Results 8,681-8,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs (29 Jan 2013)

Michael Noonan: I am informed by the Revenue Commissioners that as the information furnished in income tax returns in relation to foreign rental income does not require the location of these properties to be identified it is not possible to provide a breakdown of the properties in question by country of location as requested by the Deputy. I am also advised by the Commissioners that the legislative...

Written Answers — Department of Finance: Tax Reliefs (29 Jan 2013)

Michael Noonan: I have decided that that the Commission for Energy Regulation should be the designated authority for the relief set out in Finance Act 2012 and CER has acceded to my request to perform this function. The process of designation is underway and a number of issues are being finalised between Revenue and the Commission for Energy Regulation so that the relief can be applied.

Written Answers — Department of Finance: Tax Collection (29 Jan 2013)

Michael Noonan: I am informed by the Revenue Commissioners that based on the information provided they are unable to locate any documentation relating to the two parties concerning the property mentioned. If the Deputy can provide a reference number, a further search will be made to retrieve the documentation and a comprehensive reply will issue. The person concerned or the Deputy may contact the Dublin...

Written Answers — Department of Finance: Insurance Coverage (29 Jan 2013)

Michael Noonan: At the outset, it should be noted that the issue of flood cover and its unavailability is one which I am familiar with. I am also very conscious of the difficulties that the absence of such cover can causes to householders. The Deputy will be aware, that the issue of provision of new flood cover or the renewal of existing flood cover is a commercial matter for insurance companies, which has...

Written Answers — Department of Finance: Property Taxation (29 Jan 2013)

Michael Noonan: The Thornhill Group, the inter-departmental group, chaired by Dr Don Thornhill, established to consider the structures and modalities of a property tax, recommended that owners and not occupiers be the liable persons for the local property tax. This was also the view of the 2009 Commission on Taxation. The Thornhill Group recommended that the Local Property Tax paid in respect of a...

Written Answers — Department of Finance: Tax Code (29 Jan 2013)

Michael Noonan: I am advised by the Revenue Commissioners that under existing legislation income tax is charged under Schedule D of the Taxes Consolidation Act 1997 in respect of a number of sources of income, which are classified into five separate Cases. Under this provision, rent received by landlords (individuals and companies) from property in the State is chargeable to tax under Case V, while income...

Written Answers — Department of Finance: Tax Code (29 Jan 2013)

Michael Noonan: This question relates to the restriction on the deductibility of interest in computing taxable rental income from residential property: in the case of interest accruing on or after 7 April 2009 (insofar as it would otherwise be allowable) the deduction available to the landlord is limited to 75% of such interest. For the purpose of this reply, I am treating the reference to “formal...

Written Answers — Department of Finance: State Savings Scheme (29 Jan 2013)

Michael Noonan: Officials of my Department regularly engage with the National Treasury Management Agency (NTMA), covered institutions and other stakeholders on a wide range of issues, including the cost of funding. The NTMA is responsible for the State Savings schemes which includes Savings Certificates, Savings Bonds, Prize Bonds, the National Solidarity Bond, Instalment Savings and Deposit Accounts such...

Written Answers — Department of Finance: European Stability Programmes (29 Jan 2013)

Michael Noonan: As part of its response to the global economic and financial crisis, the EU has adopted a number of measures. This began with EU 2020, the EU’s growth strategy for the decade which aims to make the EU a smart, sustainable and inclusive economy. This was followed by the European Semester to which was added the Euro Plus Pact and the so-called ‘six-pack’ which came into...

Written Answers — Department of Finance: European Stability Mechanism (29 Jan 2013)

Michael Noonan: The deferral of interest on loans received under a programme of financial assistance from the European Financial Stability Facility (EFSF) and European Financial Stabilisation Mechanism (EFSM) that you propose arose in the context of the recently agreed package of measures designed to further assist Greece regain financial stability. The interest Greece will pay on its EFSF loans (it has no...

Written Answers — Department of Finance: Property Taxation (29 Jan 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 sets out in detail how Local Property Tax (LPT) is to be administered and provides how a residential property is to be valued for LPT purposes. The Act also provides for a number of specific exemptions from the charge. A broad outline of exempt properties include: - New and previously unused properties that are purchased from a builder or...

Written Answers — Department of Finance: NAMA Property Leases (29 Jan 2013)

Michael Noonan: The Department cannot provide all the details requested by the Deputy in the time available. This information should be available within the next week and, accordingly, I will issue a reply to the Deputy at that stage.

Written Answers — Department of Finance: NAMA Property Sales (29 Jan 2013)

Michael Noonan: NAMA has not requested a lifting of the restriction on it selling properties back to defaulting debtors. I do not believe there is merit in such a course of action at this time as I consider it appropriate that NAMA has put procedures in place to deal with this issue.

Written Answers — Department of Finance: Public Sector Conflicts of Interest (29 Jan 2013)

Michael Noonan: The Civil Service Code of Standards and Behaviour contains provisions regarding acceptance of outside appointments and of consultancy engagement following resignation or retirement. The code does not apply to directors or employees in State bodies in the wider public service. I am informed by the National Treasury Management Agency (NTMA) that NTMA employees have notice periods of one or...

Written Answers — Department of Finance: Tax Reliefs (29 Jan 2013)

Michael Noonan: I am informed by the Revenue Commissioners that there is no specific exemption from DIRT for a person in receipt of invalidity pension. However, an exemption does apply to a person who is permanently incapacitated by reason of physical or mental infirmity from maintaining himself or herself and who would be entitled to a refund of the entire amount of DIRT deducted by a Financial Institution....

Written Answers — Department of Finance: Credit Unions Regulation (29 Jan 2013)

Michael Noonan: The statutory basis for the Fitness and Probity regime is the Central Bank Reform Act 2010. The provisions were commenced for credit unions on 24 September 2012 and require Central Bank regulations and a code of practice to be in place before being fully implemented. The Central Bank has informed me that the Fitness and Probity regime for credit unions is undergoing consultation and is set...

Written Answers — Department of Finance: Retail Sector (29 Jan 2013)

Michael Noonan: To date, I have only received notification of the motion passed by Leitrim County Council in relation to the Retail Ireland report. I share the concerns expressed by the elected representatives with regard to the loss of revenue arising from these illegal activities. With regard to action to deal with the illicit trade, I am advised by the Revenue Commissioners that they are mindful of the...

Written Answers — Department of Finance: Insurance Industry (29 Jan 2013)

Michael Noonan: The Deputy should note that the only levy being applied to home, motor and commercial insurance is the 2% Insurance Compensation Fund (ICF) levy which operates under the Insurance Act 1964 and came into effect from 1 January 2012. It is expected to generate €65 million a year and will have to repay the €890 million advanced to date by the Exchequer to the ICF and on which a...

Written Answers — Department of Finance: Public Service Reform Plan Update (29 Jan 2013)

Michael Noonan: The Deputy in his question refers to Appendix IIa of the Public Service Reform Document. In Appendix IIa only one proposal is listed under the heading Department of Finance/Department of Public Expenditure and Reform. That proposal was to merge the Commission on Public Service Appointments (CPSA) with the Ombudsman’s Office. The Department of Public Expenditure and Reform has...

Written Answers — Department of Finance: Ministerial Meetings (29 Jan 2013)

Michael Noonan: I met Mr. Danny McCoy of IBEC on 19 October 2011 and 31 October 2012 to discuss pre-budget issues. I have attended a number of conferences hosted by IBEC, including the Property Industry Ireland Conference and others, where I would have met representatives of IBEC including Mr. McCoy. In addition, officials from my Department have met representatives of IBEC on a number of matters. My...