Results 7,341-7,360 of 27,019 for speaker:Michael Noonan

Fiscal Responsibility Bill 2012: Report Stage (6 Nov 2012)

Michael Noonan: Normal Dáil procedures will operate. One does not have to write into everything one does that a debate will be held in the Dáil. That is a job for the Dáil. If a plan is brought forward by a future Government I am sure the Opposition will not be totally witless and will demand a debate. The Taoiseach of the day will have the Whips discuss it and a debate will be held. This...

Fiscal Responsibility Bill 2012: Report Stage (6 Nov 2012)

Michael Noonan: Did they teach any Irish in St. Michael's? I said "Níl".

Written Answers — Department of Finance: Budget 2013 (6 Nov 2012)

Michael Noonan: The final details of the budget are decided by the Government and are not made known to individuals or groups outside the Government system until Budget Day. As the Deputy will be aware, we are in a programme of financial support with the EU and the IMF. The programme documents include a commitment to publish a budget to achieve a specified level of consolidation. The commitment...

Written Answers — Department of Finance: Tax Reliefs (6 Nov 2012)

Michael Noonan: The correspondence referred to in the question is from an individual who is concerned about reductions in the current tax relief available on pension contributions. No decisions have been made in this matter and I will bear in mind the concerns expressed in the context of any decisions that may be made in the future.

Written Answers — Department of Finance: Pension Provisions (6 Nov 2012)

Michael Noonan: The pension fund levy applies at a rate of 0.6% per annum to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislation. The levy will operate for a period of 4 years only (2011 to 2014) and the legislative provisions giving effect to the levy (section 4 of Finance (No 2) Act 2011) were specifically drafted...

Written Answers — Department of Finance: Tax Code (6 Nov 2012)

Michael Noonan: There are a number of significant challenges currently facing pensions systems across Europe and in Ireland. As the populations of most EU countries are aging, issues around pension sustainability and adequacy mean that effective retirement age and the need for longer working in particular have come to the fore. In Ireland, there are currently six people of working age for every pensioner...

Written Answers — Department of Finance: Tax Credits (6 Nov 2012)

Michael Noonan: As regards tax reliefs currently available, a comprehensive summary of these was provided recently in my reply to Dail Question No. 197 asked on 23rd October 2012. That reply contains details, as advised to me by the Revenue Commissioners, of the total identifiable costs to the Exchequer relating to income tax and corporation tax allowances, reliefs, exemptions and tax credits available and...

Written Answers — Department of Finance: Mortgage Interest Relief (6 Nov 2012)

Michael Noonan: The position is that a residence under construction may have various payments made throughout the course of construction in respect of which money may have been borrowed (e.g. on the purchase of the site and at various stages of the construction). On the understanding that the residence under construction will, when completed, become the individual’s sole or main residence, tax...

Written Answers — Department of Finance: Tax Yield (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 191 to 193, inclusive, together. I am informed by the Revenue Commissioners that it is not possible to furnish figures of the VAT take from the goods and services specified, as the information furnished on VAT returns does not require the yield from particular sectors of trade to be identified. I am further advised by the Revenue Commissioners that some...

Written Answers — Department of Finance: Banking Sector Remuneration (6 Nov 2012)

Michael Noonan: A review of remuneration practices and frameworks at the State supported banks – a Programme for Government commitment - is presently underway. I have noted the concerns raised by the Deputy’s constituent in relation to bankers pay in that context.

Written Answers — Department of Finance: Bank Debt Restructuring (6 Nov 2012)

Michael Noonan: The sale of loan portfolios is a commercial matter for the management and the Board of the Bank. I do not have a role in this function. AIB has informed me that EBS Limited has contracted to sell to Vesta Mortgage Investment Limited, (an affiliate of Lone Star), approximately €660m nominal of loan assets as part of its continuing strategy to meet its non-core deleveraging targets....

Written Answers — Department of Finance: Bank Debt Restructuring (6 Nov 2012)

Michael Noonan: The sale of loan portfolios is a commercial matter for the management and the Board of the Bank. I do not have a role in this function. AIB has informed me that EBS Limited has contracted to sell to Vesta Mortgage Investment Limited, (an affiliate of Lone Star), approximately €660m nominal of loan assets as part of its continuing strategy to meet its non-core de-leveraging targets....

Written Answers — Department of Finance: Bank Debt Restructuring (6 Nov 2012)

Michael Noonan: The sale of loan portfolios is a commercial matter for the management and the Board of the Bank. I do not have a role in this function. AIB has informed me that EBS Limited has contracted to sell to Vesta Mortgage Investment Limited, (an affiliate of Lone Star), approximately €660m nominal of loan assets as part of its continuing strategy to meet its non-core de-leveraging targets. The...

Written Answers — Department of Finance: Bank Debt Restructuring (6 Nov 2012)

Michael Noonan: The sale of loan portfolios and the appointment of advisors is a commercial matter for the management and the Board of the Bank. I do not have a role in this function. However, AIB has informed me that EBS Limited has contracted to sell to Vesta Mortgage Investment Limited, (an affiliate of Lone Star), approximately €660m nominal of loan assets as part of its continuing strategy to...

Written Answers — Department of Finance: Customs and Excise Protocols (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 199 and 200 together. I have been informed by the Revenue Commissioners who have responsibility for mineral oil tax that they do assign a separate code to marked gas oil imports in their regular return of data to the Central Statistics Office. In addition, details of all hydrocarbon oils, including marked gas oil, retained for home use are included in...

Written Answers — Department of Finance: Departmental Staff (6 Nov 2012)

Michael Noonan: Information regarding the number of retired public servants who have been re-hired is detailed in the Appropriation Accounts. The Appropriation Accounts are available online at www.audgen.gov.ie. During the period January 2012 to date, no staff member was rehired. However, one former staff member provided contractual services to this Department for 1.5 days and was paid at a per diem rate.

Written Answers — Department of Finance: Exchequer Revenue (6 Nov 2012)

Michael Noonan: It has been clarified with the Deputy that the question refers to the cash balances held in the Exchequer account and the use to which these will be put. The Exchequer had available cash balances of €22.5 billion at end-October 2012. Funds in the Exchequer are used for the ongoing payments necessary for running the State. The April Stability Programme Update (SPU) estimated that the...

Written Answers — Department of Finance: Tax Yield (6 Nov 2012)

Michael Noonan: An annual imputed distribution rate of 5% applies to approved retirement funds (ARFs) with asset values of €2 million or less and, from this tax year, to ‘vested’ Personal Retirement Savings Accounts (PRSAs where benefits have commenced) on the same basis. A higher imputed distribution rate of 6% applies from this tax year to ARFs and/or ‘vested’ PRSAs with...

Written Answers — Department of Finance: Fiscal Policy (6 Nov 2012)

Michael Noonan: At the outset, I want to stress that the Government’s key objective of supporting economic growth that delivers jobs remains to the forefront in framing fiscal and economic policy. Fiscal consolidation reduces the fiscal deficit and increases investor confidence which in turn lowers the cost of borrowing and helps to put public debt on a declining path. Having said that I fully...

Written Answers — Department of Finance: Tax Reliefs (6 Nov 2012)

Michael Noonan: The following arrangements currently apply to retirement lump sums paid under pension arrangements approved by the Revenue Commissioners. Lump sum amounts up to €200,000 are paid free of tax. They are also paid free of USC. The portion of a lump sum between €200,001 and €575,000 is taxed on a ring-fenced basis at 20%. This means that no tax credits or other tax reliefs...