Results 15,481-15,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Yield (14 May 2014)

Michael Noonan: As revenue arising from water charges will go to Irish Water, a State owned commercial company, it will not benefit the Exchequer or count as general government revenue.  Accordingly, it is not relevant to the calculation of the general government deficit for 2015. The establishment of Irish Water is a long-term investment project to deliver the necessary water services infrastructure...

Written Answers — Department of Finance: Tax Yield (14 May 2014)

Michael Noonan: I am advised by Revenue that it administers mortgage interest relief (MIR) in respect of qualifying loans through the tax relief at source (TRS) system. I am further advised that the amounts due are paid via the relevant lending institutions. With regard to the case to which the Deputy refers, I am informed that in 2010 Revenue received notification from the persons' lender that all...

Written Answers — Department of Finance: Tax Credits (14 May 2014)

Michael Noonan: I am advised by the Revenue Commissioners that in accordance with the Finance Act 2013, with effect from 1 July 2013 maternity benefit became taxable in full. Tax is not deducted 'at source' by the Department of Social Protection (DSP) on these payments. Instead, the Revenue Commissioners receive the payment details from the DSP to enable the taxpayer's annual tax credits to be reduced to...

Written Answers — Department of Finance: IBRC Liquidation (14 May 2014)

Michael Noonan: I have been advised by the Special Liquidators that 64% of the residential mortgage portfolio was sold to two purchasers, Shoreline Residential Limited, an indirect affiliate of Lone Star Fund VIII, and Mars Capital Ireland Limited which is funded through funds managed by Oaktree Capital Management LP. The Special Liquidators confirm that they have received confirmation from each of the...

Written Answers — Department of Finance: Construction Sector Strategy (14 May 2014)

Michael Noonan: The Government's Construction Strategy, published today, 14 May, aims to support a return to a sustainable and properly functioning property and construction sector as an essential part of our national economic recovery. The Strategy includes measures to ensure that financing is available to support necessary and viable development. In particular, a High Level Working Group, led by my...

Written Answers — Department of Finance: Budget 2015 (14 May 2014)

Michael Noonan: At this early stage of the year, I will not be drawn into speculation on the composition of the next Budget.  However, I would stress that when focusing on reducing the deficit and returning sustainability to the public finances, it has been of vital importance to the Government to spread the burden of the adjustments in as fair and equitable a manner as possible, while also seeking to...

Written Answers — Department of Finance: IBRC Liquidation (14 May 2014)

Michael Noonan: The Government is keenly aware of the concerns raised by the Central Bank and others regarding the potential loss of protection under the Code of Conduct on Mortgage Arrears (CCMA).  The Government is committed to bringing forward legislation that will protect mortgage holders and believes the sale of loan books to unregulated third parties Bill is the most effective way to address...

Written Answers — Department of Finance: Tax Reliefs Availability (15 May 2014)

Michael Noonan: I do not envisage that tax relief would be available on water charges.

Written Answers — Department of Finance: Black Economy (15 May 2014)

Michael Noonan: This Government is committed to reducing the amount of activity in the shadow economy, particularly in the construction sector. As the Deputy is aware, I introduced the Home Renovation Incentive in Finance Act (No 2) 2013. It provides for tax relief for property owners by way of an income tax credit at 13.5% of qualifying expenditure on repair, renovation or improvement works....

Written Answers — Department of Finance: Insurance Industry Regulation (15 May 2014)

Michael Noonan: Setanta Insurance Company Limited ("Setanta") is a Maltese incorporated company which was both authorised and prudentially supervised by the Malta Financial Services Authority (MFSA). While its financial position is not supervised by the Central Bank of Ireland, the firm is supervised by the Central Bank for conduct of business rules, i.e. consumer protection obligations.  The...

Written Answers — Department of Finance: Tax Collection (15 May 2014)

Michael Noonan: I am advised by Revenue that the person to whom the Deputy refers is fully compliant with her Local Property Tax (LPT) obligations for both 2013 and 2014. However the records that Revenue received from the Local Government Management Agency (LGMA) in respect of the Household Charge (HHC) indicated that the original €100 liability was not paid. The correspondence that issued to the...

Written Answers — Department of Finance: Tax Credits (15 May 2014)

Michael Noonan: As you are aware the One-Parent Family Tax Credit (OPFTC) has been replaced with a new Single Person Child Carer Credit from 1 January 2014.  The restructured credit is of the same value i.e. €1,650 per annum as the one-parent family tax credit and also includes the same entitlement to the additional €4,000 extended standard rate band, which increases it to...

Written Answers — Department of Finance: Tax Reliefs Application (15 May 2014)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. I assume the Deputy is referring to the "Group thresholds" for CAT. For the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person...

Written Answers — Department of Finance: Tax Yield (15 May 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the yield from Inheritance tax for the years in question is as set out in the following table. Year Inheritance Tax Yield €m 2009 202 2010 186 2011 214 2012 254 2013 258

Written Answers — Department of Finance: Tax Rebates (15 May 2014)

Michael Noonan: As the Deputy is aware, changes were made to the scheme of tax relief for donations to approved bodies in Finance Act 2013 as follows: - Donations from all individual donors under the scheme are treated in the same manner, with the tax relief in all cases being repaid to the charity. - A blended rate of relief of 31% applies to all taxpayers regardless of their marginal tax rate. All...

Written Answers — Department of Finance: Maternity Benefit (15 May 2014)

Michael Noonan: It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. In line with this principle, the majority of social welfare payments are reckonable as income for tax purposes. These include long-term payments such as Disablement Benefit, the State Pension, Widows, Invalidity and Blind Pensions, Carers Allowance and the One Parent Family...

Written Answers — Department of Finance: Ministerial Travel (15 May 2014)

Michael Noonan: As I have outlined in previous Parliamentary Questions, I attended the Bilderberg meeting in Westfield Marriot, Chantilly, Virginia, USA, from 1 to 3 June 2012.  I, like a number of my European colleagues (both Ministers and EU Commissioners), was invited to attend given my position as Minister for Finance.  I travelled alone and the total cost associated with my travel and...

Written Answers — Department of Finance: Bank Codes of Conduct (15 May 2014)

Michael Noonan: I am advised by the Central Bank that in relation to the provision of credit, the Central Bank's Consumer Protection Code 2012 (2012 Code) sets out rules on early repayment.  Where a regulated entity offers credit on a fixed interest rate to a personal consumer, or offers a personal consumer the option to fix their rate or to switch to a fixed rate on an existing credit...

Written Answers — Department of Finance: Pension Provisions (15 May 2014)

Michael Noonan: Approved Minimum Retirement Funds (AMRFs) form part of the flexible options at retirement that are available in respect of all benefits from Defined Contribution (DC) occupational pension schemes and other DC pension savings arrangements. Choices available to individuals (after taking the retirement lump sum) include the option to purchase an annuity with the remaining funds, to receive the...

Written Answers — Department of Finance: Tax Credits (15 May 2014)

Michael Noonan: I have previously replied to the Deputy in detail in relation to the Single Person Child Carer Credit on 13 February 2014 in my response to Questions 7453, 7454 and 7455. I am advised by the Revenue Commissioners that for 2013, it is currently estimated that 76,800 individuals were in receipt of the One-Parent Family Tax Credit (i.e., in a position to utilise some or all of the tax credit to...