Results 17,221-17,240 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Assessments (23 Oct 2014)

Michael Noonan: I am informed by the Revenue Commissioners that they have established a panel of private sector valuation experts to provide market valuations of all forms of real property including residential property, commercial property and development land. Where valuations of residential property are being challenged by Revenue in connection with LPT, Revenue will engage a valuation expert from this...

Written Answers — Department of Finance: Tax Reliefs Application (23 Oct 2014)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 (TCA) provides for a scheme of tax relief on donations to approved bodies. The list of approved bodies for the purposes of Section 848A, which includes eligible charities, bodies approved for education in the arts and eligible primary, secondary and third-level institutions, is available on the Revenue website at . For donations made pre-2013,...

Written Answers — Department of Finance: Tax Reliefs Eligibility (23 Oct 2014)

Michael Noonan: The artists' exemption provides for an exemption from Income Tax on the first €40,000 of earnings in relation to certain categories of works, namely: a book or other writing; a play; a musical composition; a painting or other picture; or a sculpture. The exemption does not extend to income arising from: royalties paid or associated with the performance of music whether by the composer...

Written Answers — Department of Finance: Credit Unions Regulation (23 Oct 2014)

Michael Noonan: This Government established the Commission on Credit Unions in May 2011 to make recommendations in relation to the most effective regulatory structure for credit unions, taking into account their not-for-profit mandate, their volunteer ethos and community focus, while paying due regard to the need to fully protect members' savings and financial stability. The Commission published its final...

Written Answers — Department of Finance: Banking Sector Investigations (23 Oct 2014)

Michael Noonan: A decision was taken by this House on the 7th of May to establish a Joint Committee to prepare a proposal for an inquiry relating to the banking crisis to be conducted in accordance with the Houses of the Oireachtas (Inquiries, Privileges and Procedures) Act 2013. That Committee met a number of times across the summer before submitting a proposal to the Committees on Procedure and Privileges...

Written Answers — Department of Finance: Debt Collectors Regulation (23 Oct 2014)

Michael Noonan: The Central Bank confirmed to me that debt collection firms, that is, firms that seek to collect debt due on behalf of creditors are not subject to authorisation and supervision in their own right by the Central Bank of Ireland. In circumstances where a regulated financial service provider outsources its debt collection activities, any agent acting on behalf of that regulated financial...

Written Answers — Department of Finance: Public Sector Staff Remuneration (23 Oct 2014)

Michael Noonan: In response to the Deputy's question, I am informed that none of the bodies under the remit of my Department deliver bonuses to staff that need improvement.

Seanad: European Stability Mechanism (Amendment) Bill 2014: Committee and Remaining Stages (23 Oct 2014)

Michael Noonan: I thank the Senator for her amendment but I do not propose to accept it. As with the amendments put forward by her party colleagues in the Dáil, this proposal seeks to dictate a certain course of action. In addition, it seeks to place a restriction on the Minister's discretion in terms of any application for retroactive recapitalisation. In the case of this amendment, the restriction...

Seanad: European Stability Mechanism (Amendment) Bill 2014: Committee and Remaining Stages (23 Oct 2014)

Michael Noonan: As I said in the other House, in Europe a strategic approach is the best result. In this context, it is preferable to seek the option of retroactive recapitalisation and keep it in on the table rather than risk refusal with an early application. I will, therefore, continue to pursue a strategy which keeps the maximum number of options on the table. Monthly reporting on the issue would...

Seanad: Adjournment Matters: Universal Social Charge Payments (23 Oct 2014)

Michael Noonan: I thank Senator Bradford for raising this issue today. The situation is that the universal social charge, known as USC, was introduced by the previous Government in budget 2011 to replace the income levy and the health levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. It is a more sustainable charge than those it...

Seanad: Adjournment Matters: Universal Social Charge Payments (23 Oct 2014)

Michael Noonan: I understand what the Senator is saying. When drafting this year's budget, I discovered that the USC is far more flexible than income tax. By using the USC rather than income tax, it was possible to put in place direct relief in respect of different tranches of income and various categories of people. If we were relying on income tax alone, for example, it would not have been possible to...

Finance Bill 2014: Order for Second Stage (4 Nov 2014)

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

Finance Bill 2014: Second Stage (4 Nov 2014)

Michael Noonan: I move: "That the Bill be now read a Second Time." The economy is growing at the fastest rate in the European Union; the public finances are under control and our debt is on a downward trajectory. Budget 2015 was designed to sustain this recovery, broaden it throughout the country and continue the prudent and safe management of the public finances that has got us to this point. The Finance...

Written Answers — Department of Finance: VAT Exemptions (4 Nov 2014)

Michael Noonan: I am advised by the Revenue Commissioners that paragraph 14(2) of Schedule 1 of the Value-Added Tax Act 2010 exempts from VAT the supply of water by local authorities and Irish Water.  I assume the call out charges to which the Deputy refers includes charges for connection and reconnection, pressure testing, water quality testing and meter services.  Charges for these ancillary...

Written Answers — Department of Finance: National Pensions Reserve Fund Administration (4 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 257 to 259, inclusive, together. SME Equity Fund - Carlyle Cardinal Ireland (€275 million fund focused lower mid-market private equity investing. NPRF Commitment €125 million) Since the inception of the fund, Carlyle Cardinal has developed strong networks across Ireland and has generated a strong pipeline of attractive opportunities for the...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (4 Nov 2014)

Michael Noonan: The Government recognises that small businesses play a central role in the sustainable recovery of the Irish economy. With over €2bn of government supports available to small business in Ireland from over twenty Departments and Agencies, it is vital that SMEs can quickly access information on this range of supports available to them. In order to improve the levels of...

Written Answers — Department of Finance: Tax Credits (4 Nov 2014)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit was replaced with the Single Person Child Carer Credit from 1 January 2014.The new credit is more targeted in that it is, in the first instance, only available to the primary carer of the child. As part of the normal budgetary preparations all tax reliefs, credits and incentives are reviewed in order to ensure that they are properly...

Written Answers — Department of Finance: Property Taxation Administration (4 Nov 2014)

Michael Noonan: I am advised by Revenue that the charge to which the Deputy refers has been reduced to 1.1% with effect from 1 October 2014. The charge, which is applicable to all credit card tax payments to Revenue including Local Property Tax (LPT) and arrears of Household Charge (HHC), is passed to the taxpayer as provided for by Section 960EA (inserted by Section 79 of the Finance Act 2011 (No. 6 of...

Written Answers — Department of Finance: Property Taxation Collection (4 Nov 2014)

Michael Noonan: In regard to the administration of Local Property Tax (LPT), the Finance (Local Property Tax) Act 2012 (as amended) sets out the statutory due dates for payment. I am advised that, mindful of the difficulties referred to by the Deputy, Revenue has introduced eight different payment options to assist property owners in meeting their liabilities in a manner and at a time that best suits...

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

Michael Noonan: I am advised by the Revenue Commissioners, who are responsible for tackling fuel fraud, that they are very aware of the risks posed to consumers' vehicles, legitimate businesses and the Exchequer by all forms of such fraud. Revenue has, over the recent past, received reports from a variety of locations around the country of problems relating to petrol quality, and suggestions that these...