Results 9,341-9,360 of 27,019 for speaker:Michael Noonan

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: The Revenue Commissioners have informed my officials at the Department of Finance that they will regard a 40-hour week as the maximum normal working week but they will recognise as normal working weeks that are shorter than 40 hours. They will not go above 40 hours. They have also notified us that as soon as these measures pass, they will put out a note, almost the equivalent of a statement...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: Amendment No. 67 requests a report on the options on the introduction of a 3% betting duty for both on-line and in-shop bets. There have been a number of calls for an increase in the rate of duty applying to betting. However, I have always maintained that my preferred approach has been to first put a regulatory regime in place for the sector and to extend the base on which the 1% rate...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: Our original estimate was €7 million but that is a shot in the dark. With the response we are getting, we now think it will probably be somewhat less than that, maybe a good bit less. We will provide for it. In the overall scheme of things it is not a huge consideration. Our consideration is to get as much land as possible back to being farmed commercially, if possible by the next...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: We have also changed the definition of off-farm income in the Bill. Income derived from an activity that is totally separate from farming would not apply, but activity that runs from farming, something like grain drying, with which the Chairman would be familiar, would possibly be eligible, or the production of the kind of things we see at farmers' markets. They would all be within the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: Forestry would qualify, I think, but there are other benefits for forestry. I will get back to the Chairman with a more detailed note on that. I will need clarification. There is an income tax issue.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I have a note here for the Deputy. Revenue will publish a note for guidance on the practical operation of the provisions. This note will specify, among other things, that Revenue will accept the normal working time including on-farm and off-farm working time, approximating to 40 hours per week. This will enable farmers with off-farm employment to qualify for the relief, provided they spend...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: No. Before Deputy Ó Cuív joined us, I explained that there were three other separate tests under which one would qualify, so that first test could be ignored completely. The Revenue Commissioners have also accepted that a normal working week is around 40 hours. They would not regard 50 hours as a normal working week. They would regard that as abnormal or----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: The Deputy would have to get a certificate, I think. He works so hard he would never qualify for half the week on the farm.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I would have to send him back to agricultural college.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: Approximately 20 hours or so, yes.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: It is any one of the normal qualifications that farmers have always used for transfer of land, stamp duty, exemptions and so on. There is a list of the colleges and I understand there are online courses as well. This second test is the qualified farmer's test, and the only test of that is a qualification. One does not have to have a specific number of hours on the farm to be eligible under...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I thank the Deputies for raising this issue. This section does not refer specifically to active farmers. My amendment No. 83 deals with the concerns expressed by many Deputies, including those present, and by the farming organisations. The farming organisations and the Department of Agriculture, Food and the Marine have agreed that the terms of this amendment will meet their concerns. ...

Leaders' Questions (19 Nov 2014)

Michael Noonan: Your members.

Written Answers — Department of Finance: Mortgage Interest Rates (19 Nov 2014)

Michael Noonan: Firstly, I must confirm to the Deputy that the lending institutions in Ireland, including those in which the State has a shareholding, are independent commercial entities. I have no statutory role in relation to regulated financial institutions passing on the European Central Bank interest rate change or in relation to the mortgage interest rates charged.  It is...

Written Answers — Department of Finance: Tax Reliefs Eligibility (19 Nov 2014)

Michael Noonan: Section 21 of the Finance Act 2013 introduced a change to the scheme for tax relief for investment in films whereby a producer company can claim a corporation tax credit for eligible expenditure rather than the current scheme which allows relief at the marginal rate of tax for individual investors. It also introduced a new definition of 'producer company' (Section 21(1)(i))  which...

Written Answers — Department of Finance: Tax Collection (19 Nov 2014)

Michael Noonan: I am advised by Revenue that it is already dealing with the various ongoing issues to which the Deputy refers. Revenue has also confirmed to me that the persons in question can make direct contact with Mr Declan O'Dalaigh of the Collector-General's office to discuss the issues. Mr O'Dalaigh can be contacted at telephone number 061 488062 or email address odalaigh@revenue.ie. Alternatively,...

Written Answers — Department of Finance: Universal Social Charge Exemptions (19 Nov 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that, based on the information available, the person concerned is exempt from the universal social charge (USC). USC is currently being deducted from the named individual's pension.  An amended tax credit certificate will issue to the person concerned shortly. The pension provider will also receive an amended tax credit certificate...

Written Answers — Department of Finance: Tax Yield (19 Nov 2014)

Michael Noonan: I propose to take Questions Nos. 52 to 54, inclusive, 56 and 57 together. In relation to the first question, I am informed by the Revenue Commissioners that because Section 82 of the Capital Acquisitions Tax Consolidation Act 2003 is an exemption provision, there is no requirement to include the amount of payments in respect of which exemption is taken in a return to the Revenue...

Written Answers — Department of Finance: Tax Code (19 Nov 2014)

Michael Noonan: The position is that where a couple is cohabiting, rather than married or in a civil partnership, they are treated as separate and unconnected individuals for the purposes of income tax.  Each partner is a separate entity for tax purposes and, therefore, cohabiting couples cannot file joint assessment tax returns or share their tax credits and tax bands in the same manner as married...

Written Answers — Department of Finance: Ministerial Transport (19 Nov 2014)

Michael Noonan: The information requested by the Deputy is outlined in the table. These ministerial transport costs do not include air travel or foreign travel. For 2010 the ministerial transport and the costs associated with this were provided for by the Department of Justice. Department of Finance 2010 2011 2012 2013 Ministerial Transport Costs €0 €87,289.91 €116,297.76...