Results 2,041-2,060 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that they have re-examined the papers in this case and have confirmed that the position is as previously advised, namely, that there is no provision in tax law for payment of interest on the capital gains tax repaid in this case. Under section 865A of the Taxes Consolidation Act 1997 interest on such repayments only arises where the repayment is not...

Written Answers — Departmental Correspondence: Departmental Correspondence (29 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that they are not in a position to provide a detailed reply on this matter within the timeframe for answering Parliamentary Questions. Accordingly, they will contact the Deputy directly on this issue at an early date.

Written Answers — Departmental Staff: Departmental Staff (29 Sep 2010)

Brian Lenihan Jnr: The number of staff serving in my Department at 27 September 2010 is set out in the following table. Grade Number serving (FTE) Secretary General 1.00 Secretary General PSMD 1.00 Second Secretary 3.00 Assistant Secretary 12.00 Principal 48.10 Assistant Principal 129.88 Administrative Officer 50.00 Higher Executive Officer 82.39 Executive Officer 50.30 Staff Officer 26.63 Clerical...

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: There has been no policy change regarding the granting of tax relief at source (TRS) in respect of interest paid on qualifying home loans. Where an individual has an entitlement to tax relief on interest paid on a qualifying home loan, such relief is generally granted via the TRS system. Following the Budget 2010 changes, only interest payable on qualifying home loans taken out on or after 1...

Written Answers — National Debt: National Debt (29 Sep 2010)

Brian Lenihan Jnr: The National Debt is defined as the total outstanding amount of principal borrowed by Central Government and not repaid to date less liquid assets available for redemption of those liabilities at the same date. The National Treasury Management Agency (NTMA) advise that the national debt was €75.2 billion at end-2009 and was €87.2 billion at end-August 2010. Based on the estimated...

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that based on the information available to Revenue, the taxpayer's tax credits and standard rate cut off point are correct. If the taxpayer considers that an adjustment is required he can contact the Revenue Commissioners at 1890 44 44 25.

Written Answers — Rural Renewal Schemes: Rural Renewal Schemes (29 Sep 2010)

Brian Lenihan Jnr: The relief to which the Deputy is referring is the owner-occupier relief under the Rural Renewal Scheme. I am advised by the Revenue Commissioners that a person claiming the relief must, among other requirements, be the first owner-occupier of the property in question. The scheme was not intended to be available to purchasers of properties acquired under tenant purchase arrangements with...

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: Mortgage Interest Relief for first time and non first time buyers is limited to the first seven tax years for which an individual has entitlement to the relief. In Budget 2010, I announced that I would be extending the relief up to the end of 2017 for those whose entitlement to relief was due to end in 2010 or after. Those who took out mortgages in 2003 would have seen their entitlement end...

Written Answers — Tax Yield: Tax Yield (29 Sep 2010)

Brian Lenihan Jnr: It is estimated that the revenue forgone from the abolition of the air travel tax would be around €110 million in a full year.

Written Answers — Tax Yield: Tax Yield (29 Sep 2010)

Brian Lenihan Jnr: It is estimated that the additional full year yield, inclusive of VAT, from an increase in the current carbon tax rate (€15 per tonne) of €5, €10, and €15 per tonne would be approximately €110 million, €220 million and €330 million respectively. The yield in 2011 would of course depend on the timing and phasing of any such increase in the carbon tax. On the assumption that a...

Written Answers — Tax Yield: Tax Yield (29 Sep 2010)

Brian Lenihan Jnr: It is presumed the Deputy is referring to the current annual earnings cap of €150,000, which operates to limit the level of tax-relieved personal pension contributions in any one year. The annual earnings cap acts, in conjunction with age-related percentage limits of annual earnings, to put a ceiling on the annual amount of tax relief an individual taxpayer can obtain on pension...

Written Answers — Tax Yield: Tax Yield (29 Sep 2010)

Brian Lenihan Jnr: The Deputy will no doubt be aware that the level at which interest repayments can be claimed against tax for residential rental properties was reduced from 100% to 75% in section 5 of the Finance Act 2009 at an estimated full year yield of €95 million. The yield to the Exchequer from a further similar reduction as mentioned in the question is likely to be of a similar order.

Written Answers — Tax Yield: Tax Yield (29 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that it is estimated that a 25 cent increase in excise duty on a packet of cigarettes would yield in the region of €40m.

Written Answers — Departmental Reviews: Departmental Reviews (29 Sep 2010)

Brian Lenihan Jnr: The Terms of Reference of the Independent Review of the Department of Finance, which are set out below, indicate that the focus of the Review will be an evaluation of the systems, structures and processes of the Department of Finance. The Terms of Reference are as follows: "The Independent Review Group will undertake a comprehensive evaluation of the systems, structures and processes of the...

Written Answers — Financial Services Regulation: Financial Services Regulation (29 Sep 2010)

Brian Lenihan Jnr: The Financial Regulator (FR) has advised me that it has approved the following charge for the Financial Institution that is the subject of the question:- Purchase of Foreign Cheque-Euro 2% of value (minimum 4 euros and maximum 35 euros). The FR has advised that this charge is to cover the costs associated with sending a cheque for "collection". The FR has also advised me that each charge is...

Written Answers — Departmental Staff: Departmental Staff (29 Sep 2010)

Brian Lenihan Jnr: I am happy that substantial progress is being made on implementation of the Public Service Agreement 2010 to 2014 (Croke Park Agreement) and that all the terms of the Agreement are currently being complied with within the civil service. In particular, the Agreement has resulted in the cessation of industrial action and a number of the instruments indicated in the Agreement for the civil...

Written Answers — Consultancy Contracts: Consultancy Contracts (29 Sep 2010)

Brian Lenihan Jnr: Following clarification with the Deputy I understand that the information being sought relates to the total amount paid by my Department in respect of banking consultancies in each of the years 2006 to date in 2010. The following table sets out the information requested. Total amounts paid by my Department in respect of banking consultancies Year Payees Total Paid 2006 N/a €0 2007 N/a...

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (29 Sep 2010)

Brian Lenihan Jnr: The National Pensions Reserve Fund was established on 2 April 2001 under the National Pensions Reserve Fund Act 2000 with the objective of meeting as much as possible of the cost to the Exchequer of social welfare pensions and public service pensions to be paid from the year 2025 until at least 2055. The National Pensions Reserve Fund Commission — who control and manage the Fund —...

Written Answers — Proposed Legislation: Proposed Legislation (29 Sep 2010)

Brian Lenihan Jnr: As the Deputy will be aware I have instructed Anglo Irish Bank to prepare, in conjunction with the NTMA, the Central Bank/Financial Regulator and my Department, a detailed plan to reflect the restructuring approach decided by Government. This involves splitting the existing bank into an Asset Recovery bank and a Funding bank. As part of this process the necessity or otherwise for the...

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: As a matter of policy, taxation measures are reviewed on a regular basis and particularly as part of the Budgetary process. While this issue is primarily a tax matter, I continue to take soundings from Ministers with responsibility for both tourism and transport. The air travel tax was one of a number of Budgetary measures introduced that was necessary in the context of an overall response...