Results 6,681-6,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Eligibility (30 Jun 2015)

Michael Noonan: Section 469 of the Taxes Consolidation Act 1997 provides for relief for health expenses defrayed in the provision of orthodontic health care by an individual on his or her own behalf or on behalf of others. Where certain orthodontic care is available in Ireland but the customer opts to have the treatment outside the State expenses may qualify for tax relief. However, Section 469(3)(c) TCA...

Written Answers — Department of Finance: Property Tax Application (30 Jun 2015)

Michael Noonan: The introduction of a local property tax is part of a broader approach to the taxation of property. The aim is to replace some of the revenue from transaction based taxes, which have proven to be an unstable source of Government revenue, with an annual recurring property tax, which international experience has shown to be a stable source of funding.  The Government decided that the...

Written Answers — Department of Finance: Property Tax (30 Jun 2015)

Michael Noonan: The review to which the Deputy refers has regard to a number of issues which have arisen in relation to the administration of the LPT including recent residential property price developments, the overall yield from LPT and the desirability of achieving relative stability in LPT payments and the matter of the operation of the pyrite exemption provisions.  I understand the Review...

Written Answers — Department of Finance: Tax Code (30 Jun 2015)

Michael Noonan: I assume the Deputy is referring to the different deductions available against rental income for commercial and residential property. In that regard, I am informed by the Revenue Commissioners that rental income for tax purposes is the gross rental income less allowable expenses incurred in earning that rent, as specified in section 97(2) of the Taxes Consolidation Act 1997. The main...

Written Answers — Department of Finance: Tax Code (30 Jun 2015)

Michael Noonan: A REIT is a collective investment vehicle which provides the same after-tax returns to investors as direct investment in rental property, by eliminating the double layer of taxation at corporate and shareholder level which would otherwise apply. The double layer of taxation applies where an individual invests in property through a company. The company must pay corporation tax on rental...

Written Answers — Department of Finance: Tax Code (30 Jun 2015)

Michael Noonan: This question relates to the interest restriction applying to residential lettings, whereby the deductibility of interest in computing taxable rental income from residential property (insofar as it would otherwise be allowable) is limited to 75% of such interest. The restriction was introduced in the April 2009 Supplementary Budget in respect of all residential lettings as part of an urgent...

Written Answers — Department of Finance: Tax Reliefs Availability (30 Jun 2015)

Michael Noonan: I understand that this question relates to transactions to which capital gains tax (CGT) relief for farm restructuring under section 604B Taxes Consolidation Act 1997 may be sought. The details relating to this relief are set out hereunder. As regards a special tax relief for land previously owned by the Land Commission, I can say that no specific relief in relation to such land has ever...

Written Answers — Department of Finance: Tax Collection (30 Jun 2015)

Michael Noonan: I propose to takes Questions Nos. 226 and 227 together. I dealt comprehensively with questions relating to C2 Certificates in my responses to Parliamentary Question No. 9433/15 on 4 March 2015 and Parliamentary Question No. 13903/15 on 15April 2015, both of which were put down by the Deputy. I previously explained that the National C2 Monitoring Group no longer exists and that the C2...

Written Answers — Department of Finance: NAMA Expenditure (30 Jun 2015)

Michael Noonan: I am advised by NAMA that the breakdown of firms/persons who received over €20,000 in respect of work for National Asset Management Agency in 2014 under the headings requested is as follows: The following figures are based on invoices paid during 2014 financial year and exclude accruals and prepayments. Portfolio Transition Costs Supplier Name Amt €'0 00 IBRC - Irish Bank...

Written Answers — Department of Finance: NAMA Staff Data (30 Jun 2015)

Michael Noonan: I am advised by NAMA that 17 NTMA staff assigned to NAMA under Section 42 of the NAMA Act were placed on garden leave during 2014 with an attributable cost of approximately €400,000 inclusive of Employer's PRSI.NTMA staff are employed on the basis of confidential individually negotiated contracts. I am further advised by NAMA that garden leave does not represent an incremental...

Written Answers — Department of Finance: NAMA Staff Remuneration (30 Jun 2015)

Michael Noonan: I am advised that the NTMA made performance-related payments to 16 staff in respect of 2014. These payments, in aggregate, totalled €79,200. No performance-related payments were made to any employee earning a salary of over €150,000. I am also advised that no such performance-related payments were made to any staff assigned to NAMA. I am further advised by the NTMA...

Written Answers — Department of Finance: Prize Bonds (30 Jun 2015)

Michael Noonan: The Deputy previously asked if I would review the requirement that gift purchases of prize bonds for as little as €25 be subject to the obligation to provide evidence of identity. Following consideration by Officials from both my Department and the NTMA I am pleased to inform you that it was agreed that, in certain circumstances, there is no longer an obligation to provide evidence...

Written Answers — Department of Finance: Pensions Levy (30 Jun 2015)

Michael Noonan: I announced in my Budget 2014 speech that the original 0.6% levy introduced in 2011 to fund the Jobs Initiative would be abolished after 2014 and that levy no longer applies. I did, however introduce an additional levy on pension funds at 0.15% for 2014 and 2015. I did this to, among other things, continue to help fund the Jobs Initiative. I confirmed in my Budget 2015 speech that the...

Written Answers — Department of Finance: NAMA Social Housing Provision (30 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 233 and 234 together. It is clear that NAMA is a making a substantial contribution to the provision of social housing. Since 2012, under an initiative agreed with the then Minister for the Environment, Community and Local Government, NAMA has identified 6,391 houses and apartments held by its debtors and receivers as being available and potentially suitable...

Written Answers — Department of Finance: Tax Rebates (30 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned may be entitled to a refund of DIRT under the First-Time Buyers Scheme. Revenue will make direct contact with the person concerned and will provide her with any necessary forms to allow her make a refund application.

Written Answers — Department of Finance: IBRC Loans (30 Jun 2015)

Michael Noonan: In relation to the first part of the question posed, as the Deputy will be aware the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit term of reference (1b) dealing with issues of public concern: The Commission shall investigate all transactions, activities and management decisions, other than those relating solely to the...

Written Answers — Department of Finance: Banking Sector Staff (30 Jun 2015)

Michael Noonan: As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks in which it holds investments or their management decisions regarding commercial matters and hence any discussions around matters such as outsourcing are a matter for the bank, the relevant staff and their union representatives. Notwithstanding...

Written Answers — Department of Finance: Tax Reliefs Abolition (30 Jun 2015)

Michael Noonan: I understand the Deputy to be referring to reliefs or credits eliminated or commencing to be phased out following changes made in the Finance Acts in 2012 and 2013. The tax reliefs and credits which follow were ceased or are being phased out as a consequence of those Acts. I am advised by the Revenue Commissioners that Exchequer costs or savings are not available for all measures referred...

Written Answers — Department of Finance: Carbon Tax Collection (30 Jun 2015)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of solid fuel carbon tax (SFCT), that the tax is returned on a self-assessed basis and is subject to the full range of compliance tools for self-assessed taxes, including risk profiling, audit and compliance interventions and debt enforcement. In circumstances where there are grounds to believe that tax due...

Written Answers — Department of Finance: Property Tax (30 Jun 2015)

Michael Noonan: I am very conscious of the concerns of homeowners, particularly those in urban areas, as regards increasing property prices and the effects this would have on their LPT liabilities.  With a view to addressing these concerns, I have asked Dr. Don Thornhill, who chaired the 2012 Inter-Departmental Group which designed the Local Property Tax (LPT), to conduct a review...