Results 5,741-5,760 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Yield (22 Oct 2015)

Michael Noonan: I am informed by the Revenue Commissioners that an estimated 51% of income earners on Revenue records have gross income of €30,000 or less and these cases would contribute an estimated 20.4% of the total tax yield were a 23% flat tax implemented. Post Budget 2016, it is estimated that this group will pay 4.2% of total combined income tax and USC in 2016. For the purposes of these...

Written Answers — Department of Finance: Tax Code (22 Oct 2015)

Michael Noonan: I propose to take Questions Nos. 144 and 145 together. I am informed by the Revenue Commissioners that a Post-Budget 2016 Ready Reckoner is now available on the Revenue Statistics webpage at . This Ready Reckoner shows a wide range of information, including the costs of increasing the standard rate tax band.  While the Ready Reckoner does not show all of the specific costings requested...

Written Answers — Department of Finance: Budget Targets (22 Oct 2015)

Michael Noonan: Estimates of the gross and net fiscal space for the period 2017 to 2021 can be found in Tables A8 and A9 on pages C.50 and C.51 of the Budget 2016 book. The estimated net fiscal space available for 2017 is €0.5 billion and 2018 is €1.1 billion. Table A9 shows the walk from gross fiscal space to net fiscal space. The former is simply the permitted fiscal space...

Written Answers — Department of Finance: VAT Rate Application (21 Oct 2015)

Michael Noonan: Under EU VAT law, with which Irish VAT law must comply, economic activity in general is subject to VAT. In this context, the greyhound industry involves a variety of supplies of goods and services that come within the scope of VAT. With regard to greyhound food, the supply of dog food is liable to VAT at the standard VAT rate of 23%. However, a concession was introduced in Finance Act...

Written Answers — Department of Finance: Tax Code (21 Oct 2015)

Michael Noonan: I take it that the Deputy is referring to stamp duty in leases. I am advised by the Revenue Commissioners that a lease is chargeable to stamp duty on the rent payable under the lease as follows:  Residential and Non-residential Property Rate Lease for a term not exceeding 35 years or for any indefinite term 1% of the average annual rent Lease for a term exceeding 35 years but not...

Written Answers — Department of Finance: Bank Debt Restructuring (21 Oct 2015)

Michael Noonan: The Comptroller and Auditor General's (C&AG) Report on the Account of the Public Services 2014 (2014 Report) includes as chapter 3 a report on the Cost of Banking Stabilisation Measures as at end-2014.  The C&AG found that, by the end of 2014, the estimated net cost to the State of measures taken to stabilise the banking system was just under €60 billion. Net...

Written Answers — Department of Finance: Freedom of Information (21 Oct 2015)

Michael Noonan: As of 16th October, 2015 the number of freedom of information requests received by my Department was 354. My Department's electronic system which records receipt and completion of freedom of information requests does not record whether the FOI request was completed within the original 20 working days or whether a further 20 day extension was required. However I can say...

National Asset Management Agency: Motion [Private Members] (20 Oct 2015)

Michael Noonan: -----in the disastrous management of the affairs of the State, which fully explains the reason nominal values crashed and actual values are a small percentage of nominal values. That is a measure of the disaster. It is not proof of anything except that it crashed the economy.

National Asset Management Agency: Motion [Private Members] (20 Oct 2015)

Michael Noonan: It is the argument made by Deputy McGrath's colleagues.

National Asset Management Agency: Motion [Private Members] (20 Oct 2015)

Michael Noonan: It is the argument made by the Deputy's colleagues. I am very surprised because of the various disasters over which the previous Government presided. Brian Lenihan did his best. He brought NAMA in and made sure it was designed in a fashion which prevented political interference, and I will continue doing that.

National Asset Management Agency: Motion [Private Members] (20 Oct 2015)

Michael Noonan: I move amendment No. 1:To delete all words after “Dáil Éireann” and substitute the following:"notes that:— the Project Eagle loan sale was executed in an entirely proper manner; — attempts to conflate the National Asset Management Agency's open market loan sales process with allegations of wrongdoing on the buyer side of this transaction are entirely...

Proceeds of Sale of Aer Lingus: Motion (20 Oct 2015)

Michael Noonan: I move:That Dáil Éireann approves the payment by the Minister for Finance, pursuant to section 46(1) of the National Treasury Management Agency (Amendment) Act 2014, from the Central Fund to the Ireland Strategic Investment Fund of €335,272,562.50 (three-hundred and thirty-five million, two-hundred and seventy-two thousand, five-hundred and sixty-two euro and fifty cent)...

Written Answers — Department of Finance: Tax Rebates (20 Oct 2015)

Michael Noonan: StartUp Refunds for Entrepreneurs (SURE) provides for a refund of income tax paid in previous years by an employee, an unemployed person or an individual who has been made redundant recently and starts their own qualifying business. A dedicated website contains a wealth of information on the scheme and an easy to use online calculator, which allows entrepreneurs to input their details in...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (20 Oct 2015)

Michael Noonan: The Disabled Drivers Medical Board of Appeal have informed me that the person concerned will be seen by the Board on 28 January 2016. Regulation 6(1)(e) of the Disabled Drivers and Disabled Passengers (Tax Concession) Regulations 1994 (S.I. 353 of 1994) mandates that the Medical Board of Appeal is independent in the exercise of its functions.

Written Answers — Department of Finance: Tax Code (20 Oct 2015)

Michael Noonan: From the limited details supplied, I am assuming that the individual in this case has an approved minimum retirement fund (AMRF) with the Life Office concerned which she wishes to access on attaining the age of 75 in 2016. An AMRF is essentially a special restricted type of Approved Retirement Fund (ARF), the purpose of which is to ensure that an individual who wishes to avail of an...

Written Answers — Department of Finance: Tax Code (20 Oct 2015)

Michael Noonan: I am informed by  Revenue  that, under the Ireland/United Kingdom Double Taxation Convention, and in common with double taxation agreements generally, a taxing right in respect of income and capital gains from immovable property is given to the Contracting State Ireland or the United Kingdom in which the property is situated.  However, Article 14A of the Convention modifies...

Written Answers — Department of Finance: Mortgage Interest Rates (20 Oct 2015)

Michael Noonan: I have been informed by Permanent TSB that the SVR 'Switch' offering could save variable rate customers up to 80bps and not 1% as the Deputy has stated in the question.  I have also been informed that there is no current deadline to avail of this offer. As outlined in the Invite Letter which was provided to customers the process is as...

Written Answers — Department of Finance: Credit Unions (20 Oct 2015)

Michael Noonan: I propose to take Questions Nos. 244 and 283 together. The Credit Union and Co-operation with Overseas Regulators Act 2012 was signed into law by the President in December 2012. It was agreed at that time that it would be neither practical nor feasible to commence the Act in its entirety in one fell swoop. Following that, an implementation timetable for the 2012 Act was devised...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Applications (20 Oct 2015)

Michael Noonan: The Home Renovation Incentive was designed to be easy to apply for. Contractors can enter details of works carried out in the same manner as they already submit their tax returns, and homeowners can view details of the credit they will receive through PAYE anytime. The amount of credit due accumulates automatically as each set of works is carried out and the associated application is...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (20 Oct 2015)

Michael Noonan: I am informed by the Disabled Drivers Medical Board of Appeal that based on demand, clinics are held outside the Dublin area from time to time. In this regard, I am informed that one clinic per year has been held in Cork City over the past three years, and the Board plans to hold one in Cork in August or September of 2016. Regulation 6(1)(e) of the Disabled Drivers and...