Results 10,221-10,240 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Administration (18 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the Local Property Tax is a self-assessed tax so in the first instance it is a matter for the property owner to calculate the tax due based on his or her assessment of the chargeable value of the property. The chargeable value is defined in the Finance (Local Property Tax) Act 2012, as amended, and means the price that the unencumbered fee...

Written Answers — Department of Finance: Tax Collection (18 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the examination of the documentation in the case referred to is close to completion, and that the executor was advised of this earlier this week. The delay in completing the examination is regretted, and has been exacerbated due to the size and complexity of the estate. Revenue has recently been advised of significant additional assets in the...

Written Answers — Department of Finance: Property Taxation Collection (18 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that a wide range of different payment options have been put in place to assist people in meeting their Local Property Tax (LPT) obligations, including phased payments and the facility to pay by cash. Revenue’s strategy in this regard is to ensure taxpayers have a choice of payment options available to them from which they can choose the...

Written Answers — Department of Finance: Property Taxation Application (18 Apr 2013)

Michael Noonan: Based on the information provided by the Deputy it is not possible to give a definitive reply. However, by way of general information the following may be of relevance in this case. I have been informed by the Revenue Commissioners that the liable person in relation to a residential property is generally the owner of the property for the purposes of the charge to LPT. This is on the basis...

Written Answers — Department of Finance: Banking Operations (18 Apr 2013)

Michael Noonan: The State supported banks have provided me with the following information. Bank of Ireland In certain cases Bank of Ireland will require a customer to sign a Confidentiality Agreement prior to entering into discussions in relation to the formulation of alternative arrangement/restructuring. The reason for this is that Bank of Ireland treats customers on a case by case individual basis and,...

Written Answers — Department of Finance: Banking Sector Remuneration (18 Apr 2013)

Michael Noonan: 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 reduced further. This is essential if they are to return to profitability,...

Written Answers — Department of Finance: Household Charge Collection (18 Apr 2013)

Michael Noonan: I am informed by my colleague, the Minister for the Environment, Community and Local Government, that under the Local Government (Household Charge) Act 2011 an owner of a residential property on the liability date is liable to pay the Household Charge, unless otherwise exempted or entitled to claim a waiver. It is a matter for an owner of a residential property to determine liability and pay...

Written Answers — Department of Finance: Property Taxation Administration (18 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 67, 71 and 72 together. I am informed by the Revenue Commissioners that a key aspect of the work they have undertaken in connection with Local Property Tax (LPT) has been the development of a register of residential properties in the State, which is the cornerstone of the new tax. The Register was developed using data drawn from a range of sources including...

Written Answers — Department of Finance: Tax Reliefs Availability (18 Apr 2013)

Michael Noonan: Income tax relief in respect of health expenses is allowable in accordance with section 469 of the Taxes Consolidation Act 1997. This legislation provides for tax relief for health expenses incurred in the provision of health care. Health care is defined for the purposes of that legislation as the prevention, diagnosis, alleviation or treatment of an ailment, injury, infirmity, defect or...

Written Answers — Department of Finance: Property Taxation Collection (18 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) provides that a liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date which will be 1 May 2013 for the year 2013. As LPT is a self-assessed tax it will be a matter for the property owner to calculate the tax due based on his or her assessment of the market value of the...

Written Answers — Department of Finance: Property Taxation Administration (18 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) provides that a liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date which will be 1 May 2013 for the year 2013. The 2012 Act provides that the State or other public bodies, including local authorities, will be liable for LPT on their properties in the same way as any other...

Written Answers — Department of Finance: Property Taxation Administration (18 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the Collector-General will accept payment by cheque of Local Property Tax (LPT) from owners of a single property. The LPT legislation provides that owners of multiple properties must file their LPT returns and pay their LPT online so cheque payment is not an option for this category of liable persons. In circumstances where a single property...

Written Answers — Department of Finance: Mortgage Interest Relief (18 Apr 2013)

Michael Noonan: This is a matter for the Revenue Commissioners who are responsible for the administration of mortgage interest relief through the tax relief at source [TRS] system. I am advised by Revenue that this matter has been ongoing for some time and that the persons in question agreed a repayment schedule in June 2011. In November 2011 the persons contacted Revenue with a view to renegotiating the...

Written Answers — Department of Finance: Tax Yield (18 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated in terms of expected 2013 profits, of increasing the standard rate of corporation tax by 25% from 12.5% to 15.6%, is tentatively estimated on a straight line arithmetic basis to be about €928 million. While this estimate is technically correct it does not take into account any possible...

Written Answers — Department of Finance: Mortgage Arrears Rate (18 Apr 2013)

Michael Noonan: The Central Bank has advised me that it does not publish a breakdown of its quarterly mortgage arrears statistics in the format requested by the Deputy. However, the Deputy may wish to note that the Central Bank commissioned a survey of households with mortgage debt in 2012. The purpose of the survey is to identify any changes in the income and consumption patterns of mortgage holders...

Written Answers — Department of Finance: Central Bank Property (18 Apr 2013)

Michael Noonan: The Central Bank owns four premises in Dame St, including the landmark Tower Building. It also leases premises in Spencer Dock in the Docklands and Iveagh Court near Harcourt St. It is the intention of the Central Bank to develop disposal proposals for the Dame Street buildings. Due regard will be given to the public interest and maximising the return to the Central Bank in decision making...

Written Answers — Department of Finance: IBRC Staff (18 Apr 2013)

Michael Noonan: I have been advised by the Special Liquidators that they have only experienced co-operation and support from employees to date.

Written Answers — Department of Finance: Insurance Industry Issues (18 Apr 2013)

Michael Noonan: The Deputy should note at the outset that the State no longer has any outstanding liability in respect of claims against the Insurance Corporation of Ireland. In this regard the administrator of Icarom obtained the approval of the High Court on 27 November 2012 for a portfolio transfer of all of Icarom’s insurance liabilities to another regulated entity, EIFlow, in return for a...

Written Answers — Department of Finance: Eligible Liabilities Guarantee Scheme (18 Apr 2013)

Michael Noonan: The Central Bank of Ireland report an amount of €68.349 bn. for outstanding liabilities covered under the Eligible Liabilities Guarantee scheme 2009 (ELG scheme) at end February, 2013, which is the latest available figure. Estimated ELG liabilities at end 2013, 2014, and 2015 as recently reported by the participating institutions are set out in the following table. 2013 2014...

Written Answers — Department of Finance: Central Bank of Ireland Issues (18 Apr 2013)

Michael Noonan: The Central Bank has not bought or sold gold holdings since 2005. The value of the Central Bank holdings of gold at the end of each year from 2005 to 2012 is set out in tabular form. Year Value (€m) 2012 266 (figure as at 28 December, year-end figure will be published in Annual Report) 2011 237 2010 204 2009 148 2008 120 2007 110 2006 93 2005 84