Results 5,681-5,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Personal Public Service Numbers (3 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the requirement for a Personal Public Service Number (PPSN) ensures that the aggregation of gifts and inheritances from different disponers, as required for the calculation of Capital Acquisitions Tax liabilities, is correctly dealt with, thereby ensuring that the correct reliefs are applied and the correct amount of tax is paid.  As regards...

Written Answers — Department of Finance: Appointments to State Boards (3 Nov 2015)

Michael Noonan: In response to the Deputy's query, please find, in tabular form, the name of each appointee made; the date of appointment; whether or not each appointee came through an advertised public application process and the number of vacancies which presently exist on State Boards, in period March 2011 to date 2015. I have included ex officiomembers in the figures provided. I would ask...

Written Answers — Department of Finance: Investor Compensation Company Limited (3 Nov 2015)

Michael Noonan: By way of background, the Investor Compensation Company Limited (ICCL) was set up in compliance with section 10 of the Investor Compensation Act 1998 ('the Act').  It has a defined set of objectives, the most important of which is to establish and maintain funds from which clients can be paid compensation in the event that an investment firm fails to return money or investments which are...

Written Answers — Department of Finance: Tax Rebates (3 Nov 2015)

Michael Noonan: In accordance with Section 865 of the Taxes Consolidation Act 1997 any claim for repayment of tax must be made within 4 years after the end of the year to which the claim relates. I am advised by Revenue that following a contact from the persons concerned in November 2014 a review of their tax affairs was undertaken by Revenue for the years 2010 to 2013 inclusive and tax repayments were...

Written Answers — Department of Finance: Tax Code (3 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 290 and 317 together. I am advised by the Revenue Commissioners that the position regarding tax allowances and credits for couples living together is as follows. Where a couple is cohabiting, rather than married or in a civil partnership, each partner is treated for the purposes of income tax as a separate and unconnected individual. As a consequence credits,...

Written Answers — Department of Finance: Central Bank of Ireland (3 Nov 2015)

Michael Noonan: Every year, in order to cover the costs of financial regulation, the Central Bank prescribes levies to be paid by entities subject to such regulation. The Central Bank had briefed industry representatives in August that it was proposing significant increases in those levies in 2015. The proposed increases were driven by a proliferation of legislative regulation and...

Written Answers — Department of Finance: Tax Exemptions (3 Nov 2015)

Michael Noonan: When an individual receives an inheritance the rate of Capital Acquisitions Tax (CAT) due and the tax-free threshold to which the individual is entitled are those in place on the date of inheritance, which is defined as the date of the latest death that had to occur for the successor to become beneficially entitled to the property. I have received representations suggesting that instead of...

Written Answers — Department of Finance: Credit Unions (3 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 293, 311, 327 and 333 together. The Government recognises the distinct and important role that credit unions play in Irish society and the financial sector and is committed, with the Central Bank, to achieving our vision of financially strong, well governed credit unions providing services to current and future members. I have been informed by the...

Written Answers — Department of Finance: Currency Circulation (3 Nov 2015)

Michael Noonan: Rounding of cash transactions has been rolled out from 28th October 2015. Participation in rounding is voluntary for retailers and consumers.  It is expected that the introduction of rounding will reduce the use of 1 cent and 2 cent coins. The production costs of 1c coins exceed their face value (unit cost of 1.65c), while the production costs of 2 cent coins...

Written Answers — Department of Finance: European Central Bank (3 Nov 2015)

Michael Noonan: Under the European Central Bank's Expanded Asset Purchase Programme, often referred to as "Quantitative Easing", the eurosystem (comprising the ECB and the national central banks of the euro area) has been purchasing €60 billion of public and private assets per month and plan to do so until at least September 2016, or until there is an improvement in inflation to levels consistent with...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (3 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the application for the HRI tax credit must be submitted through Revenue's MyAccount portal at . As previously explained, there is no paper process for HRI. The HRI system accumulates the value of the various qualifying works carried out, thereby simplifying the process of claiming the tax credit, but the application requires an electronic...

Written Answers — Department of Finance: Mortgage Interest Rates (3 Nov 2015)

Michael Noonan: As the Deputy will be aware, I have taken steps to ensure that the banks provide options for mortgage holders to reduce their monthly repayments. Last May, I requested a report from the Central Bank on the topic which I subsequently published. This report was entitled 'Influences on Standard Variable Rate Pricing in Ireland'. The Central Bank has informed me that in its research on...

Written Answers — Department of Finance: Property Tax Yield (3 Nov 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, LPT information including LPT collected by Local Authority, are available at . The Deputy may wish to note that the data in respect of the months from January to end September 2014 can be accessed in the earlier version...

Written Answers — Department of Finance: NAMA Operations (3 Nov 2015)

Michael Noonan: I propose to take Questions Nos. 299 and 300 together. As the Deputy is aware NAMA has acquired loans from five participating institutions and is not the owner or manager of properties.  NAMA's role is, like a bank, that of a secured lender.Properties securing NAMA's loans are managed by their existing owners or, in the case of enforcement, on NAMA's behalf by duly appointed...

Written Answers — Department of Finance: Living City Initiative (3 Nov 2015)

Michael Noonan: I am advised by the Revenue Commissioners that, in relation to the Living City Initiative, applications are only required to be made to the relevant local authority under the residential element of the scheme. Applications are not required to be made under the commercial element of the scheme. Since the scheme launched in May 2015, based on information received from the councils to date,...

Written Answers — Department of Finance: Banking Sector (3 Nov 2015)

Michael Noonan: I am advised that the banks disclose  information on their loan activities to the various sectors in their Interim and Annual Reports. The information disclosed relates only to loans that have been drawn down and not loans sanctioned. All relevant disclosures in relation to AIB's Property & Construction loan portfolio are contained in the Risk Management section of their reports,...

Written Answers — Department of Finance: Tax Exemptions (3 Nov 2015)

Michael Noonan: It is assumed that the Deputy is referring to Question No. 83 from 30 September 2015. I can confirm that Budget 2016 made no change to the position as outlined in that response.

Written Answers — Department of Finance: Tax Code (3 Nov 2015)

Michael Noonan: Creating jobs and rewarding work is a key driver of growth and prosperity in the economy. It is critical that work pays for every family. The tax system has a role to play in supporting job creation and the maintenance of existing jobs. As the Deputy will be aware, there are costs associated with hiring an employee, which include the wages of that employee and the relevant employer's...

Written Answers — Department of Finance: Tax Exemptions (3 Nov 2015)

Michael Noonan: I have no plans to introduce a measure along the lines suggested by the Deputy. The Deputy will appreciate that tax reliefs and exemptions have costs which have to be paid for and their introduction must be considered only where there is a clear economic and social policy need to be addressed. Stamp Duties are payable on the acquisition of residential property. The current rates are...

Written Answers — Department of Finance: Tax Exemptions (3 Nov 2015)

Michael Noonan: I have no plans to introduce a tax exemption as suggested by the Deputy. I am assuming that the suggestion is being made in the context of the housing supply issues which we face and while I appreciate the intention, I do not believe that the proposal offers any real solution to the problems involved. It is Government policy to tackle the impediments and barriers to housing supply and the...