Results 15,401-15,420 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Unions Regulation (7 May 2014)

Michael Noonan: I propose to take Questions Nos. 38 and 42 together.   Credit Unions have an important role to play in providing credit in local communities around the country.  While lending restrictions have been imposed on some credit unions, I have been informed by the Central Bank that these restrictions are imposed in the context of on-going matters of supervisory concern arising in...

Written Answers — Department of Finance: Central Bank of Ireland Staff (7 May 2014)

Michael Noonan: I have been informed by the Central Bank that the individual referred to by the Question is employed by the Central Bank at Director level and was seconded to the European Banking Authority (EBA) as a seconded national expert on 18 April 2011. This secondment is due to end in December 2014.  The Central Bank has not made a decision regarding the individual's role with the...

Written Answers — Department of Finance: Insurance Industry (7 May 2014)

Michael Noonan: Under EU law which governs non-life insurance, an insurer is required to inform the regulator in its home Member State (its home regulator) that it intends to pursue business in another Member State. The home regulator must then provide the host regulator with a certificate attesting that the insurer covers the EU Solvency Capital Requirement, as well as the nature of the business which...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (7 May 2014)

Michael Noonan: I have been advised by the Special Liquidators that the independent valuation was set with reference to the higher of the run-off valuation and market valuation.

Written Answers — Department of Finance: Property Taxation Collection (7 May 2014)

Michael Noonan: I propose to take Questions Nos. 43 to 45, inclusive, together. As I have previously informed the House on a number of occasions, most recently in my reply to Questions Nos. 168 and 169 on 6 May, Revenue received the Household Charge register from the Local Government Management Agency (LGMA) and this data was used to develop the Local Property Tax (LPT) Register. Revenue confirmed that as a...

Ombudsman for Children (Amendment) Bill 2014: First Stage (8 May 2014)

Michael Noonan: No.

Central Bank Bill: Order for Report Stage (8 May 2014)

Michael Noonan: I move: "That Report Stage be taken now."

Central Bank Bill 2014: Report and Final Stages (8 May 2014)

Michael Noonan: As my position has not changed since Committee Stage, the Deputies will not be surprised to hear that I am not accepting the amendment. As I said on Committee Stage, there are a number of issues with it. First, it would prevent the sale of mortgages to an entity which was in the process of obtaining authorisation from the Central Bank. It could also potentially prevent the sale of these...

Central Bank Bill 2014: Report and Final Stages (8 May 2014)

Michael Noonan: I do not have anything to add to my previous contribution. I have set out the position from my perspective. At the level of principle, we are ad idem. I will bring forward the legislation as a matter of priority and it will have retrospective impact to cover loan books already sold.

Written Answers — Department of Finance: Tax Credits (8 May 2014)

Michael Noonan: As you are aware the One-Parent Family Tax Credit has been replaced with a new Single Person Child Carer Credit from 1 January 2014.   However, the credit is more targeted in that it is, in the first instance, only available to the principal carer of the child. Given the difficult fiscal environment, it is essential to review all tax reliefs, credits and incentives in order to...

Written Answers — Department of Finance: Vehicle Registration Issues (8 May 2014)

Michael Noonan: I refer the Deputy to my answer of 30 April 2014 to Parliamentary Questions Nos. 19710/14 and 19711/14. As I said in that answer, the temporary exemption from the payment of Vehicle Registration Tax (VRT) is provided for under section 135 of the Finance Act 1992, as amended. Subject to certain conditions, restrictions and limitations, a qualifying vehicle, i.e. a vehicle which is...

Written Answers — Department of Finance: Banking Operations (8 May 2014)

Michael Noonan: I am informed by the Central Bank that this issue arose because 1 May 2014 was a normal business day in Ireland but the euro settlement and payment systems (TARGET2 and STEP 2) were closed due to the fact that 1 May is a bank holiday in most EU member states. While this situation has occurred in previous years, the Irish banks were able to process payments between themselves as the domestic...

Written Answers — Department of Finance: Insurance Industry (8 May 2014)

Michael Noonan: I propose to take Questions Nos. 47 and 48 together. Under EU law which governs non-life insurance, an insurer is required to inform the regulator in its home Member State (its home regulator) that it intends to pursue business in another Member State. The home regulator must then provide the host regulator with a certificate attesting that the insurer covers the EU Solvency Capital...

Written Answers — Department of Finance: Pension Provisions (8 May 2014)

Michael Noonan: I am informed by the Revenue Commissioners that in relation to what are known as "Trivial Pensions" they allow the payment of once off pensions in certain limited circumstances. If the scheme beneficiary and trustees agree, Revenue will raise no objection to the payment of once off pensions. This may only take place where the total of all funds available for pension benefits, following...

Written Answers — Department of Finance: Pensions Legislation (8 May 2014)

Michael Noonan: My understanding is that, as announced in their recent Budget, from April 2015 the UK Government intend to allow individuals aged 55 and over access their defined contribution (DC) pension fund on retirement as they choose, after taking the allowable tax free retirement lump sum from the fund. Withdrawals from the remainder of the fund will be taxed at the individual's marginal income tax...

Written Answers — Department of Finance: Tax Code (8 May 2014)

Michael Noonan: I assume the Deputy is referring to construction sub-contractors who are subject to reverse-charge VAT, whereby the principal contractor remits the VAT related to their output to the Revenue Commissioners.  This is not a new measure, having been introduced in 2008.  In any event, I am advised by the Revenue Commissioners that such sub-contractors, who have no output VAT liability,...

Written Answers — Department of Finance: Property Taxation Administration (8 May 2014)

Michael Noonan: I am advised by Revenue that it received the Household Charge (HHC) Register from the Local Government Management Agency (LGMA) and this data, along with various other Government and non-Government data sources, was used to develop the Local Property Tax (LPT) Register. Revenue has also confirmed that as a result of a comprehensive data matching exercise across both registers, it has matched...

Written Answers — Department of Finance: Tax Code (8 May 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the following tax issues are relevant to the circumstances you mention. Capital Gains Tax The transfer of land by a person to his or her child constitutes a disposal of an asset for capital gains tax purposes. The first €1,270 of chargeable gains in any tax year is exempt from capital gains tax. Where the gains exceed that amount,...

Written Answers — Department of Finance: Tax Forms (8 May 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that the person concerned and her spouse are jointly assessed for income tax purposes.  A PAYE Balancing Statement (P21) for 2012 and also a refund of tax over paid will issue shortly to the person concerned. Revenue has written to her requesting Form P.60 for 2013 and on receipt of a reply a P21 for 2013 will be issued.

Written Answers — Department of Finance: Household Charge Exemptions (8 May 2014)

Michael Noonan: I am advised by Revenue that the introduction of Local Property Tax (LPT) required it to build a Property Register of all residential properties in the State. As part of the building process, Revenue received the Household Charge (HHC) Register from the Local Government Management Agency (LGMA) and cross-referenced both registers to identify a database of properties where the HHC is still...