Results 25,581-25,600 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Portfolio Value (19 Jan 2017)

Michael Noonan: The Deputy will be aware that NAMA does not generally own property. Rather it has acquired loans for which the properties act as security. NAMA has been very active in seeking to facilitate the provision of social housing through its portfolio wherever possible. Working in conjunction with the Department of Housing, Planning, Community & Local Government, NAMA offered...

Written Answers — Department of Finance: Banking Sector (19 Jan 2017)

Michael Noonan: I am firmly of the view that the Irish banking system has an important role to play in the normalisation of the Irish housing sector through the speedy return of properties in their possession to the general market. I am also conscious that where a bank comes into possession of a property the institution has a fiduciary responsibility to dispose of the property in a manner that satisfies its...

Written Answers — Department of Finance: Help-To-Buy Scheme Administration (19 Jan 2017)

Michael Noonan: I am informed by Revenue that completed applications for registration as a 'qualifying contractor', for the purposes of the Help To Buy incentive are generally processed within one week of their application. Once the application contains all the relevant information required, which is set out in section 477C(2) Taxes Consolidation Act 1997, Revenue are able to determine if an applicant...

Written Answers — Department of Finance: Credit Union Regulation (19 Jan 2017)

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...

Written Answers — Department of Finance: Office of the Comptroller and Auditor General (19 Jan 2017)

Michael Noonan: I wish to advise the Deputy that the Design Crafts Council of Ireland does not fall under the remit of my Department. However, the Office of the Comptroller and Auditor General has advised that it does not audit the annual accounts of this Council.  If you have any further queries in relation to the Council you may wish to refer them to my colleague the Minister for Jobs, Enterprise and...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Funding (19 Jan 2017)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) began lending in March 2015 and its purpose is to increase the availability of low cost, flexible funding to SMEs. The SBCI does not lend directly to SMEs, rather it channels its funds through lending partners, known as on-lenders. At present, the SBCI has eight on-lending partners, including both bank and non-bank finance...

Written Answers — Department of Finance: Ministerial Meetings (19 Jan 2017)

Michael Noonan: Since the UK referendum outcome, I have met with my EU counterparts at the monthly Ecofin and Eurogroup meetings, most recently at the December meetings which took place on 5-6 December last. In addition, in relation to specific individual meetings where Brexit has been discussed, the following have taken place: Bilateral Meetings Location Date Philip Hammond, UK Chancellor of the...

Tracker Mortgages: Motion [Private Members] (24 Jan 2017)

Michael Noonan: I move amendment No. 2:To delete all words after “Dáil Éireann” and substitute the following:notes that:- the Central Bank of Ireland has a considerable range of supervisory, investigative and enforcement powers which have been enhanced in recent years across a wide range of areas to combat and punish wrongdoing; - in October 2015, the Central Bank of Ireland embarked...

Written Answers — Department of Finance: Mortgage Interest Relief Expenditure (24 Jan 2017)

Michael Noonan: A landlord in receipt of rental income is assessed to income tax on their net profit after deduction of allowable expenses incurred in earning those rents.  In computing the profit amount of the rents received, only those deductions that are specified in section 97(2) of the Taxes Consolidation Act 1997 are allowable. Interest on money borrowed to purchase, repair or improve the...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (24 Jan 2017)

Michael Noonan: The process to register as a 'qualifying contractor' for the Help to Buy incentive requires documentation be submitted which shows: - that the contractor has valid tax clearance and is considered compliant for Relevant Contracts Tax (RCT) purposes - details of the proposed or actual qualifying residences.  Such details include a copy of the planning permission, the...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (24 Jan 2017)

Michael Noonan: The legislation setting out the payment provisions for the Help to Buy incentive is contained in Section 477C (16) of the Taxes Consolidation Act 1997.  Claimants are required to complete a two-stage online process; an application and then a claim.  First-Time Buyers under the Help to Buy incentive fall into 3 categories as follows:- 1. Claimants who have contracted to...

Written Answers — Department of Finance: Revenue Commissioners Powers (24 Jan 2017)

Michael Noonan: I am informed by Revenue that they are legally prevented from making any comments in relation to specific cases on the grounds of taxpayer confidentiality. Section 851A of the Taxes Consolidation Act 1997 (inserted by the Finance Act 2011) placed on a formal statutory basis the long-standing and accepted obligation on Revenue to treat all taxpayer information confidentially. The general...

Written Answers — Department of Finance: Private Rented Accommodation (24 Jan 2017)

Michael Noonan: The Rebuilding Ireland Strategy for the Rental Sector, published by the Department of Housing, Planning, Community and Local Government in December 2016, committed to the establishment of a working group in early 2017 to examine and report on the tax treatment of landlords (or rental accommodation providers), and to put forward options, where appropriate, for amendments to such...

Written Answers — Department of Finance: Bus Éireann (24 Jan 2017)

Michael Noonan: The classification of Bus Éireann as a public corporation was recently reviewed as part of the work the Central Statistics Office (CSO) carried out to complete the Public Corporations Questionnaire for Eurostat.  This questionnaire considered data from annual financial statements up to 2015.  One of the purposes of this questionnaire is to conduct the Market /...

Written Answers — Department of Finance: Banking Sector Remuneration (24 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 140 and 141 together. I can confirm that as part of ongoing engagement with the banks in which the State has a shareholding, I met with the chairman of the bank referred to by the Deputy. At that meeting, a broad range of topics was discussed one of which was the current remuneration restrictions which apply to the...

Written Answers — Department of Finance: Tax Agreements (24 Jan 2017)

Michael Noonan: Ireland's interaction with Brazil on this important issue is being led by the Irish Ambassador to Brazil. All correspondence with the Brazilian Federal Revenue Service on this issue has to date been through the Ambassador and the Department of Foreign Affairs. My officials and officials from the Revenue Commissioners continue to be actively engaged in supporting the Ambassador in our...

Written Answers — Department of Finance: Fiscal Policy (24 Jan 2017)

Michael Noonan: As the Deputy will appreciate, it is a long standing practise of the Department of Finance not to revise the Budget day fiscal forecasts, based on the end year outturn. However, the Exchequer tax revenue performance will continue to be monitored closely in the coming months, along with all other components of the Exchequer. These performances will be reviewed as part of the next official...

Written Answers — Department of Finance: Tax Code (24 Jan 2017)

Michael Noonan: I note the amendment to the question asked, but the answer I provided to Parliamentary Question 41804/16 on the 17thof this month remains valid. There is no special Capital Acquisitions Tax (CAT) provision for single child families and the same general rules apply for single or multiple child families. Every child can avail of the Group A threshold, so,...

Written Answers — Department of Finance: Departmental Staff Data (24 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 145 and 146 together. I have 1 Secretary General, 1 Second Secretary General and 5 Assistant Secretaries General in my Department at present. The annual pay for each at 1 Jan 2017 is contained in the following table. Post Annual Pay Secretary General x 1 €185,350.00 Second Secretary General x 1 €175,126.00 Assistant Secretary x 1...

Written Answers — Department of Finance: Credit Availability (24 Jan 2017)

Michael Noonan: As the Deputy is aware, small and medium sized businesses, including those in the construction sector, play a central role in the sustainable recovery of the Irish economy. Government policy is focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. The Deputy will also be aware that in my role as Minister for...