Results 11,141-11,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Exemptions (22 May 2013)

Michael Noonan: While there is no specific exemption from or reduction in the charge to Local Property Tax (LPT) for families dependant on the One Parent Family Payment, the deferral arrangements in the Finance (Local Property Tax) Act 2012, as amended, are focused on particular categories of householders and address cases where there is an inability to pay. For individuals on low incomes or those whose...

Written Answers — Department of Finance: Property Taxation Collection (22 May 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the payment option mentioned by the Deputy is the ‘once off’ ‘Single Debit Authority’ (SDA). SDA operates like an electronic cheque and facilitates liable persons who wish to pay their LPT liability in one full payment, and is deducted directly from their bank account no earlier than 21 July 2013. For liable persons...

Written Answers — Department of Finance: Bank Guarantee Scheme (22 May 2013)

Michael Noonan: I presume the Deputy when referring to the bank guarantee scheme means the Eligible Liabilities Guarantee Scheme 2009 (ELG Scheme) as amended. Those assets of an approved retirement fund which qualify as eligible liabilities under the ELG Scheme, including cash deposits, are covered by the Scheme. The Deputy will be aware that I announced on 26 February, 2013, the ending of the ELG Scheme...

Written Answers — Department of Finance: Housing Grants (22 May 2013)

Michael Noonan: It is a longstanding practice of the Minister for Finance not to comment on any tax matters that might be the subject of Budget decisions. However, I will consider the Deputy’s proposal in the context of the forthcoming Budget and Finance Bill. In addition, I would draw the Deputy’s attention to existing grants available from the Sustainable Energy Authority of Ireland (SEAI)...

Written Answers — Department of Finance: Property Taxation Collection (22 May 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) provides that Revenue is responsible for the administration of Local Property Tax (LPT) and how a residential property is to be valued for LPT purposes. It was necessary for Revenue, in the role of administrator of the Local Property Tax, to develop a Register of residential properties in the State. The Register was developed using data...

Written Answers — Department of Finance: Debt Resolution Pilot Scheme (22 May 2013)

Michael Noonan: The Central Bank has advised that it has been agreed among the lender participants to use an independent third party service provider as the most appropriate way to engage with borrowers, whose consent to participate will be sought and required to take part in the pilot. I am informed by the Central Bank that discussions are underway to determine the most appropriate provider and that no...

Written Answers — Department of Finance: Disability Act Employment Targets (22 May 2013)

Michael Noonan: The civil and public service is an equal opportunities employer and all recruitment campaigns are conducted in strict compliance with the Codes of Practice set out by the Commission for Public Service Appointments. Public service bodies are subject to specific legal obligations in the Disability Act 2005. Part 5 of the Act sets out the following requirement of public service bodies: - to...

Written Answers — Department of Finance: IBRC Liquidation (22 May 2013)

Michael Noonan: I have been advised by the Special Liquidators that they have engaged specialist advisors who are to provide advice as to whether a loan should be sold individually or as part of a portfolio in order to ensure that the maximum value is obtained for that asset within the instructed timeframe. The decision concerning how the loans will be packaged for sale is to be made by the Special...

Written Answers — Department of Finance: IBRC Liquidation (22 May 2013)

Michael Noonan: I have been advised by the Special Liquidators that they have engaged specialist advisors who are to provide advice as to whether a loan should be sold individually or as part of a portfolio in order to ensure that maximum value is obtained for that asset within the instructed timeframe. The decision concerning how the loans will be packaged for sale is to be made by the Special Liquidators....

Written Answers — Department of Finance: Financial Services Regulation (22 May 2013)

Michael Noonan: The salary of the Deputy Governor (Financial Regulation) in 2011 and 2012 was €340,000 per annum. No other benefits were paid to the Deputy Governor (Financial Regulation) in 2011 and 2012.

Written Answers — Department of Finance: IBRC Mortgage Loan Book (22 May 2013)

Michael Noonan: I have been informed by the Special Liquidators that the information requested is commercially sensitive and that it would not be appropriate for the Special Liquidators to release information outside of what is already published in IBRC’s annual or interim accounts. The Special Liquidators will not be publishing any confidential commercially sensitive financial information which...

