Results 12,781-12,800 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Exchequer Revenue (5 Nov 2013)

Michael Noonan: A temporary 0.6% stamp duty levy on pension fund assets was introduced in the Finance (No.2) Act 2011 as a measure to fund the Jobs Initiative. This was estimated to yield €470 million a year for 4 years. The Revenue Commissioners have advised me that receipts amounted to €463 million in 2011 and €483 million in 2012. This is broadly in line with the amounts anticipated...

Written Answers — Department of Finance: Pensions Levy Issues (5 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 196 to 199, inclusive, together. I announced in my recent Budget speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 will be abolished from the 31st of December 2014. I will however, introduce an additional levy on pension funds at 0.15%. I am doing this to continue to help fund the Jobs Initiative, including the...

Written Answers — Department of Finance: Pensions Levy Issues (5 Nov 2013)

Michael Noonan: The additional 0.15% stamp duty levy on pension fund assets will apply for 2014 and 2015. I have no plans to change this measure.

Written Answers — Department of Finance: Tax Reliefs Availability (5 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 201 and 224 together. The Living City Initiative is a pilot scheme, designed to encourage people back to the centre of Irish cities to live in historic buildings and encourage the regeneration of the retail heartland of central business districts. The initial pilot will be a targeted scheme to enable an assessment to be made as to the effectiveness of the...

Written Answers — Department of Finance: Government Deficit (5 Nov 2013)

Michael Noonan: In the answer to Parliamentary Question No. 90 of 24 October this year I provided a breakdown of the measures that made up the budgetary adjustment contained in Budget 2014. This included an estimate of around €0.5 billion in revenue carryover. The most significant element of this carryover is an estimated €300 million from the Local Property Tax. It also contains €120...

Written Answers — Department of Finance: Tax Code (5 Nov 2013)

Michael Noonan: As I understand it, the Deputy’s question appears to concern the provision of a tax deduction from general income equivalent to the amount of taxable rental income arising from the letting out of unsuitable family accommodation in circumstances where the family is renting a property more suitable to their needs. I am informed by the Revenue Commissioners that rental income for tax...

Written Answers — Department of Finance: National Debt (5 Nov 2013)

Michael Noonan: As I outlined in my Budget Day speech, in order to achieve a General Government deficit of 4.8% of GDP in 2014, a total adjustment package of the order of €3.1 billion is required. This adjustment package comprises €2.5 billion in expenditure cuts and revenue increases, complemented by additional resources/other savings of some €0.6 billion. As part of the additional...

Written Answers — Department of Finance: Tax Exemptions (5 Nov 2013)

Michael Noonan: Officials of my Department are continuing to explore with the National Treasury Management Agency (NTMA) whether or not exemptions available under the Third Money Laundering Directive (2005/60/EC) and its Implementing Directive (2006/70/EC) may be applied to small value purchases of prize bonds facilitated on behalf of the State by An Post and the Prize Bond Company.

Written Answers — Department of Finance: Property Taxation Assessments (5 Nov 2013)

Michael Noonan: I am advised by Revenue that a key component of the work undertaken in connection with the administration of Local Property Tax (LPT) was the development of a register of residential properties in the State. The development of the Property Register required Revenue to extract and consolidate data in relation to approximately 2 million individual property records from across multiple sources...

Written Answers — Department of Finance: Tax Code (5 Nov 2013)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit is being replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The Single Person Child Carer Tax Credit will be of the same value, i.e. €1,650, as the existing One-Parent Family Tax Credit and will also carry the same entitlement to the extended standard rate tax band of €36,800 per annum. The new...

Written Answers — Department of Finance: Property Taxation Collection (5 Nov 2013)

Michael Noonan: I am advised by Revenue that it outlined the sequence of events that led to the Local Property Tax (LPT) payment difficulties in this case when responding to the Deputy’s previous Question on the issue (Question No. 14 on 15 October 2013, 43163/13). Revenue also acknowledged and apologised for the error at that time. In summary, the property in question was not included on...

Written Answers — Department of Finance: Bank Codes of Conduct (5 Nov 2013)

Michael Noonan: As the deputy will be aware for contractual confidentiality reasons AIB is precluded from discussing or divulging details of individual customer accounts. However I am advised by the Bank that all customers are dealt with fairly and in line with AIB’s existing bank credit & lending policies. Where customers are experiencing financial difficulty I would encourage them to...

Written Answers — Department of Finance: Health Insurance Prices (5 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 211 and 212 together. I am advised by the Revenue Commissioners that based on 2012 data, the most up to date data available, it is estimated that up to 577,000 policy holders, which provide cover for 1.1 million individuals, may be affected by this measure. The Revenue estimate is based on an analysis carried out on the annual returns and the gross premium...

Written Answers — Department of Finance: Property Taxation Assessments (5 Nov 2013)

Michael Noonan: I am advised by Revenue that a valuation band adjustment was not made to the property to which the Deputy refers because the original correspondence sent to Revenue in relation to the issue was not received. As a consequence, Revenue based the 2014 liability on the 2013 LPT declaration, which confirmed that the value of the property in question was within Band 3 (€150,000 to ...

Written Answers — Department of Finance: NAMA Portfolio Issues (5 Nov 2013)

Michael Noonan: NAMA is subject to similar legal requirements as other lenders that preclude it from disclosing details relating to its debtors or their properties. As the Deputy is aware, NAMA operates a specific Guidance Note to facilitate tenants in making an application through their landlord for a reduction in rent on upward-only commercial leases relating to business premises that secure its loans. ...

Written Answers — Department of Finance: Tax Code (5 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 218 to 220, inclusive, together. It is difficult to be definitive about the number of individuals that may be affected by the changes to the Standard Fund Threshold (SFT) regime. Among other reasons, this is because the changes are likely to have both direct impacts and indirect behavioural impacts. The direct impacts will be on individuals whose pension...

Written Answers — Department of Finance: Tax Code (5 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that based on the most up to date data it is estimated that up to 15,400 individuals may be affected by the restriction of the restructured credit to the principal carer. However, ultimately it will depend on the circumstances of each individual carer and the allocation of childcare responsibilities, which is primarily for parents to agree.

Written Answers — Department of Finance: IBRC Issues (5 Nov 2013)

Michael Noonan: The Statement of Affairs was submitted by the former directors of the Irish Bank Resolution Corporation (now in Special Liquidation) on the 30th September and was then made available to any creditor of the bank who requested a copy. The Department is aware that the Statement was leaked and published on-line. The Special Liquidators confirm that they have seen no evidence that there was...

Written Answers — Department of Finance: Budget 2014 (5 Nov 2013)

Michael Noonan: I want to be absolutely clear. The Troika did not receive any advance draft of the Budget. Officials from my Department and the Department of Public Expenditure & Reform did however travel to Brussels to meet with the Troika in advance on the Budget where the broad parameters of Budget 2014 were discussed. As is wholly appropriate, members of the Dáil are the first to view...

Written Answers — Department of Finance: Budget 2014 (5 Nov 2013)

Michael Noonan: Prior to Budget 2014 I received in excess of 500 pre-Budget submissions from many sources. This would have included a variety of organisations, representative groups and individual members of the public. Many of the submissions would also have covered a wide range of issues that would already have been under consideration in the Budget process. Submissions would have been recorded and...