Results 10,081-10,100 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Availability (16 Apr 2013)

Michael Noonan: The issue of constructive refusals of credit is dealt with in Statutory Instrument 127 of 2010 which contains guidelines relating to the Credit Review Office. Paragraphs 5 and 6 provide: 5. Where a decision on an application for a credit facility is not given by the participating institution within 15 working days, this shall be regarded as constructive refusal and the borrower may apply for...

Written Answers — Department of Finance: Credit Availability (16 Apr 2013)

Michael Noonan: My Department only receives the figures requested from the pillar banks. Bank of Ireland has submitted the following information on credit applications: some 55,741 applications were received in 2012, some 47,531 applications were approved in 2012, and some 8,210 applications were declined in 2012. The bank has also informed me that less than 1% of applications were pending decision at year...

Written Answers — Department of Finance: Property Taxation Exemptions (16 Apr 2013)

Michael Noonan: While there is no specific exemption from or reduction in the charge to Local Property Tax (LPT) for senior citizens or senior citizens with a disability, the Finance (Local Property Tax) Act 2012 (as amended) contains certain provisions that may be relevant, depending on the particular circumstances involved. For individuals on low incomes or those whose only income source is from the...

Written Answers — Department of Finance: Property Taxation Administration (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered. The Local Property Tax (LPT) is a market value based self-assessed charge. It is based on bands of €50,000 in width for properties valued between €100,001 and €1,000,000. The amount payable is determined by the mid-point of the relevant band. For properties valued at...

Written Answers — Department of Finance: Building Regulations Application (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out in detail how the tax is to be administered and provides how a residential property is to be valued for LPT purposes. I am advised by the Revenue Commissioners that Local Property Tax (LPT) is a self-assessment tax so in the first instance it is a matter for the property owner to calculate the tax due based on his or her...

Written Answers — Department of Finance: Employment Rights Issues (16 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that a letter issued on 12 April 2013 to the previous employer of the person in question, requesting a P45.

Written Answers — Department of Finance: Property Taxation Exemptions (16 Apr 2013)

Michael Noonan: Damage to homes during the construction of the Dublin Port Tunnel is not relevant in determining liability to Local Property Tax (LPT). Accordingly, whilst those whose homes were damaged during the works may be exempt from LPT for another reason, or may be entitled to avail of a deferral arrangement under the provisions contained in the legislation, there is no specific exemption in this...

Written Answers — Department of Finance: Illicit Trade in Tobacco (16 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that combatting the illegal tobacco trade is, and will continue to be, a very high priority for them. The Commissioners’ “Strategy on Combating the Illicit Tobacco Trade (2011-2013)”, which is published on the Revenue website (www.revenue.ie), includes a wide range of measures designed to target those engaged in the supply and...

Written Answers — Department of Finance: Property Taxation Exemptions (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out when the charge to Local Property Tax (LPT) applies. A liability for LPT will arise where a person owns a residential property which is in use, or is suitable for use as a dwelling, on the liability date which is 1 May 2013 for the year 2013. I am informed by the Revenue Commissioners that the charge to LPT arises whether the...

Written Answers — Department of Finance: Disabled Drivers Grant Applications (16 Apr 2013)

Michael Noonan: The disability criteria for eligibility for tax concessions under the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme are set out in the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994. To get the Primary Medical Certificate, an applicant must be severely and permanently disabled and satisfy one of the following conditions: a) be wholly or...

Written Answers — Department of Finance: Credit Unions Liabilities (16 Apr 2013)

Michael Noonan: These investments by credit unions referred to in the question had a structured deposit element which is covered by the Deposit Guarantee Scheme (DGS) for the first €100,000. However, at the time credit unions purchased this product there was no additional guarantee by the State and as such they are ranked as unsecured creditors in the IBRC liquidation process. Credit unions, as part...

Written Answers — Department of Finance: Property Taxation Collection (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 has introduced provisions making owners of residential property liable for payment of Local Property Tax (LPT). The Government has assigned responsibility to the Revenue Commissioners for all aspects of the administration of LPT including where necessary collection enforcement against individuals who choose not to pay. It is important to note that...

Written Answers — Department of Finance: Mortgage Resolution Processes (16 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 217 and 308 together. On 13 March 2013 the Central Bank announced new measures to address mortgage arrears, including the publication of performance targets for the main mortgage banks. Performance targets have been set for: - ACC; - AIB; - Bank of Ireland; - KBC Bank Ireland; - Permanent TSB; and - Ulster Bank. The specific targets...

Written Answers — Department of Finance: Property Taxation Collection (16 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that a wide range of payment options have been made available to liable persons, which will allow them to pay their Local Property Tax (LPT) liability for 2013 in full or by way of phased payments between July and December 2013. This range of options available means that property owners can choose a method of payment that suits their particular...

Written Answers — Department of Finance: Banks Recapitalisation (16 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 219 to 221, inclusive, and 250 together. The Deputy will be aware that when this Government took office it attempted to enforce burden sharing with senior unguaranteed bondholders in particular institutions that were no longer core elements of the Irish financial system. Intensive discussions were held with our European partners and particularly President...

Written Answers — Department of Finance: Property Taxation Exemptions (16 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered. In the first instance, a liability for Local Property Tax (LPT) will arise where a person owns a residential property which is in use, or is suitable for use as a dwelling, on the liability date which will be 1 May 2013 for the year 2013. Where construction of a house is not completed until...

Written Answers — Department of Finance: Tax Code (16 Apr 2013)

Michael Noonan: Any proposals to maintain the 9% rate into 2014 will be considered in the context of Budget 2014.

Written Answers — Department of Finance: Banking Sector Remuneration (16 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 224, 248, 265, 270, 309 and 310 together. When publishing the Review of Remuneration Practices and Frameworks at the Covered Institutions, on 12 March 2013, I indicated that the Government had formed the view that with the remaining covered institutions still incurring losses it was an inescapable conclusion that the cost base of the institutions needs to be...

Written Answers — Department of Finance: Tax Code (16 Apr 2013)

Michael Noonan: As a result of maternity benefit payments becoming liable to income tax for all claimants, from 1 July 2013, a number of possible tax outcomes could arise: 1. An individual may pay no income tax on their maternity benefit payment as their tax credits will be sufficient to reduce their tax liability to zero. 2. An individual may pay income tax on some or all of their maternity benefit...

Written Answers — Department of Finance: State Banking Sector (16 Apr 2013)

Michael Noonan: At its recent results briefing, Bank of Ireland indicated that it was considering a range of options relating to its preference shares issuance. I can confirm to the Deputy that officials in the Department of Finance, as part of their regular interaction with Bank of Ireland management, have discussed options regarding the State’s current holding of €1.8bn of preference shares....