Results 8,321-8,340 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: Capital Acquisitions Tax is the overall name for both gift and inheritance tax. I am informed by the Revenue Commissioners that for the purposes of Capital Acquisitions Tax, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary) determines the maximum tax-free threshold known as...

Written Answers — Department of Finance: Proposed Legislation (17 Feb 2015)

Michael Noonan: The Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 was published in January and second stage of the Bill was taken in the Dáil on 4 February.  Since then, my officials have been in contact with the Central Bank and with the Office of the Attorney General to further progress the legislation. It remains my intention to ensure that borrowers...

Written Answers — Department of Finance: Tax Credits (17 Feb 2015)

Michael Noonan: The Single Person Child Carer Credit (SPCCC) replaced the One Parent Family Tax Credit with effect from 1 January 2014.  The SPCCC is available only to the primary carer of the relevant child, subject to certain conditions, as set out on Revenue's website at . I am informed by Revenue that the person concerned has been in direct contact with them. Based on the information provided and,...

Written Answers — Department of Finance: Mortgage Interest Rates (17 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 224 to 227, inclusive, together. I have been informed by permanent tsb ("PTSB") that it is currently subject to an Enforcement Investigation by the Central Bank in relation to the circumstances in which the bank refused to allow certain customers who had switched from a tracker rate mortgage to a fixed rate mortgage for an agreed term...

Written Answers — Department of Finance: Banking Sector Regulation (17 Feb 2015)

Michael Noonan: Statutory Instrument No. 47 of 2015 entitled, "Central Bank (Supervision and Enforcement) Act 2013 (Section 48) (Housing Loan Requirements) Regulations 2015", was signed by the Governor of the Central Bank of Ireland on 9 February 2015. The Regulations were subsequently laid before the Houses of the Oireachtas and are now in effect.

Written Answers — Department of Finance: Insurance Industry Regulation (17 Feb 2015)

Michael Noonan: The current legal and regulatory framework for the provision of insurance in the European Economic Area, and the supervision of that activity, is prescribed by European Union Law in the Life and Non-Life Insurance Directives. Following negotiations that were completed at European level in November 2013, a new regime known as Solvency II will commence on 1 January...

Written Answers — Department of Finance: Tax Data (17 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the information requested by the Deputy, estimated by reference to the tax year 2015, is set out in the following table. All Income Earners for Income Tax Year 2015 Range of Gross Income € Estimated Effective Income Tax Rate % 1,001 - 20,000 0.61% 20,001 - 32,800 4.47% 32,801 -  50,000 9.69% 50,001 - 70,000 14.95% 70,001...

Written Answers — Department of Finance: EU Funding (17 Feb 2015)

Michael Noonan: I presume that the Deputy is asking about the European Fund for Strategic Infrastructure (EFSI) or the so called Juncker plan and the link between it and the indicative project list submitted at the end of last year as part of the work of the EIB-Commission Task Force on developing an Investment Project pipeline in the EU.  The Irish project list was part of an EU wide...

Written Answers — Department of Finance: Departmental Expenditure (17 Feb 2015)

Michael Noonan: The Office of the Paymaster General in my Department makes occupational pension payments on behalf of the Superannuation Vote and a number of other public sector entities. In that regard, consideration of the implications of the move to Eircodes is only at an early stage and there is no estimate of the likely cost, though it is not anticipated that it will be significant. The pension...

Written Answers — Department of Finance: Banks Recapitalisation (12 Feb 2015)

Michael Noonan: There is no intention to take the actions to which the Deputy has referred.

Written Answers — Department of Finance: European Central Bank (12 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 65 and 66 together. The announcement by the ECB on 22nd January to purchase €60 billion of public and private assets per month from March is intended to help reverse the decline in inflationary expectations and ultimately to ensure price stability in the euro area. By reducing the likelihood of deflation, this should help support consumer spending...

Written Answers — Department of Finance: Economic Policy (12 Feb 2015)

Michael Noonan: Under European Council Regulation 1175/2011, each Member State is required to present an annual update of its Stability Programme to the European Commission and European Council by end-April. The Stability Programme Update (SPU) sets out the Government's budgetary objectives and the main economic assumptions underpinning them over the medium term.  This year, Ireland's SPU will be...

Written Answers — Department of Finance: Property Tax Collection (12 Feb 2015)

Michael Noonan: I am assuming that the Deputy's Question relates to a property owner who owns more than one property.  In relation to owners of a single property, the taxpayer has the option of filing Local Property Tax (LPT) either on paper or electronically (although payment electronically is encouraged as being the most efficient and cost effective for both the taxpayer and Revenue).  ...

Written Answers — Department of Finance: Mental Health Awareness (12 Feb 2015)

Michael Noonan: In response to the Deputy's question my Department is part of the Government Buildings Complex which includes the Department of the Taoiseach. My Department does not have a separate flag pole and therefore  decisions regarding the flags for the complex are taken by the Department of the Taoiseach.

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Establishment (12 Feb 2015)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) is built on the foundation stone that was laid by the Taoiseach and Chancellor Merkel when they agreed that the German promotional bank Kreditanstalt für Wiederaufbau (KfW) would help finance the Irish SME sector when Ireland was exiting the EU/IMF programme in late 2013. I asked my Department and the National...

Written Answers — Department of Finance: Tax Rebates (12 Feb 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that they are statutorily debarred from making repayments of tax outside of the four year period from the end of the tax year in respect of which the tax was paid, other than in very specific circumstances (for example, where there is an arithmetical error in an assessment).  Equally, Revenue can not seek payment of tax from a taxpayer...

Written Answers — Department of Finance: Fuel Fraud (12 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners, who are responsible for tackling fuel fraud, that they are very aware of the risks posed to consumers' vehicles, legitimate businesses and the Exchequer by all forms of fuel fraud. Revenue has, since last summer, received reports from a variety of locations around the country of problems relating to petrol quality, and suggestions that these...

Written Answers — Department of Finance: Property Tax Deferrals (12 Feb 2015)

Michael Noonan: I am advised that the most recent Local Property Tax (LPT) information published by the Revenue Commissioners shows that there are around 24,200 and 24,100 properties for which claims for deferral have been filed for 2013 and 2014 respectively. The most up to date figures are published on the Revenue Commissioners website at and these will be updated in due course.

Written Answers — Department of Finance: Mortgage Data (12 Feb 2015)

Michael Noonan: The Central Bank has advised that there is no such regulated category as 'sub-prime' lender but that phrase is sometimes used to refer to some non-deposit taking 'retail credit firms'. Retail credit firms are a regulated category of entities which are authorised to provide credit (in the form of cash loans) directly to individuals. Some firms authorised in this category are mortgage lenders....

Written Answers — Department of Finance: Mortgage Interest Relief Expenditure (12 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that, on the basis of returns in respect of eligible tax relief at source (TRS) accounts, it is estimated that the number of individuals availing of mortgage interest relief (MIR) in the years 2012, 2013 and 2014 is as shown in the following table. Year Number of individuals availing (estimated) 2012 508,200 2013 492,700 2014* 495,000*This...