Results 8,161-8,180 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Legal Cases (11 Dec 2012)

Michael Noonan: I have been informed that it should be noted that the newspaper article in question published details of privileged information and the Bank has not waived the privilege attaching to that information. These matters are the subject of on-going litigation and it is not appropriate for the Minister to make any comment.

Written Answers — Department of Finance: Legal Cases (11 Dec 2012)

Michael Noonan: IBRC have advised me that it issued proceedings on 27 November 2012 against the company referred to in the question. These proceedings relate to the role of that company as auditors to Anglo Irish Bank Plc. pre-nationalisation. As this matter is now the subject of litigation, it would be inappropriate for me to comment further at this time.

Written Answers — Department of Finance: Housing Statistics (11 Dec 2012)

Michael Noonan: No database exists as yet containing the valuations of the housing stock in the State. The estimated percentages of residential properties per valuation band based on (a) the property price register and (b) data used in the Report of the Inter-Departmental Group on the Design of a Local Property Tax, chaired by Dr Don Thornhill (the “Thornhill report”) are as follows: Bands...

Written Answers — Department of Finance: Public Services (11 Dec 2012)

Michael Noonan: As the Deputy will be aware my Department is policy focused and does not have a large number of transactional staff and as such my Department does not immediately lend itself to external service delivery. My Department has not introduced any new service since March 2011. Notwithstanding the nature of activity in my Department they are working closely with their colleagues in the Department...

Written Answers — Department of Finance: Tax Code (11 Dec 2012)

Michael Noonan: The Tax Amnesty Scheme, provided for in the Waiver of Certain Tax, Interest and Penalties Act 1993, operated on a self assessment basis and comprised two distinct parts, an incentive amnesty and a general amnesty. The incentive amnesty related to outstanding tax, levy and health contribution liabilities in respect of income and/or capital gains of individuals for the period up to and...

Written Answers — Department of Finance: Budget 2013 (11 Dec 2012)

Michael Noonan: I propose to take Questions Nos. 145 to 147, inclusive, together. As I have stated recently in response to a number of related parliamentary questions, when focusing on the primary objectives of reducing the deficit and returning sustainability to the public finances, it has been of vital importance to the Government to spread the burden of the adjustments made in as fair and equitable a...

Written Answers — Department of Finance: Departmental Staff (11 Dec 2012)

Michael Noonan: To date, no individual has been appointed to the Role of Chief Economist in my Department.

Written Answers — Department of Finance: Consultancy Contracts (11 Dec 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the total number and names of companies working on IT related work in the years 2008, 2009, 2010 and 2011 along with details of the amounts paid to the companies, and the payment basis used, are set out in the following tables. Where the work was undertaken on a “per person per day” basis, details of the number of persons engaged...

Written Answers — Department of Finance: Mortgage Interest Relief (11 Dec 2012)

Michael Noonan: The position is, as I have stated in my Budget 2012 speech on 6 December 2011, and on many occasions in this House since, that mortgage interest relief for principal private residences will no longer be available to house purchasers who purchase after the end of 2012 and will be fully abolished from 2018. This means that a loan will have to be drawn down on or before 31 December 2012 in...

Written Answers — Department of Finance: Tax Code (11 Dec 2012)

Michael Noonan: The Deputy’s question, essentially, is whether everyone might be required to submit a tax return. The position is that in general, individuals whose income is taxed under the PAYE system are not required to submit a tax return annually because by and large it is not necessary. As the Deputy will be aware, the PAYE system successfully operates to deduct the correct amount of tax in a...

Written Answers — Department of Finance: Bond Markets (12 Dec 2012)

Michael Noonan: The information requested by the Deputy concerning debt issued through the sale of bonds each year since 1990 is presently being compiled by the National Treasury Management Agency (NTMA). I hope the Deputy will appreciate however that given the volume of information sought and the length of time covered by the request, some additional time is required in order to ensure that the answered...

Written Answers — Department of Finance: General Government Debt (12 Dec 2012)

Michael Noonan: The information requested by the Deputy for the years 1995 to 2012 is provided in the following table. Interest Payments €m Interest % of Govt. Expenditure 1995 2,718 12.76% 1996 2,625 11.40% 1997 2,935 11.09% 1998 2,608 9.50% 1999 2,090 6.72% 2000 2,144 6.50% 2001 1,825 4.68% 2002 1,854 4.23% 2003 1,805 3.86% 2004 1,739 3.45% 2005...

Written Answers — Department of Finance: Tax Yield (12 Dec 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the statistical information used to estimate the yield from taxing maternity benefit in 2013 is not sufficiently detailed to provide a reliable basis for ascertaining the precise information requested by the Deputy. However, I would point out that as a result of Maternity Benefit becoming taxable for all claimants with effect from 1 July 2013,...

Written Answers — Department of Finance: Tax and Social Welfare Codes (12 Dec 2012)

Michael Noonan: The position is that it is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. In line with this principle, the majority of social welfare payments are reckonable as income for tax purposes. These include long-term payments such as the Disablement Benefit, the State Pension, Widows, Invalidity and Blind Pensions, Carers Allowance...

Written Answers — Department of Finance: Tax Rebates (12 Dec 2012)

Michael Noonan: The position is that maternity benefit paid by the Department of Social Protection is not regarded as income for the purposes of the Income Tax Acts for 2011 and 2012 and is disregarded for all tax purposes. The Deputy will be aware, however, that in last week’s Budget, I announced that maternity benefit will become fully taxable from 1 July 2013. As maternity benefit was fully...

Written Answers — Department of Finance: Investor Compensation Company Limited (12 Dec 2012)

Michael Noonan: The Investor Compensation Company Limited (ICCL) is an independent company established in accordance with the Investor Compensation Act 1998. Under that Act there is no requirement on the ICCL to lay its annual report and accounts before the Houses of the Oireachtas. However, the ICCL publishes this information on its website and the Deputy may wish to read the 2012 Annual Report and Accounts...

Written Answers — Department of Finance: Economic Growth (12 Dec 2012)

Michael Noonan: My Department’s latest forecasts are set out in the Economic and Fiscal Outlook which accompanied the Budget and which was based on the Medium Term Fiscal Statement (MTFS) published on 24th November. My Department is projecting real GNP growth of 1.4 per cent for this year. This projection is based inter alia on data for the first half of the year which show annual GNP growth of...

Written Answers — Department of Finance: State Banking Sector (12 Dec 2012)

Michael Noonan: As the Deputy will be aware the subordinated bonds in issue are set out in the Annual Report each year. No such bond was listed in Page 151 of the 2011 Annual Report. I have been informed that the Deputy may be referring to the €10 million subordinated bond issued in 2000. As the bond was redeemed in 2008 no payment was made on 4 December 2012. Since the bond had already been redeemed...

Written Answers — Department of Finance: Tax Yield (12 Dec 2012)

Michael Noonan: There are no specific tax measures relating to wealth. However I assume the Deputy is referring to Budget 2013 measures that impact on assets and investment income rather than earned income. Details of such measures are set out below. Local Property Tax The local property tax on residential properties will come into effect as of 1 July 2013. There will be a system of market value taxable...

Written Answers — Department of Finance: Tax Yield (12 Dec 2012)

Michael Noonan: I am advised by the Revenue Commissioners that, assuming the enactment of changes announced in the 2013 Budget, the full year yield, estimated by reference to 2013 incomes, from increasing the rate of universal social charge by 3% on income earned in excess of €100,000 per annum by PAYE and self-employed income earners would be of the order of €71 million and €130 million...