regime. These choices include taking a...

Written Answers — Department of Finance: Insurance Costs (26 May 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  The ability of the Government to influence insurance pricing is limited as insurance companies are required under European law to price in accordance with risk and neither I, nor the Central Bank of Ireland, have the power to direct insurance companies on the pricing or...

Written Answers — Department of Finance: Tax Relief Availability (26 May 2016)

Michael Noonan: There are no specific tax reliefs or allowances provided for in the Taxes Acts with respect to the employment of au pairs.  The Deputy may be concerned with regard to the obligations of parents employing au pairs to register as an employer and deduct PAYE, USC and PRSI from payments to such au pairs.  In this respect, under regulation 9 of the Income Tax (Employments)...

Written Answers — Department of Finance: Legislative Programme (31 May 2016)

Michael Noonan: The information requested in respect of the Bills which my Department are working on is set out in the following table. Once a Bill has been published it is, of course, a matter for the Oireachtas to determine when the various stages of the legislation will be taken. Bill Timeframe Taxation and Certain Other Matters (International Mutual Assistance) Bill This Bill was submitted for...

Written Answers — Department of Finance: Mortgage Insurance (31 May 2016)

Michael Noonan: As the Deputy will be aware, during the term of the thirty-first Dáil, the Oireachtas Joint Committee on Finance, Public Expenditure and Reform, published a report on "Mortgage Insurance in an Irish Context".  This report (at ) outlined, inter alia, the recent history of mortgage insurance in the Irish market and noted that, for a variety of reasons, the utilisation of...

Written Answers — Department of Finance: Stability and Growth Pact (31 May 2016)

Michael Noonan: I propose to take Questions Nos. 235 to 237, inclusive, together. In accordance with the Council Recommendation, dated 7 December 2010, as part of an Excessive Deficit Procedure (EDP), Ireland was required to reduce its headline general government deficit to at least 2.9% by 2015. To ensure sufficient progress towards this objective, annual targets were set for the headline deficit...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (31 May 2016)

Michael Noonan: Some assistance for the relevant householders may be provided by the Home Renovation Incentive, which was introduced in Budget 2014. The scheme came into operation on 25 October 2013 and is scheduled to run until 31 December 2016. The incentive provides income tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or...

Written Answers — Department of Finance: Excessive Deficit Procedure Administration (31 May 2016)

Michael Noonan: When reporting the Excessive Deficit Returns for 2015 in April, the CSO highlighted that Eurostat had made a determination during the clarification process that the conversion of the AIB preference shares to ordinary shares was to be treated as a capital transfer (expenditure) rather than a reinvestment of capital. This increased the general government expenditure for 2015 on a one-off basis...

Written Answers — Department of Finance: NAMA Annual Report and Accounts (31 May 2016)

Michael Noonan: I would wish to point out that I received NAMA's 2015 Annual Report and Accounts on 12th May 2016. This is less than 3 weeks ago, rather than the two months suggested by the Deputy. As the Deputy will be aware, NAMA is required to submit its annual accounts to me following the Comptroller and Auditor General's (C&AG) audit of those accounts. Thus, prior to...

Written Answers — Department of Finance: Life Insurance Policies (31 May 2016)

Michael Noonan: Firstly, it should be noted that the Central Bank of Ireland has the responsibility for day-to-day regulatory issues, and is statutorily independent in the exercise of these functions.  My officials have consulted with the Central Bank who have advised that the type of plan in question is designed to provide consumers with life cover for their whole...

Written Answers — Department of Finance: Life Insurance Policies (31 May 2016)

Michael Noonan: Firstly, it should be noted that the Central Bank of Ireland has the responsibility for day to day regulatory issues, and is statutorily independent in the exercise of these functions.  While the Bank is prevented from discussing individual regulated firms, it has advised that the regular payment into the plan in question covers the cost of providing the benefits...

Written Answers — Department of Finance: Tax Relief Eligibility (31 May 2016)

Michael Noonan: I am advised by the Revenue Commissioners that gifts and inheritances of agricultural property, including land, qualify for relief (known as 'agricultural relief') from the payment of Capital Acquisitions Tax (CAT) once certain conditions are satisfied. Section 89 of the Capital Acquisitions Tax Consolidation Act (CATCA) 2003 provides for 'agricultural relief'. The relief takes the form of...

Written Answers — Department of Finance: Mortgage Data (31 May 2016)

Michael Noonan: I have been informed by the lender referred to in your question that the 11% quoted represents the amount of new mortgage loans that are considered as exceptions under the Central Bank of Ireland's macro prudential rules and does not include any exemptions for, for example, switchers or negative equity customers. The Deputy may also be aware that, in relation to the...

Written Answers — Department of Finance: Departmental Advertising Expenditure (31 May 2016)

Michael Noonan: The information requested by the Deputy in relation to the amount of money spent by my Department on media advertising fees from March 2011 to February 2016 is set out in the following table. Year Media organisation Purpose of advertisement Cost (€) Annual total to media organisation Annual Department total (€) 2011 Brindley Advertising Appointments of Board of Directors of...

Written Answers — Department of Finance: Stability and Growth Pact (31 May 2016)

Michael Noonan: There are two sources of flexibility within the EU rules designed to encourage Member States to undertake public investment. Firstly, within the expenditure benchmark pillar of the fiscal rules investment in capital formation is granted favourable treatment.  Within the rules spending on capital formation is smoothed over four years with the result that only one quarter of the increase...

Written Answers — Department of Finance: Financial Services Regulation (31 May 2016)

Michael Noonan: I understand that the appointment of a receiver can be done under company law or land and conveyancing law. The Companies Act 2014 includes detailed provisions which regulate the appointment and the powers of receivers, examiners and liquidators and is the responsibility of my colleague the Minister for Jobs, Enterprise and Innovation. While the 2014 Act does not specify any...