Results 6,541-6,560 of 16,537 for speaker:Brian Lenihan Jnr

Finance Bill 2009: Report and Final Stages (27 May 2009)

Brian Lenihan Jnr: I appreciate Deputy Burton's acknowledgement, as I am sure will the Revenue Commissioners, that there have been substantial improvements in the customer-friendly character of this body. The amendment seeks to change how the Ombudsman prepares her report, but I know Deputy Burton is anxious to broaden the subject to include a taxpayers' advocate. We can consider this first from the point of...

Finance Bill 2009: Report and Final Stages (27 May 2009)

Brian Lenihan Jnr: I did not use the word "toast".

Finance Bill 2009: Report and Final Stages (27 May 2009)

Brian Lenihan Jnr: No such luck.

Finance Bill 2009: Report and Final Stages (27 May 2009)

Brian Lenihan Jnr: It is not to get Fianna Fáil out of the mess.

Finance Bill 2009: Report and Final Stages (27 May 2009)

Brian Lenihan Jnr: I should start with Deputy Burton's amendment, but I want to deal with Deputy Bruton's points first. It is envisaged that the Commission on Taxation will report at the end of July. As regards this particular amendment, the commission is not under my direction, but is independent. It exists to furnish us with an assessment of how the tax system can be reformed. It is looking at the issue...

Finance Bill 2009: Report and Final Stages (27 May 2009)

Brian Lenihan Jnr: I am glad the Deputy believes that, but it is not true.

Finance Bill 2009: Report and Final Stages (27 May 2009)

Brian Lenihan Jnr: The Deputy is not bad at it herself.

Written Answers — Regulations Review: Regulations Review (26 May 2009)

Brian Lenihan Jnr: I have no plans to repeal section 9 of the Financial Emergency Measures in Public Interest Act 2009. However, I understand that the Minister for Health and Children in accordance with the legislation will be initiating a review before 30 June 2010 of the operation of regulations made under the section.

Written Answers — Insurance Industry: Insurance Industry (26 May 2009)

Brian Lenihan Jnr: The pricing of insurance products reflect a broad range of factors, including for example, the level of cover, the number of claims, legal and administration costs, the cost of fraud as well as the overall cost level in the economy. My Department has been advised by the Financial Regulator that while the non-life insurance market performed well up to the end of 2006, market sources indicate...

Written Answers — Tax Code: Tax Code (26 May 2009)

Brian Lenihan Jnr: I have been informed by the Revenue Commissioners that section 124 of the Stamp Duties Consolidation Act 1999 provides for a stamp duty charge in respect of credit cards. The primary determining factor in establishing a charge to stamp duty on a credit card is that the individual credit card holder has an address in the State. Accordingly, where an individual has an address in the State a...

Written Answers — Departmental Expenditure: Departmental Expenditure (26 May 2009)

Brian Lenihan Jnr: It is assumed that the Deputy is referring to the cost of managing issues arising from alcohol and drug misuse by officers of the Department. Departments do not contribute in any way to the actual cost of treatment programmes; the only cost incurred is in the payment of the appropriate rate of pay, while the staff member participates in a residential programme. While there are indirect...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (26 May 2009)

Brian Lenihan Jnr: I am assuming that the Deputy is referring to my dealings with those financial institutions covered by the Bank Guarantee Scheme. I am advised that the number of owner-occupier homeowners on fixed rate mortgages is in the region of 96,000, based on information recently provided by the covered institutions. Generally mortgages are for long periods. To some consumers a fixed interest rate on a...

Written Answers — Tax Code: Tax Code (26 May 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that the taxpayer returned to work in August 2008. The Department of Social and Family Affairs normally notify the employer of the weekly taxable disability benefit and the date that it commenced. Unfortunately, because the Department of Social and Family Affairs records were not fully up to date, this did not occur in this instance. When a...

Written Answers — Tax Code: Tax Code (26 May 2009)

Brian Lenihan Jnr: The position is that any individual with an entitlement to a full medical card is exempt from paying the income levy. I am advised by the Revenue Commissioners that this person holds a full medical card and the income levy is not being deducted.

Written Answers — Tax Yield: Tax Yield (26 May 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the Betting Duty received for the months January to April 2008 was €15.36 million and the provisional yield for the same period in 2009 is €13 million.

Written Answers — Financial Services Regulation: Financial Services Regulation (26 May 2009)

Brian Lenihan Jnr: There already is in place an appeals mechanism for people who believe that they are not being treated fairly by financial institutions. Where a customer of a financial service provider, regulated by the Financial Regulator, complains in writing to a financial institution regarding a particular matter and this fails to resolve it to her / his satisfaction, s/he may take the complaint up...

Written Answers — Financial Services Regulation: Financial Services Regulation (26 May 2009)

Brian Lenihan Jnr: The Deputy may wish to note that the financial structure of credit unions as mutual societies owned by their members is that they are not subject to capital requirements. Rather, under the legal framework for credit unions set out in the Credit Union Act 1997, a credit union must allocate 10% of each year's surplus to a statutory reserve. According to the prudential return for credit unions...

Written Answers — Pension Provisions: Pension Provisions (26 May 2009)

Brian Lenihan Jnr: I announced in my Supplementary Budget on 7 April 2009 that a 1% levy was being introduced on life assurance premiums from 1 June 2009. However, following talks with the industry, this date has been changed to allow for a lead-in period. The implementation date, as set out in the Finance Bill is 1 August 2009. The life levy applies to all premium income regarding policies of insurance...

Written Answers — Pension Provisions: Pension Provisions (26 May 2009)

Brian Lenihan Jnr: The income levy applies to all emoluments of an employment, including anything treated as a taxable benefit-in-kind. The position is that an employer contribution to a personal retirement savings account (PRSA) is chargeable to income tax in the hands of the employee as a benefit-in-kind under section 118 of the Taxes Consolidation Act 1997. As the income levy treatment follows the income...

Written Answers — Tax Code: Tax Code (26 May 2009)

Brian Lenihan Jnr: Firstly, as regards the criteria for entitlement to the incapacitated child tax credit, the position is that section 465 of the Taxes Consolidation Act 1997 provides for a tax credit of €3,660 for the tax year 2009 where the claimant has living with him or her any child who, at any time during the relevant tax year to which the claim refers - (a) is under the age of 18 years and is...