Results 6,661-6,680 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Yield (18 Sep 2012)

Michael Noonan: I am advised by the Revenue Commissioners that since 1 January 2012 Deposit Interest Retention Tax (DIRT) is deducted at the rate of 30% from deposit interest. In addition a DIRT rate of 33% applies to interest that is not paid at annual or more frequent intervals or where the interest cannot be calculated until the maturity of the investment. This would include investments such as tracker...

Written Answers — Department of Finance: Financial Services Regulation (18 Sep 2012)

Michael Noonan: The Central Bank is responsible for the regulation of regulated financial service providers. Pension schemes or products are not regulated by the Central Bank but are separately regulated by the Pensions Board under the aegis of the Minister for Social Protection. The Central Bank (Supervision and Enforcement) Bill 2011 is currently before the Oireachtas. The Bill strengthens the ability...

Written Answers — Department of Finance: Bank Guarantee Scheme (18 Sep 2012)

Michael Noonan: State support for the banking sector to date has amounted to approximately €64.2 billion, which includes Exchequer payments of €12.6 billion, Promissory Note payments in respect of IBRC and EBS of €30.9 billion and €20.7 billion has been provided from the NPRF. The Deputy should be aware that the Exchequer is funded by tax and non-tax revenue and borrowings. No...

Written Answers — Department of Finance: Tax Rebates (18 Sep 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the person from whom the correspondence was received was at one time registered as a company director, but is now registered as a PAYE employee with effect from January 2011. The medical expenses claim submitted by him (MED 1) has now been processed accordingly.

Written Answers — Department of Finance: Tax Reliefs Application (18 Sep 2012)

Michael Noonan: The position is that Section 469 of the Taxes Consolidation Act 1997 provides for relief in respect of qualifying expenses incurred in the provision of health care in a tax year against the tax paid by an individual for that year. Where an individual defrays the cost of health care over two or more years the individual can elect either to have the relief for the expenses allowed in the...

Written Answers — Department of Finance: Appointments to State Boards (18 Sep 2012)

Michael Noonan: The information requested by the Deputy is as follows. The Irish Fiscal Advisory Council The Board has 5 members, one of whom is female. This equates to 80% male and 20% female. The Council was established in July 2011. For the avoidance of doubt, there have been no changes in the membership of the Council since its establishment. Disabled Drivers Medical Board of Appeal The following are the...

Written Answers — Department of Finance: Fuel Rebate Scheme (18 Sep 2012)

Michael Noonan: As the Deputy is aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry. I have recently received a submission from the group and I am considering the matters raised.

Written Answers — Department of Finance: Property Taxation Application (18 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 332 and 333 together. The Government has decided that the Revenue Commissioners will be responsible for the collection of the Local Property Tax and that a Bill to introduce the tax would be published with the Budget. My officials have been in contact with the Revenue Commissioners in this regard and have participated in the Interdepartmental group which...

Written Answers — Department of Finance: Mortgage Interest Relief Expenditure (18 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 334 and 335 together. I am informed by the Revenue Commissioners that the cost to the Exchequer of mortgage interest relief for principal private residences by way of tax relief at source (TRS) in each of the years 2011 to 2012 inclusive is as follows: Tax Year Cost €m 2011 357.3 2012 (8 months) 267.3* * This figure is provisional and subject...

Written Answers — Department of Finance: Mortgage Debt (18 Sep 2012)

Michael Noonan: Figures available from the Central Bank show that the total outstanding credit advanced to Irish resident private households for house purchase is 80,012 million euro as at June 2012. These figures are available on http://www.centralbank.ie/polstats/stats/cmab/Pages/Househol dCredit.aspx I have requested a breakdown of mortgages by value on a year by year uptake from 2002 to date in 2012 and...

Written Answers — Department of Finance: Tax Credits (18 Sep 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the correspondence referred to in the Deputy’s question has been dealt with and that an Amended Tax Credit Certificate was issued to the individual on 5 September 2012. If tax has been over deducted in 2012, this will be refunded by the pension provider.

Written Answers — Department of Finance: Tax Code (18 Sep 2012)

Michael Noonan: The Programme for Government indicated that, as part of its fiscal policy, the Government will ensure that “tax exiles” make a fair contribution to the Exchequer. In Budget 2012 I abolished the “citizenship condition” for payment of the Domicile Levy to ensure that individuals could not avoid the levy by renouncing their citizenship. I also stated that I intend...

Written Answers — Department of Finance: Universal Social Charge Payments (18 Sep 2012)

Michael Noonan: The position is that the Government has fulfilled its commitment in the Programme for Government to carry out a review of the Universal Social Charge (USC). The Terms of Reference of the Review were broad and wide-ranging and included the following areas: - Low paid income earners; - Persons over 65; - Medical Card Holders; - Widows/Widowers; - Self-employed; - Public Service Pensioners; -...

Written Answers — Department of Finance: Banking Sector Regulation (18 Sep 2012)

Michael Noonan: The banking system restructuring plan creates capacity for the two Pillar Banks, Bank of Ireland and AIB, to provide lending in excess of €30 billion from the period 2011-2013. SME and new mortgage lending for these banks is expected to be in the range of €16-20bn over this period. This lending capacity is incorporated into the banks’ deleveraging plans which allow for...

Written Answers — Department of Finance: Financial Services Regulation (18 Sep 2012)

Michael Noonan: There are a number of reasons why, under existing policies, early withdrawals of pension savings are not permitted, the principal one being that pension schemes and plans (and the associated tax reliefs) are designed as long term savings vehicles based on the principle that the savings will be “locked away” until retirement. Otherwise, there would be little reason to treat...

Written Answers — Department of Finance: Appointments to State Boards (18 Sep 2012)

Michael Noonan: In response to the Deputy’s question, information of membership of State Boards is as follows. NTMA Advisory Committee The Board consists of 83% per cent male membership and 17% female membership. Membership is as follows: David Byrne Tytti Noras (F) Donald C Roth Hugh Cooney John Moran Vacancy NPRF Commission The Board consists of 86% per cent male membership and...

Written Answers — Department of Finance: Tax Code (18 Sep 2012)

Michael Noonan: The position is that the Government is committed to introducing a property tax under the Memorandum of Understanding with the European Commission, the European Central Bank, and the International Monetary Fund. In addition, as the Deputy is aware, the Programme for Government states that as part of the Government’s fiscal strategy we will maintain the current rates of income tax...

Written Answers — Department of Finance: NAMA Property Leases (18 Sep 2012)

Michael Noonan: I am advised by NAMA that it does not own or manage the properties securing its loans. Its best estimate is that, of the residential units which are under the control of its debtors and receivers, some 9,200 units are currently rented and about 4,000 are vacant. I am advised that a substantial number of these vacant units are close to being made habitable and will shortly be available for...

Written Answers — Department of Finance: Disabled Drivers Grant Eligibility (18 Sep 2012)

Michael Noonan: The initial application for a Primary Medical Certificate under the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994, is made to the Senior Medical Officer of the relevant local Health Service Executive administrative area. If the Primary Medical Certificate is refused, the person may appeal the refusal to the Disabled Drivers Medical Board of Appeal, National...

Written Answers — Department of Finance: State Banking Sector (18 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 346 to 348, inclusive, together. On the 19th July 2012 the NPRF published their annual report. This contained a valuation of the NPRF’s ordinary and preference shareholdings in Bank of Ireland and Allied Irish Bank at 31st December 2011. As at the 31st December the NPRF valuation of its investments in Irish banks stood at €8 billion. Its...