Results 12,621-12,640 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Collection (17 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the delay in implementing the preferred Local Property Tax (LPT) payment option in this case occurred because the person in question is not a recipient of the pension type selected on the LPT 1 Return. I understand the LPT deduction at source scheme for Department of Social Protection (DSP) pensions operates by Revenue advising DSP of the...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (17 Oct 2013)

Michael Noonan: I propose to answer questions 70 and 74 together. It is important to note that the contractual terms and conditions of customer mortgages and other borrowings have not changed as a result of the appointment of the Special Liquidators to IBRC nor will they change as a result of the ultimate sale of these obligations to a third party. The Special Liquidators have given significant...

Written Answers — Department of Finance: Government Deficit (17 Oct 2013)

Michael Noonan: The following table shows general government interest as a proportion of GDP each year since 2009 (including the projected amount for the current year and 2014). Interest as proportion of GDP - - - - - - - 2009 2010 2011 2012 2013f 2014f General government Interest (€ millions) 3,295 4,974 5,325 6,135 7,645 8,190 GDP (at current market prices) 162,284 158,097...

Written Answers — Department of Finance: Credit Unions Issues (17 Oct 2013)

Michael Noonan: The Question is referring to the proposed combination between Newbridge Credit Union and Naas Credit Union. The parties involved in this proposed combination are bound by confidentiality agreements and non-disclosure requirements which ensure that no personal data has been compromised. The Central Bank has confirmed that all parties have been and remain fully conscious of obligations...

Written Answers — Department of Finance: Tax Reliefs Eligibility (17 Oct 2013)

Michael Noonan: This PQ appears to be a follow up to PQ 32144/13 wherein we explained that a hospital had to be approved by the Minister for Finance in consultation with the Minister for Health. With regard to claims in respect of tax relief for qualifying health expenses where the relevant health care is obtained outside the State, the following is the current position: - (a) the health expenses are...

Written Answers — Department of Finance: Mortgage Debt (17 Oct 2013)

Michael Noonan: The Special Liquidators are obligated to ensure that the assets of IBRC are sold at a price which maximises the overall return for its creditors including the State. As a result the Special Liquidators are currently in the process of devising and implementing a sales process in respect of these assets. I have been advised by the Special Liquidators that the valuation process is on- going and...

Written Answers — Department of Finance: Promissory Note Issues (17 Oct 2013)

Michael Noonan: Prior to the promissory note restructuring I would have had to make provision for a cash payment of €3.1 billion to IBRC in 2014 consisting of €1.8 billion in interest and €1.3 billion in repayment of principal. Under the statistical rules governing the Deficit calculation only promissory note interest costs of €1.8 billion would have been recorded in 2014. The...

Written Answers — Department of Finance: Property Taxation Administration (17 Oct 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered and how a residential property is to be valued for Local Property Tax (LPT) purposes. I note that the Deputy raised a similar question in July this year. In my reply to that question (No. 65 on 17 July 2013, 35714/13) I informed the House that, as Local Property Tax (LPT) is a self-assessed...

Written Answers — Department of Finance: Tax Reliefs Application (17 Oct 2013)

Michael Noonan: I am informed by the Revenue Commissioners that, subject to certain conditions, landlords may deduct 75% of the interest on money borrowed to purchase, improve or repair residential property from the gross rent when computing their rental profits for tax purposes on that property. Interest incurred before the first occupation of the property by a tenant for the purposes of a trade or...

Written Answers — Department of Finance: Property Taxation Administration (17 Oct 2013)

Michael Noonan: I am informed by Revenue that a key aspect of the work undertaken in regard to Local Property Tax (LPT) was the development of a comprehensive register of residential properties in the State. During the development process, matching difficulties were encountered when drawing the various data sources together, and in some instances the information available was incorrect. As part of its...

Written Answers — Department of Finance: Illicit Trade in Tobacco (22 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 124 to 127, inclusive, together. I am advised by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and for tackling the smuggling and sale of illicit tobacco products, that they view this criminal activity as a very serious matter, and that combating the illegal tobacco trade is, and will continue to be, a high priority...

Written Answers — Department of Finance: Health Insurance Prices (22 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 128 and 167 together. The position is that from 16 October 2013, tax relief for medical insurance premiums will be restricted to the first €1,000 per adult and the first €500 per child insured. Any portion of premium paid in excess of these ceiling will no longer qualify for tax relief. The new ceilings will ensure continuing support via the...

Written Answers — Department of Finance: Defined Benefit Pension Schemes (22 Oct 2013)

Michael Noonan: The revenues arising to the Exchequer from the stamp duty levy on pension fund assets are, in common with Exchequer revenues generally, not hypothecated to any particular item of expenditure or liability but have been used to help fund the various measures introduced by the Jobs Initiative. One of the very significant and successful measures introduced by the Jobs Initiative - the reduced VAT...

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

Michael Noonan: I am advised that the contractual terms and conditions of customer mortgages and other borrowings will not change as a result of the appointment of the Special Liquidators or the ultimate sale of the obligations to a third party. The continued applicability of the Central Bank Code of Conduct on Mortgage Arrears and Mortgage Arrears Targets Programme will depend on the regulatory status of...

Written Answers — Department of Finance: Property Taxation Administration (22 Oct 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered and how a residential property is to be valued for Local Property Tax (LPT) purposes. As I told the House in my reply to the Deputy's Question No. 77 (44072/13) on 17 October 2013, Local Property Tax (LPT) is a self-assessed tax so it is a matter for the property owner to calculate the tax due...

Written Answers — Department of Finance: Budget Submissions (22 Oct 2013)

Michael Noonan: I can confirm that the Pre-Budget Submission to which the Deputy refers was received by my Department on 14 October 2013 and I would note that to date we have received in excess of 600 submissions in the context of Budget 2014. However the issues which the Deputy raises relate to expenditure policy and as such are primarily matters for some of my Ministerial colleagues rather than for me as...

Written Answers — Department of Finance: Budget Submissions (22 Oct 2013)

Michael Noonan: Prior to Budget 2014 my Department received one request for costings from a political party and two from individual Deputies. Such requests are handled by my officials on a confidential basis and as such I cannot provide further details to the Deputy.

Written Answers — Department of Finance: Credit Unions Regulation (22 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 134 and 150 together. On 13 January 2012, the Central Bank of Ireland secured a High Court Order for the appointment of a Special Manager to Newbridge Credit Union. Further High Court applications were made to extend the term of appointment of the Special Manager, the latest being in June 2013, and High Court Orders were secured for a 6 month extension...

Written Answers — Department of Finance: VAT Exemptions (22 Oct 2013)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, currently 23%. There is no provision in the EU VAT Directive that would make it possible to exempt from VAT or apply a zero rate to the supply of such products. Under the VAT...

Written Answers — Department of Finance: Tax Reliefs Availability (22 Oct 2013)

Michael Noonan: Relief in respect of health expenses is allowed in accordance with the provisions of section 469 of the Taxes Consolidation Act 1997. In order to qualify for relief an individual must show that he or she has incurred “health expenses” for the provision of “health care”. It is not the case that all expenses incurred on health care qualify for relief. For the...