Results 4,861-4,880 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Irish Fiscal Advisory Council (17 Dec 2015)

Michael Noonan: The Fiscal Responsibility Act 2012 established the Irish Fiscal Advisory Council on a statutory basis in December 2012. The Council consists of five members, including the Chair. Further details about the operating costs and the number of staff employed by the Council set out for 2013 and 2014 in the following table can be accessed in the Annual Accounts of the Council which are...

Written Answers — Department of Finance: IBRC Liquidation (17 Dec 2015)

Michael Noonan: I am advised by the Special Liquidators that they intend to issue their third progress update report on the Special Liquidation of IBRC in the first quarter of 2016. Included in this update report will be the work the Special Liquidators have undertaken in relation to the IBRC Commission of Investigation including details of the costs incurred to date by...

Written Answers — Department of Finance: Property Tax Yield (17 Dec 2015)

Michael Noonan: I am advised by the Revenue Commissioners that statistics relating to Local Property Tax (LPT) can be found on the statistics webpage of the Revenue website at . Specifically, the most recently available LPT information, including LPT collected by each Local Authority area, is available at . I am further advised that while gross receipts figures are not available, given the nature of LPT it...

Written Answers — Department of Finance: Insurance Compensation Fund (17 Dec 2015)

Michael Noonan: The liquidation of an insurance company is a legally complex process.  Setanta is a Maltese incorporated company and, therefore, the Setanta liquidation is being carried out under Maltese law.  Progress in the liquidation of Setanta Insurance has been awaiting the outcome of legal proceedings in the case of the Law Society of Ireland versus the Motor Insurers' Bureau of Ireland...

Written Answers — Department of Finance: Freedom of Information Fees (17 Dec 2015)

Michael Noonan: The fees received by my Department in respect of the operation of the Freedom of Information Act 2014 in 2014 and to 14 December 2015 are set out in the following table. Since the commencement of the Freedom of Information Act, 2014 no fees are charged in respect of receipt of freedom of information requests.  Year Application Fees Search & Retrieval Internal Review...

Written Answers — Department of Finance: Ministerial Staff (17 Dec 2015)

Michael Noonan: I wish to advise the Deputy that the number of political staff in my Department is four. Below you will find a list of their roles and annual salaries. Role: Salary: Special Adviser €87,258 Personal Assistant €54,490 Civilian Driver €32,965.71 Civilian Driver €32,965.71 I do not have a Personal Secretary. The number of political staff and...

Written Answers — Department of Finance: Legislative Process RIA (17 Dec 2015)

Michael Noonan: It has not been possible to collate the information requested in the time available. However the requested information will be collated and forwarded to the Deputy in writing.

Written Answers — Department of Finance: Central Credit Register (17 Dec 2015)

Michael Noonan: I am advised by the Central Bank of Ireland that it plans to have a Central Credit Register (CCR) solution in place by mid-2016. To date, the Central Bank has: - Signed contracts with CRIF Ireland Limited in February 2015 to establish and operate the CCR on its behalf; - Progressed a design stage to specify the detailed data requirements  and conducted a data survey with representative...

Written Answers — Department of Finance: Mortgage Lending (17 Dec 2015)

Michael Noonan: The Central Bank has advised me that it is important to note that there is no such regulated category as "sub-prime lender".  However, Retail Credit Firms are authorised to provide credit, in the form of cash loans, directly to individuals (these firms are not licensed to accept deposits).  Some firms authorised in this category are mortgage lenders.  Retail Credit Firms have...

Written Answers — Department of Finance: Tax Code (17 Dec 2015)

Michael Noonan: As regards properties that are rented, an individual may be allowed a deduction of 75% of the interest paid on borrowed money used to purchase, improve or repair rented premises when calculating rental income. There are also a number of other allowances and deductions available to reduce the tax on rental income paid. These include, for example, the cost to the landlord of any goods...

Written Answers — Department of Finance: VAT Rate Application (17 Dec 2015)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. In this regard, the rate of VAT that applies to a particular good or service is determined by the nature of the good or service, and not by the status of the customer. Children's clothing and footwear are subject to the zero rate for children which is defined as the...

Written Answers — Department of Finance: Mortgage Interest Relief Expenditure (17 Dec 2015)

Michael Noonan: As I advised the Deputy in response to his Question No. 74 of 26 November 2015, figures for the cost of mortgage interest relief in 2014 and 2015 are highly provisional. The cost of relief for 2016 and 2017 will depend on a variety of factors, including the numbers of mortgages, the monetary amount of the qualifying loans taken out, the rate of relief applying to those qualifying loans,...

Written Answers — Department of Finance: NAMA Expenditure (17 Dec 2015)

Michael Noonan: The information sought by the Deputy is set out in the following table. Period Appointments Total Fees €m* 2010 79 2.06 2011 67 15.45 2012 64 19.66 2013 101 22.29 2014 73 23.02 2015 to date 23 17.32Notes: *Receiver fees form part of the receivership and are met out of receivership realisations.  Fees for an insolvency are set by reference to the procurement process...

Written Answers — Department of Finance: Promissory Notes (17 Dec 2015)

Michael Noonan: The Offering Circulars for the Floating Rate Notes are available on the NTMA website at . These outline the individual interest rate applied to each FRN. The nominal outstanding of the FRNs is now €23.034bn and not €25bn. The interest rates applied range from 6-mth Euribor +253bps to +268bps. 6-mth Euribor today is -3.9bps. The 6-month Euribor is reset every 6 months....

Written Answers — Department of Finance: EU State Aid Negotiations (17 Dec 2015)

Michael Noonan: It has not been possible to collate the information requested in the time available. However the requested information will be collated and forwarded to the Deputy in writing.

Written Answers — Department of Finance: NAMA Social Housing Provision (17 Dec 2015)

Michael Noonan: I am advised that NAMA has made a substantial contribution to social housing provision, as illustrated by the breakdown set out in the following table. NAMA has to date facilitated the delivery of 2,000 houses and apartments for social housing through its debtors and receivers and directly through its social housing special purpose company, NARPS.  This equates to more than one-third of...

Written Answers — Department of Finance: NAMA Operations (17 Dec 2015)

Michael Noonan: I am advised by NAMA that it has received 388 eligible rent abatement applications through its debtors and receivers. NAMA has approved 376 of these and declined just 12. NAMA approved rent abatements are worth €24m annually to the SME retail sector in Ireland.

Written Answers — Department of Finance: Tax Reliefs Application (17 Dec 2015)

Michael Noonan: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes. The SFT was reduced in Budget 2014 and Finance (No 2) Act 2013 from €2.3 million to a level of €2 million, with effect from 1 January 2014. The legislation provided that any individual who had pension rights in excess of the SFT limit at the relevant date (i.e. 1...

Written Answers — Department of Finance: Tax Reliefs Application (17 Dec 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the potential yield to the Exchequer in 2014 of restricting tax relief on private medical insurance policies to the first €1,000 of a premium is tentatively estimated to be in the order of €151 million.

Written Answers — Department of Finance: Negative Equity Mortgages Data (17 Dec 2015)

Michael Noonan: Negative equity occurs when the price of a property falls below the value of the outstanding mortgage secured on that property.I have been informed by the Central Bank of Ireland that it does not publish a regular series of data on mortgages in negative equity.Neither do officials in my own Department collect such data. The Central Bank's latest Household Credit Market Report, at,...