Results 9,461-9,480 of 27,019 for speaker:Michael Noonan
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: It is up to the Opposition to propose amendments.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: It is up to me to tell the Opposition what I feel about them.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: If I find the Deputy's money tree, I might do it. I would need a money forest for the kinds of things the Deputy is proposing.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: I move amendment No. 9: In page 14, line 45, after “former employee” to insert the following:"who holds or has held an office or employment the profits or gains from which are or were chargeable to tax under Schedule E or under Case III of Schedule D".These technical amendments are designed to confine the application of the relevant measure in the Bill to those individuals who...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: I move amendment No. 10: In page 15, lines 28 and 29, to delete "becomes an employee of that employer—" and substitute the following:"first holds with that employer an office or employment the profits or gains from which are chargeable to tax under Schedule E or under Case III of Schedule D––".
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: I move amendment No. 11: In page 15, line 36, after "tax" to insert the following:"or is not liable in a territory with the government of which arrangements are for the time being in force by virtue of section 826(1) (or in a territory with the government of which arrangements have been made which on completion of the procedures set out in section 826(1) will have the force of law) to a tax...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: I move amendment No. 12: In page 17, line 10, after "employee" to insert the following:"who holds or has held an office or employment the profits or gains of which are or were chargeable to tax under Schedule E or under Case III of Schedule D".
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: Section 12 makes a number of changes in the application of the benefit-in-kind rules. For the removal of doubt, the amendment to section 116 of the Taxes Consolidation Act 1997, which is an interpretation section, clarifies that the benefit-in-kind provisions apply to officeholders as well as to employees. The amendment to section 118 of the 1997 Act updates the legislative references...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: The note I have states this is a routine amendment. The rates are checked on an annual basis and adjusted if they are out of line with the Central Bank figures. They are checked on the run-in to the budget. Based on the data available from the Central Bank, at the time home loan rates were in the range of 3.12% to 4.04%. Accordingly the specified rate was reduced in the budget from 5% to...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: The information I have is that the December 2012 figures from the Central Bank indicate that mortgage loan rates are in the range of 3.43% to 4.34% and non-mortgage loan rates are 13.57% so that the new specified rates of 4% and 13.5% are appropriate. Since the review is on a 12 month basis, what we do captures trends over a 12 month period. There were reductions on interest rates earlier...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: This is a technical exercise which is carried out by the officials on the advice of the Central Bank. Rates change regularly throughout the year and it is impractical to change the preferential rate throughout the year. The only thing we can do is to make an assessment once a year and change. It is impossible to predict interest rates movement in advance. We will look again at the rates...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: I move amendment No. 14: In page 20, to delete line 28 and substitute the following:“payment.(c) (i) Notwithstanding subparagraph (i) of paragraph (a) the amount of €200,000 referred to in that subparagraph shall be reduced by an amount equal to the aggregate amount of all payments, exempted from income tax by virtue of that subparagraph, which were paid before or at the same...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: It is not too late and I think we can accommodate the Deputy. Many of the amendments I have proposed are technical amendments and have come through from Revenue, which has pointed out flaws or ambiguities in prior legislation that need amendment. If I give the Deputy a note listing technical amendments, the Deputy would not need a further note on them. However, if an amendment deals with...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: It is worth reflecting on the policy position before I read my briefing note. Pension provision is very important for both the individuals making the provision and for society as a whole. People are very anxious to make provision for their old age and that is the reason there are so many incentives to encourage people to make provision for their retirement. We can all share that position....
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: No, not at present. I would like to wait for the report that has been commissioned by the Minister for Social Protection, which I understand is quite advanced. I think everybody here would agree that we need a wider debate on pensions in the current context and when that policy paper emerges, that might be the time for such a debate.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: The person who put the €25,000 in got relief at the marginal rate-----
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: The person got relief on the way in.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: Is the Deputy saying that some way should be found to offset-----
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: Deputy Mathews is saying that some way should be found to offset the loss against present income.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: That is a very interesting point. I cannot do anything about it between now and Report Stage but in the context of the pension debate which I think we will have between now and the summer, it might-----