Results 12,881-12,900 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Credits (12 Nov 2013)

Michael Noonan: As the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. This scheme will run from 25 October 2013 to 31 December 2015 and provides for tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. Qualifying expenditure is expenditure subject...

Written Answers — Department of Finance: Tax Exemptions (12 Nov 2013)

Michael Noonan: As the Deputy is aware, I announced the Start Your Own Business incentive in the recent Budget. This incentive is an exemption from Income Tax for individuals who have been long-term unemployed and start a new, un-incorporated business. An exemption from Income Tax will be provided on profits up to a maximum of €40,000 for the first two years of trading. However, USC and PRSI will...

Written Answers — Department of Finance: Tax Credits (12 Nov 2013)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit (OPFTC) 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 OPFTC and will also carry the same entitlement to the extended standard rate tax band of €36,800 per annum. The new credit will be...

Written Answers — Department of Finance: Tax Credits (12 Nov 2013)

Michael Noonan: As the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. This scheme will run from 25 October 2013 to 31 December 2015 and provides for tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. Qualifying expenditure is expenditure subject...

Written Answers — Department of Finance: Tax Credits (12 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the person in question had been in receipt of the One Parent Family Tax Credit for a number of years. It subsequently came to Revenue’s attention that he had been residing with his partner for the years concerned. Consequently, the credit was withdrawn from the person concerned in accordance with section 462 (2)(c) of the Taxes...

Written Answers — Department of Finance: Revenue Complaint and Review Procedures (12 Nov 2013)

Michael Noonan: The Revenue Commissioners devote a great deal of time and effort to providing a top quality service to customers. Their objective is to apply the law in a fair, consistent and sensible manner and to treat people in an even-handed way, presuming their honesty and giving them respect and courtesy. Where issues arise between a customer and Revenue the experience is that most can be resolved in...

Written Answers — Department of Finance: Tax Code (12 Nov 2013)

Michael Noonan: Under the regulations known as the “Two-Pack” which were formally adopted on 30th May 2013, a common budgetary timeline is being introduced for all Euro Area member states. Specifically: the draft budget for central government and the main parameters of the draft budgets for all the other sub-sectors of the general government must be published by the 15th of October each year;...

Written Answers — Department of Finance: Universal Social Charge Application (12 Nov 2013)

Michael Noonan: The standard rates of Universal Social Charge for 2013, for P.A.Y.E. workers are: 2% on the first €10,036 of income; 4% on the next €5,980; 7% on the balance. In the case of an individual with a medical card and income of €60,000 per annum or less, the Universal Social Charge rates for 2013 are: 2% on the first €10,036 of income; 4% on all income over that amount....

Written Answers — Department of Finance: Property Taxation Exemptions (12 Nov 2013)

Michael Noonan: I am advised by Revenue that, in the case to which the Deputy refers, the deduction from wages was not in respect of the person’s primary residence, which is exempt from Local Property Tax (LPT). The person in question was linked to a second property on the basis of records imported by Revenue from another Government agency database during the development of the Property Register. It...

Written Answers — Department of Finance: Tax Collection (12 Nov 2013)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. I am informed by the Revenue Commissioners that CAT is a self assessment tax ordinarily payable electronically through Revenue’s Online System (ROS). Where the valuation date for a gift or an inheritance is in the period 1 January to 31 August, a CAT return and payment of CAT due must be made by 31...

Written Answers — Department of Finance: Banking Sector Issues (12 Nov 2013)

Michael Noonan: The covered institutions have provided me with the following details regarding their mortgage books. As the Deputy will be aware the Central Bank of Ireland is currently undertaking an asset quality review and the question of loan to value and underlying collateral value is being looked at as part of this exercise. Bank of Ireland Bank of Ireland’s annual report for the year to 31...

Written Answers — Department of Finance: Banking Sector Issues (12 Nov 2013)

Michael Noonan: Unfortunately my Department has been unable to obtain the information requested by the Deputy in the time available. I will write to the Deputy directly with the information as soon as it becomes available.

Written Answers — Department of Finance: Tax Reliefs Availability (12 Nov 2013)

Michael Noonan: I have been informed that no discussions took place between lending institutions and officials from the tax side of the Department in advance of the introduction of the Home Renovation Incentive. In relation to the introduction of lending schemes in this area, I received the following information from the institutions mentioned: AIB AIB responded that they already support customers who...

Written Answers — Department of Finance: Budget Measures (12 Nov 2013)

Michael Noonan: I can confirm that I did not receive any representations from Danske Bank or ACC in the run up to the Budget, and neither I nor officials of my Department met with personnel from those Banks with regard to any Budget measures. I do not believe that measures announced in Budget 2014, including the increase in Deposit Interest Retention Tax and the levy on financial institutions, had any...

Written Answers — Department of Finance: Departmental Expenditure (12 Nov 2013)

Michael Noonan: Unfortunately my Department has been unable to obtain the information requested by the Deputy in the time available. I will write to the Deputy directly with the information as soon as it becomes available.

Written Answers — Department of Finance: Departmental Expenditure (12 Nov 2013)

Michael Noonan: Unfortunately my Department has been unable to obtain the information requested by the Deputy in the time available. I will write to the Deputy directly with the information as soon as it becomes available.

Written Answers — Department of Finance: Banking Sector Issues (12 Nov 2013)

Michael Noonan: The Government remains committed to ensuring a sound sustainable and innovative banking system capable of driving economic growth and job creation while providing banking services to the population at large in a way that is fair and just. Working closely with the Central Bank of Ireland, we aim to secure both financial stability and an effective banking sector, while safeguarding the...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (12 Nov 2013)

Michael Noonan: In anticipation of the passing of legislation establishing the Ireland Strategic Investment Fund (ISIF) with a mandate to invest on a long-term commercial basis to support economic activity and employment in Ireland, the National Pensions Reserve Fund (NPRF), within the constraints of its existing mandate, has committed to a number of investments dedicated to providing equity and debt capital...

Written Answers — Department of Finance: Property Taxation Assessments (12 Nov 2013)

Michael Noonan: I am advised by Revenue that the development of the Local Property Tax (LPT) Register required it to extract and consolidate data from multiple sources including various Government and non-Government agencies. The process involved consolidating data for approximately two million records, some of which were difficult to match because of variations in addresses and names held by different...

Written Answers — Department of Finance: VAT Rate Reductions (12 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the supply of dog grooming services is liable to VAT at the standard rate, currently 23%. Paragraph 21(3) of Schedule 3 to the Value-Added Tax Consolidated Act 2010 provides that the supply of services “of a kind supplied in the course of their profession by veterinary surgeons” is liable at the 13.5% reduced VAT rate. If...