Results 12,901-12,920 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: The Inter-departmental group, chaired by Dr Don Thornhill, to consider the design of a property tax (the “Thornhill Group”) recommended that the Local Property Tax (LPT) paid in respect of a rented property should be deductible for income tax or corporation tax purposes, in a similar manner to commercial rates. The Government accepted the recommendation of the Thornhill Group...

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

Michael Noonan: I am advised by Revenue that Section 26 of the Finance (Local Property Tax) Act 2012 (as amended) provides that if a liable person has overpaid Local Property Tax (LPT) through a genuine error or mistake, then s/he is entitled to a repayment. In such circumstances the liable person should write to LPT Branch, PO Box 1, Ennis, Co Clare, clearly setting out how the overpayment arose. The...

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

Michael Noonan: I am advised by the Revenue Commissioners that there has been no delay in this case. I am advised that the taxpayer in question commenced employment on 17th June 2013 and they were notified of this by the employer on 24th June 2013. A Form 12A was issued to the person on 3rd July 2013 for completion to enable the issue of a Tax Credit Certificate and resolve the application of the emergency...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (12 Nov 2013)

Michael Noonan: The Special Liquidators have confirmed that the residential mortgage customers of IBRC Limited (in Special Liquidation) continue to enjoy the protection of the Central Bank Code of Conduct on mortgage arrears and other protections in Irish consumer law. I am advised that the contractual terms and conditions of customer mortgages and other borrowings will not change as a result of the...

Written Answers — Department of Finance: Tax Reliefs Availability (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. There is no VAT relief under this scheme....

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

Michael Noonan: Firstly, I should point out that it is the standard practice for the Minister for Finance to review all tax expenditures and reliefs in the run up to the annual Budget. As the Deputy may be aware, the cost of Income Tax relief in respect of medical insurance has increased significantly in recent years (estimated at €404 million in 2011, €448 million in 2012 and €500...

Written Answers — Department of Finance: International Agreements (12 Nov 2013)

Michael Noonan: The question of Ireland’s signature and ratification of the Antarctic Treaty and related agreements has been examined in some detail by the relevant Departments and Offices concerned. The Department of Finance has not been involved in this process and has not carried out any cost benefit analysis to assess the impact of Ireland’s signing of the Treaty.

Written Answers — Department of Finance: Mortgage Arrears Rate (12 Nov 2013)

Michael Noonan: The Central Bank commenced the quarterly publication of mortgage and mortgage arrears data from the period ending September 2009. The most recent available data, which is for the quarter ending June 2013, indicates that 12.7% of PDH mortgages and 20.4% of BTL mortgages were in arrears of more than 90 days. The full range of published mortgage arrears data is available on the Central...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (12 Nov 2013)

Michael Noonan: The Central Bank’s Code of Conduct on Mortgage Arrears (CCMA) is a statutory Code issued under Section 117 of the Central Bank Act 1989 and lenders are required to comply with the CCMA as a matter of law. The Deputy will be aware that the Central Bank’s revised CCMA came into effect from 1 July 2013. This followed an extensive consultation process where over 200 submissions...

Topical Issue Debate: Credit Unions (13 Nov 2013)

Michael Noonan: The decision to transfer assets and liabilities, excluding the premises, of Newbridge Credit Union to Permanent TSB was necessary to safeguard members' savings as the only alternative option available to the Central Bank was liquidation, which would have seen unprotected savings of in excess of €1 million lost. This would have included the savings of charities, schools and...

Topical Issue Debate: Credit Unions (13 Nov 2013)

Michael Noonan: I want to assure the House that the case of Newbridge was an outlier, both in terms of its level of impairment and its actual size. It is an enormous credit union compared to the practice in many towns and villages. I also wish to restate the Government's commitment to the credit union movement, as I have done on several occasions on behalf of the Government over the last two and a half...

Written Answers — Department of Finance: Disabled Drivers Grant Appeals (13 Nov 2013)

Michael Noonan: I am advised that the Medical Board of Appeal occasionally holds clinics in locations outside Dublin, but a minimum number of participants is required to make this feasible. I would point out that the Medical Board of Appeal is independent in its functions. The individual should contact the Medical Board of Appeal directly to enquire if a hearing could be facilitated in Limerick in the near...

Written Answers — Department of Finance: Strategic Investment Bank Establishment (13 Nov 2013)

Michael Noonan: ACC’s situation must be considered against a backdrop of a comprehensive programme of bank recapitalisation and restructuring that has been underway to change the future banking landscape in Ireland. It is hard to see in any context how the purchase of a bank which has been focussed on downsizing over the past number of years would match the goals and ambition of strategic investment....

Written Answers — Department of Finance: Tax Reliefs Eligibility (13 Nov 2013)

Michael Noonan: Section 8 of the of the Finance (No. 2) Bill of 2013 provides for the Budget day announcement of the new ceilings of €1,000 per adult and €500 per child on the amount of medical insurance premiums that will qualify for tax relief. I will be bringing forward an amendment at Committee Stage to provide that where a student is being charged a full adult premium that the adult...

Written Answers — Department of Finance: Pensions Levy Issues (13 Nov 2013)

Michael Noonan: Section 4 of the Finance (No.2) Act 2011 provided for a levy on funded pension schemes and personal pension plans. The levy is charged at a rate of 0.6% on the aggregate of the market value of assets of a pension schemes at the valuation date. In the case of all pension scheme assets held in the form of contracts of assurance and all defined contribution occupational scheme assets, the...

Written Answers — Department of Finance: Exports Data (13 Nov 2013)

Michael Noonan: Regarding the employment numbers, annual average employment figures in NACE codes 20 (manufacture of chemicals and chemical products) and 21 (manufacture of basic pharmaceutical products and pharmaceutical preparations) are provided below. These data reflect Quarterly National Household Survey (QNHS) employment by NACE Rev. 2, two digit classification. However, I am informed by the Central...

Written Answers — Department of Finance: Job Creation Data (13 Nov 2013)

Michael Noonan: As part of the Programme for Government, the May 2011 Jobs Initiative introduced a number of measures designed to support the creation of employment. Since Q3 2011, net employment has increased by some 27,800. A number of measures were introduced under the Initiative including the introduction of the reduced VAT rate of 9% on tourism-related services. Measures to reduce the cost to employers...

Written Answers — Department of Finance: Tax Reliefs Application (13 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 48 and 56 together. I have considered this matter carefully and I have decided at this time, not to extend the parameters of the scheme to include self-referral for physiotherapy. General practitioners act as an access and control point for the scheme of tax relief on health expenses, as all such expenses must be incurred on the advice or referral of a...

Written Answers — Department of Finance: Property Taxation Administration (13 Nov 2013)

Michael Noonan: I am advised by Revenue that the introduction of Local Property Tax (LPT), which is the largest ever extension of the self-assessment system, represents a very great administrative challenge. For example, Revenue has answered in excess of 580,000 telephone calls and replied to in excess of 200,000 letters or emails since March 2013. Revenue has further advised me that because LPT is a new...

Written Answers — Department of Finance: Property Taxation Assessments (13 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that, in accordance with section 851A of the Taxes Consolidation Act 1997, all taxpayer information held by the Commissioners is confidential and they are therefore precluded from providing a detailed breakdown of the amount of Local Property Tax (LPT) due on residential properties owned by individual local authorities for 2014. However, the...