Results 16,101-16,120 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: One-Parent Family Payment Expenditure (1 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated cost for the Exchequer of One Parent Family Tax Credit  in 2010, 2011, 2012 and 2013 was €142m, €144m, €147m and €127m respectively. I am further advised that the estimates for 2013 are provisional and will not be finalised until after tax returns for tax year 2013 are received, the bulk of these...

Written Answers — Department of Finance: Tax Reliefs Availability (1 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that relief in respect of Vehicle Registration Tax (VRT) and Value Added Tax (VAT) on the purchase of a vehicle is provided for in the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (Statutory Instrument No. 353 of 1994). Relief from VRT and VAT may be obtained subject to a maximum of €9,525 under the driver...

Written Answers — Department of Finance: Tax Credits (1 Jul 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that a revised Tax Credit Certificate for 2014 issued to the person concerned on 1 May. This revised certificate takes account of the current personal circumstances in this case. Revised PAYE Balancing Statements for the years 2011, 2012 and 2013 were prepared on 27 June and will issue to the person concerned shortly.

Written Answers — Department of Finance: Tax Collection (1 Jul 2014)

Michael Noonan: I am advised by Revenue that the debt collection environment continues to be challenging given the ongoing difficult financial environment. In this regard I am assured that Revenue debt management caseworkers are very conscious of the challenges that exist for some taxpayers in meeting their tax obligations in a timely manner. For that reason the caseworkers will always seek to work...

Written Answers — Department of Finance: Mortgage Interest Relief Eligibility (1 Jul 2014)

Michael Noonan: The position is that tax relief on interest paid on all qualifying home loans is being phased out. In Finance Act 2010, mortgage interest relief was extended up to end of 2017 for those whose entitlement to relief was due to end in 2010 or after.  Therefore, tax relief will continue to be available in respect of interest paid by an individual on qualifying home loans taken out on or...

Written Answers — Department of Finance: Mortgage Arrears Proposals (1 Jul 2014)

Michael Noonan: I am informed by the Central Bank that the Code of Conduct on Mortgage Arrears (CCMA) sets out requirements for mortgage lenders when dealing with borrowers facing or in mortgage arrears. The CCMA provides a strong consumer protection framework to ensure that borrowers struggling to keep up repayments on a mortgage loan which is secured on a primary residence are treated in a fair and...

Written Answers — Department of Finance: Departmental Staff Recruitment (1 Jul 2014)

Michael Noonan: The post of Secretary General, Department of Finance was advertised on 11 June 2014 with a closing date of 23 June 2014. The post was advertised by the Senior Pubic Service unit at the Department of Public Expenditure and Reform. Applications will now be considered and a decision will be taken by the Government to assess that the person appointed meets the criteria for the job. It is expected...

Written Answers — Department of Finance: Central Bank of Ireland Properties (1 Jul 2014)

Michael Noonan: I am informed by the Central Bank that it regularly reviews the operation of the Mint in Sandyford to ensure that it operates to current best practices.

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Establishment (1 Jul 2014)

Michael Noonan: A project team has been established which includes staff of the Department of Finance and the NTMA to expedite the delivery of the Strategic Banking Corporation of Ireland (SBCI). This project team considers all aspects of the establishment of the SBCI including the issues raised by the Deputy. For example the team is working on the legislation, establishment of the SBCI...

Written Answers — Department of Finance: Tax Yield (1 Jul 2014)

Michael Noonan: It is assumed that the thresholds for the proposed new Income Tax rates mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents, married couples and civil partnerships. In addition, it is assumed that the Universal Social Charge continues to apply at the relevant rates. I am advised by the Revenue...

Written Answers — Department of Finance: Financial Transactions Tax (1 Jul 2014)

Michael Noonan: The Government's position is that a financial transaction tax would be best applied on a wide international basis to include the major financial centres to prevent the danger of activities gravitating to jurisdictions where taxes are not levied on financial transactions. In any event it is not possible to estimate the extra revenue that would be raised by introducing the EU...

Written Answers — Department of Finance: Corporation Tax Regime (1 Jul 2014)

Michael Noonan: With regard to the calculation requested by the Deputy, I would highlight that although a figure of 'gross trading profits' is included in the  detailed annual statistical reports published by the Revenue Commissioners for illustrative purposes, the concept is not generally recognised in Irish tax legislation and it is therefore not possible to accurately cost the Deputy's proposal. In...

Written Answers — Department of Finance: Mortgage Data (2 Jul 2014)

Michael Noonan: Bank of Ireland made an announcement to the stock exchange in relation to the agreement to sell the ICS distribution platform, together with a mortgage asset pool of €250m, to Dilosk Limited. The full announcement can be found at: The additional analysis requested by the Deputy was not included in this announcement and I have been advised by the Bank that it does not intend to...

Written Answers — Department of Finance: Tax Rebates (2 Jul 2014)

Michael Noonan: I am advised by Revenue that Section 848A of the Taxes Consolidation Act 1997 provides for a scheme of tax relief on donations to eligible charities and other approved bodies.  Revenue has also confirmed to me that all schools providing education, based on a programme prescribed or approved by the Minister for Education and Skills, are approved bodies for the purposes of the scheme and...

Written Answers — Department of Finance: VAT Rate Application (2 Jul 2014)

Michael Noonan: I understand that the fundraising activity in question has utilized text messaging as its main vehicle for facilitating donations. In this context, I am advised by the Revenue Commissioners that charitable donations made by text message, excluding any fees charged by the telecommunications provider or other service provider, are outside the scope of Irish VAT.  However, any fees...

Written Answers — Department of Finance: Mortgage Arrears Report Implementation (2 Jul 2014)

Michael Noonan: I can confirm for the Deputy that Bank of Ireland has agreed to sell a portion of the ICS loan book to the value of €250m to Dilosk Limited. The entire ICS loan book is c€6bn. In addition, Bank of Ireland has agreed to sell the ICS distribution platform to Dilosk Limited. The distribution platform includes the ICS brand, the broker contacts and contracts, and the...

Written Answers — Department of Finance: Banking Sector (2 Jul 2014)

Michael Noonan: Dilosk Limited has stated the following on its web site: "The Company will offer mortgages to borrowers seeking to purchase or refinance residential property with a particular focus on residential investment properties (i.e. Buy-to-Let)." This is an important segment of the overall residential mortgage market. With the reduced number of lenders currently operating in the...

Written Answers — Department of Finance: Mortgage Data (2 Jul 2014)

Michael Noonan: Bank of Ireland made an announcement to the Stock Exchange on 26 June in relation to the agreement to sell the ICS distribution platform, together with mortgage assets, to Dilosk Limited. In this announcement, the Bank confirmed that the mortgage assets involved amounted to €250m, were performing, and were sold at par. The full announcement can be found at: The number of...

Written Answers — Department of Finance: Banking Sector Regulation (2 Jul 2014)

Michael Noonan: The Deputy will be aware that, although Bank of Ireland has recently announced it has agreed to sell the ICS distribution platform, together with €250m of mortgage loans, the completion of the sale is subject to the satisfaction of regulatory and other approvals. This regulatory approval requirement is standard for a transaction of this nature and would include the necessary due...

Written Answers — Department of Finance: Banking Sector Regulation (2 Jul 2014)

Michael Noonan: I can confirm for the Deputy that, as per its web site, Dilosk Limited has indicated that it has applied for authorisation from the Central Bank of Ireland to act as a retail credit firm. In addition to this, the company has stated that it intends to comply with all the relevant regulatory codes applicable to mortgage lending in Ireland including the Code of Conduct on Mortgage Arrears.