Written Answers — Department of Finance: Bank Debt Restructuring (22 May 2013)

Michael Noonan: I have been provided with the following information by the banks. For commercial confidentiality reasons AIB does not publicly disclose details of bankruptcy cases in Northern Ireland or in any jurisdiction. AIB considers each person's circumstances on a case by case basis. However, in all cases, AIB will continue to adopt an approach which best protects AIB's financial and legal position...

Written Answers — Department of Finance: NAMA Property Rental (22 May 2013)

Michael Noonan: I have been informed by NAMA that the average of €100 million per month recurring non-disposal income is based on its average monthly cash receipts from NAMA Debtors in respect of its acquired portfolio of loans and derivatives. The income is principally generated from rental income. NAMA does not currently report on the components of such income.

Written Answers — Department of Finance: NAMA Property Sales (22 May 2013)

Michael Noonan: The sale of assets and loans by NAMA is an operational matter for the Board of NAMA and, as the Deputy is aware, NAMA is, in accordance with Section 57 of the National Asset Management Act 2009, subject to audit by the Comptroller and Auditor General. I do not, therefore, intend to comment on the management and outcome of individual NAMA transactions. NAMA advises that the transaction to...

Written Answers — Department of Finance: Outright Monetary Transaction Scheme Participation (22 May 2013)

Michael Noonan: I propose to take Questions Nos. 79 to 81, inclusive, together. The Governing Council of the ECB made a decision to establish Outright Monetary Transaction (OMT) on 2 August 2012, and issued a Press Release on 6 September 2012 which outlined its technical features. According to this ECB Press Release, the purpose of OMT is “Safeguarding an appropriate monetary policy transmission...

Written Answers — Department of Finance: Mortgage Debt (22 May 2013)

Michael Noonan: The Central Bank’s statutory Code of Conduct on Mortgage Arrears (CCMA) sets out, inter alia, the 5 step Mortgage Arrears Resolution Process (MARP) that lenders must have in place for dealing with mortgage arrears cases. The 5 steps are as follows: Step 1: Communication with borrowers; Step 2: Financial information; Step 3: Assessment; Step 4: Resolution; and Step 5: Appeals. A...

Written Answers — Department of Finance: Banking Sector Regulation (22 May 2013)

Michael Noonan: A range of reforms have been introduced to underpin a more effective and efficient financial regulatory regime including the Central Bank Reform Act 2010 which gave effect to significant structural changes in the operation of financial regulation. The Central Bank (Supervision and Enforcement) Bill, which is before the House at the moment, introduces further reform in strengthening the powers...

Written Answers — Department of Finance: Tax Reliefs Cost (22 May 2013)

Michael Noonan: Section 14 of Finance Act 2012 introduced the Special Assignee Relief Programme (SARP) which is designed to reduce the cost to employers of assigning key individuals in their companies from abroad to take up positions in the Irish based operations of their employer. Paragraph 10 of Section 14 provides that relevant employers must submit an annual return to the Revenue Commissioners...

Written Answers — Department of Finance: Tax Reliefs Cost (22 May 2013)

Michael Noonan: Section 12 of Finance Act 2012 provided for a limited tax deduction for individuals who temporarily carry out the duties of their office or employment in Brazil, Russia, India, China or South Africa. The provision applies as respects the years 2012, 2013 and 2014. I am informed by the Revenue Commissioners that the first year of the programme was 2012 and the relevant details of tax claims...

Written Answers — Department of Finance: Mortgage Interest Relief Extension (22 May 2013)

Michael Noonan: The position is that tax relief is available, at varying rates and subject to certain ceilings, in respect of interest paid by an individual on a loan used for the purchase, repair, development or improvement of his/her sole or main residence. The relief is available up to and including the tax year 2017 on the interest paid on qualifying home loans taken out in the period 2004 to 2012. ...