Results 2,901-2,920 of 27,019 for speaker:Michael Noonan

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: The allegations made by the Deputy are not correct. To get back to her original point about the percentage of the nominal value of the asset represented by the assets being sold in Project Eagle, if one puts it in context there was over €70 billion nominal value of assets acquired by NAMA on the payment of NAMA bonds. The NAMA bonds are to the value of €30.2 billion. It is...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: That is a question for NAMA.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: It does not justify the series of personal allegations the Deputy made against me and I would like her to withdraw them.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: When I have agreed to come once, I suppose I will be here every second week from now on.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: I thank the Chairman and his staff, the Comptroller and Auditor General and his staff, and my parliamentary colleagues for - I will not say "enjoyable" - an interesting afternoon.

Written Answers — Department of Finance: Capital Expenditure Programme (6 Oct 2016)

Michael Noonan: At an EU level, Ireland supports the European Commission's €315 billion Investment Plan for Europe which includes the European Fund for Strategic Investment (EFSI).  EFSI commenced operations in July 2015 and in May 2016 it was announced that it was part funding the Department of Health's primary care centres PPP project. There is also potential for EFSI to support a...

Written Answers — Department of Finance: Pension Provisions (6 Oct 2016)

Michael Noonan: I am informed by Revenue that an individual in a defined contribution pension savings arrangement has the option of putting the funds accumulated under the arrangement into an Approved Retirement Fund (ARF) on retirement, subject to conditions. Where such an individual is under the age of 75 at the time of exercising the option and does not meet the requirement of having a minimum...

Written Answers — Department of Finance: Property Tax Data (6 Oct 2016)

Michael Noonan: I propose to take Questions Nos. 80 and 82 together. I am advised by Revenue that as regards the numbers of properties owned by multiple property owners, the table shows the numbers of properties in the same ranges as provided in response to Parliamentary Question Number 193 of 27 September 2016.  Numbers of Properties Owned Between Total Number of Properties 200 - 300 2,513 301 -...

Written Answers — Department of Finance: Tax Code (6 Oct 2016)

Michael Noonan: I propose to take Questions Nos. 81, 84 and 88 together. The rates presently being discussed in the EU Commission proposal for a Financial Transactions Tax (FTT) are 0.1% on securities (shares and bonds) and 0.01% on derivatives and not the 0.1% rate on derivatives mentioned by the Deputy in her question. In relation to discussions at EU level, the position taken by this Government and the...

Written Answers — Department of Finance: Tax Code (6 Oct 2016)

Michael Noonan: With regard to the application of VAT on electricity bills supplied by utility companies, in accordance with section 37(1) of the Value-Added Tax Consolidation Act 2010, the amount on which VAT is chargeable is the total consideration receivable by the supplier, "including all taxes, commissions, costs and charges whatsoever", but not including the VAT itself.  This reflects EU VAT law,...

Written Answers — Department of Finance: IBRC Loans (6 Oct 2016)

Michael Noonan: I am advised by the IBRC Special Liquidators that for reasons of customer confidentiality and commercial sensitivity, they are precluded from providing the details sought in relation to the sale of the loans concerning individual customers.

Written Answers — Department of Finance: Tax Code (6 Oct 2016)

Michael Noonan: I am advised by Revenue that there is currently an annual exemption of up to €3,000 for gifts taken by any one beneficiary from any one donor in each calendar year (section 69 Capital Acquisitions Tax Consolidation Act (CATCA) 2003). Gifts with a value that are within this limit are not taken into account in computing tax and are not included in any future aggregation of benefits...

Written Answers — Department of Finance: Banking Sector Regulation (6 Oct 2016)

Michael Noonan: An "equity release loan" may include either a home reversion agreement, a lifetime mortgage or some other loan provided to a consumer borrower which is secured on the borrower's home. A home reversion agreement is one where an owner sells his/her home to a Home Reversion Firm (in return for a discounted sum or an income or both) subject to the right to continue to live in the residence until...

Written Answers — Department of Finance: VAT Rate Application (6 Oct 2016)

Michael Noonan: I am informed by Revenue that, while precise figures on the amount of VAT from the residential housing sector are not separately identified on VAT returns, the cost of applying a 9% special rate of VAT on the purchase of all new residential properties is tentatively estimated at €190m. As regards the application of the 9% rate to properties with a purchase price below...

Written Answers — Department of Finance: Departmental Funding (6 Oct 2016)

Michael Noonan: In respect of the 18 bodies under the aegis of my Department only one, the Disabled Drivers Medical Board of Appeal, is in receipt of funds from the Department of Finance Vote. Funding to this Board is by way of a recoupment of costs incurred by it during the course of the year. Recoupment takes place at the end of the year, at which time the costs are known so the premise quoted by the...

Written Answers — Department of Finance: Housing Provision (6 Oct 2016)

Michael Noonan: In theory a reduction in almost any tax could lead to an increase in output in a specific sector. For a reduction in VAT could, theoretically, lead to an increase in sales of particular goods or services. These considerations must be balanced against the potential negative impacts of changing the application of or the rates of tax and the need to fund the activities of the State. I...

Written Answers — Department of Finance: Tax Yield (6 Oct 2016)

Michael Noonan: I am informed that in Budget 1997, the rate of capital gains tax was cut from 40 per cent to 20 per cent (except for disposals of development land which remained taxed at 40 per cent later changed in Budget 2000). The rate change affected four months of the 1997-1998 tax year yield and the entire yield for 1998-1999. The CGT yield the figures for these years are as follows: 1996: £83...

Written Answers — Department of Finance: Tax Code (6 Oct 2016)

Michael Noonan: I am advised by Revenue that the 80% windfall tax relating to gains attributable to a rezoning of land does not apply to disposals on or after 1 January 2015. A rezoning means a change under the Planning and Development Act 2000 from non-development land use to development land use, that is, from agricultural and amenity uses to residential, commercial or industrial uses or a mixture of such...

Written Answers — Department of Finance: Tax Code (6 Oct 2016)

Michael Noonan: I am advised by Revenue that, in accordance with capital gains tax legislation, allowable losses arising on disposals of other types of assets may not be set off against chargeable gains arising on disposals of development land. However, allowable losses arising on disposals of development land may be set off against chargeable gains arising on disposals of development land. In addition,...

Written Answers — Department of Finance: Disabled Drivers Grant Appeals (5 Oct 2016)

Michael Noonan: I am informed by the Medical Board of Appeal that as of September 2016, there are 286 appeals active at the Disabled Drivers Medical Board of Appeal. Since January 2016 to date, the Board has heard 279 appeals. However, 2016 has seen an average monthly increase of 33% in the number of appeals lodged on previous years. In order to address this sudden increased demand, the Board has been...