Results 14,121-14,140 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Administration (29 Jan 2014)

Michael Noonan: In accordance with the Finance (Local Property Tax) Act 2012 (as amended), liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which was 1 May 2013 for 2013 and for subsequent years, 1 November in the preceding year. For the year 2014, the liability date is 1 November.  I would draw the Deputies attention to the fact that...

Written Answers — Department of Finance: Tax Credits (29 Jan 2014)

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 restructured credit will be of the same value i.e. €1,650 per annum as the one-parent family tax credit and it will also carry the same entitlement to the additional €4,000 extended standard rate band, which...

Written Answers — Department of Finance: Mortgage Debt (29 Jan 2014)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (CCMA) sets out requirements for mortgage lenders dealing with borrowers facing or already in arrears on a mortgage which is secured on a primary home. The CCMA provides a strong consumer protection framework to ensure that borrowers struggling to keep up mortgage repayments are treated in a fair and transparent manner by their...

Written Answers — Department of Finance: Universal Social Charge Exemptions (29 Jan 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned is liable to pay the universal social charge for 2012. A PAYE Balancing Statement (P21) issued to the person concerned on 2 April 2013 detailing the charge for 2012. In Budget 2013, following a review of the USC carried out by my Department, the income threshold for the application of the universal social charge was...

Written Answers — Department of Finance: Central Bank of Ireland Properties (29 Jan 2014)

Michael Noonan: Under section 6B of the Central Bank Act 1942, the Central Bank Commission is responsible for administering the provision of accommodation and office and other equipment with a view to enabling the Central Bank to perform and exercise its functions and powers. Accordingly I have no function in the matter of accommodation arrangements at the Central Bank. I have been...

Written Answers — Department of Finance: Central Bank of Ireland IT Operations (29 Jan 2014)

Michael Noonan: The Central Bank entered into a contract with Hewlett Packard Ireland Ltd. to provide the physical data centre environment to host the Central Bank's IT systems and to manage the technical infrastructure aspects of these systems. Hewlett Packard Ireland Ltd. will also provide hosting facilities at a backup data centre for the purposes of business continuity. Both of these data centres are...

Written Answers — Department of Finance: Banking Operations (29 Jan 2014)

Michael Noonan: I have been informed by the Central Bank that, generally speaking, the clearing cycle for a cheque in Ireland should be no longer than three business days, with the bar on returning a cheque unpaid being set at five business days. However, it should be noted that this clearing cycle can be shorter in some circumstances in particular where the accounts of the payer and the payee are both...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (29 Jan 2014)

Michael Noonan: Following identification by it of an unauthorised electronic release of information in August 2012, NAMA implemented further systems enhancements.  I am satisfied with NAMA's procedures to prevent data breaches, however as the Deputy would be aware that no system or control can provide absolute assurance in cases of an individual determined to break the law. I am advised that NAMA...

Written Answers — Department of Finance: Health Insurance Levy (29 Jan 2014)

Michael Noonan: The system of income tax relief for medical insurance premiums is provided at source at the standard rate of income tax. Therefore, prior to the recent reform the State was paying 20% of the cost of all private medical insurance premiums.  In Budget 2014 tax relief for medical insurance premiums was restricted to the first €1,000 per adult and the first €500 per child...

Written Answers — Department of Finance: Single Euro Payments Area (29 Jan 2014)

Michael Noonan: I have been informed by the Central Bank of Ireland, which is overseeing the implementation of the Single Euro Payments Area in Ireland, that progress on the migration  to the new system has been under way for some considerable time. In recent months, a significant proportion of payments generated in Ireland have migrated to the two SEPA schemes, namely SEPA Credit Transfer (SCT)...

Written Answers — Department of Finance: Job Initiatives (30 Jan 2014)

Michael Noonan: As the Deputy is aware, I announced the Start Your Own Business initiative, which provides an exemption from Income Tax for individuals who have been unemployed for a period of 12 months and who start a new, un-incorporated business between 25 October 2013 and 31 December 2016. An exemption from Income Tax will be provided on profits up to a maximum of €40,000 per annum for the first...

Written Answers — Department of Finance: Departmental Contracts (30 Jan 2014)

Michael Noonan: In an effort to save costs,  my Department introduced in 2009 a policy where by Staff requiring to usetaxis are required pay for the taxi themselves and recoup the costs from the Department following presentation and approval of the receipt for the official trip undertaken. In addition staff were also requested to use public forms of transport including the air coach...

Written Answers — Department of Finance: Mortgage Resolution Processes (30 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 36, 37 and 45 together. According to the Central Bank of Ireland, the Mortgage Arrears Resolution Targets (MART) were introduced, as a prudential policy measure, to set progressively more demanding quantitative targets for specified Credit Institutions to process mortgage arrears cases and achieve sustainable outcomes.  The specified Credit Institutions...

Written Answers — Department of Finance: Mortgage Resolution Processes (30 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 38 and 39 together. I have been advised by the Special Liquidators that Irish Bank Resolution Corporation Limited (in Special Liquidation) was not one of the Specified Credit Institutions as set out in the Mortgage Arrears Resolution Targets ( MART ) published by the Central Bank of Ireland in March 2013.  At the time the MART were published in...

Written Answers — Department of Finance: Pensions Levy Issues (30 Jan 2014)

Michael Noonan: I announced in my Budget 2014 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 have however, introduced an additional levy on pension funds at 0.15% to, among other things, continue to help fund the Jobs Initiative. The additional levy, within the existing legal framework, will apply to pension fund...

Written Answers — Department of Finance: Tax Exemptions (30 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 41, 42 and 43 together. The administration of the Charitable Tax Exemption is a matter for the Revenue Commissioners. I am informed by Revenue that 8,421 bodies currently hold charitable tax exemptions and that a full list of such bodies is available on the Revenue website at . I am also informed that the relevant information available as to Exchequer cost...

Written Answers — Department of Finance: Property Taxation Administration (30 Jan 2014)

Michael Noonan: I assume the Deputy is referring to the exemption in section 8 of the Finance (Local Property Tax) Act 2012 (as amended). It was originally intended that this exemption would only apply to first-time buyers, which is clear from the heading to the section: "Exemption for first-time buyers". The Explanatory Memorandum to the Bill (prior to enactment) also states that the exemption applies to...

Written Answers — Department of Finance: IBRC Loans (30 Jan 2014)

Michael Noonan: I have been advised by the Special Liquidators that the information requested regarding the sale of the loan from IBRC (In Special Liquidation) will not be published as it is commercially sensitive information.  The Special Liquidators believe that releasing this information may prejudice the ability of the Special Liquidators to obtain best value for the loan assets in the ongoing IBRC...

Leaders' Questions (4 Feb 2014)

Michael Noonan: So those opposite will have to stop making up stories.

Written Answers — Department of Finance: Fuel Laundering (4 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the number of oil laundries detected and closed down in the period from 2010 to 2013 was 33. Details of those detections, by year and the counties in which they occurred, are given in the following table. Year Cavan Donegal Dublin Laois Louth Meath Monaghan Offaly Waterford Totals 2010 0 0 0 1 0 0 2 1 0 4 2011 0 1 0 0 1 1 6 0 0 9 2012 1 0 0...