Results 11,601-11,620 of 27,019 for speaker:Michael Noonan

Central Bank Bill 2014: Report and Final Stages (8 May 2014)

Michael Noonan: I do not have anything to add to my previous contribution. I have set out the position from my perspective. At the level of principle, we are ad idem. I will bring forward the legislation as a matter of priority and it will have retrospective impact to cover loan books already sold.

Ombudsman for Children (Amendment) Bill 2014: First Stage (8 May 2014)

Michael Noonan: No.

Central Bank Bill: Order for Report Stage (8 May 2014)

Michael Noonan: I move: "That Report Stage be taken now."

Written Answers — Department of Finance: Tax Credits (8 May 2014)

Michael Noonan: As you are aware the One-Parent Family Tax Credit has been replaced with a new Single Person Child Carer Credit from 1 January 2014.   However, the credit is more targeted in that it is, in the first instance, only available to the principal carer of the child. Given the difficult fiscal environment, it is essential to review all tax reliefs, credits and incentives in order to...

Written Answers — Department of Finance: Vehicle Registration Issues (8 May 2014)

Michael Noonan: I refer the Deputy to my answer of 30 April 2014 to Parliamentary Questions Nos. 19710/14 and 19711/14. As I said in that answer, the temporary exemption from the payment of Vehicle Registration Tax (VRT) is provided for under section 135 of the Finance Act 1992, as amended. Subject to certain conditions, restrictions and limitations, a qualifying vehicle, i.e. a vehicle which is...

Written Answers — Department of Finance: Banking Operations (8 May 2014)

Michael Noonan: I am informed by the Central Bank that this issue arose because 1 May 2014 was a normal business day in Ireland but the euro settlement and payment systems (TARGET2 and STEP 2) were closed due to the fact that 1 May is a bank holiday in most EU member states. While this situation has occurred in previous years, the Irish banks were able to process payments between themselves as the domestic...

Written Answers — Department of Finance: Insurance Industry (8 May 2014)

Michael Noonan: I propose to take Questions Nos. 47 and 48 together. Under EU law which governs non-life insurance, an insurer is required to inform the regulator in its home Member State (its home regulator) that it intends to pursue business in another Member State. The home regulator must then provide the host regulator with a certificate attesting that the insurer covers the EU Solvency Capital...

Written Answers — Department of Finance: Pension Provisions (8 May 2014)

Michael Noonan: I am informed by the Revenue Commissioners that in relation to what are known as "Trivial Pensions" they allow the payment of once off pensions in certain limited circumstances. If the scheme beneficiary and trustees agree, Revenue will raise no objection to the payment of once off pensions. This may only take place where the total of all funds available for pension benefits, following...

Written Answers — Department of Finance: Pensions Legislation (8 May 2014)

Michael Noonan: My understanding is that, as announced in their recent Budget, from April 2015 the UK Government intend to allow individuals aged 55 and over access their defined contribution (DC) pension fund on retirement as they choose, after taking the allowable tax free retirement lump sum from the fund. Withdrawals from the remainder of the fund will be taxed at the individual's marginal income tax...

Written Answers — Department of Finance: Tax Code (8 May 2014)

Michael Noonan: I assume the Deputy is referring to construction sub-contractors who are subject to reverse-charge VAT, whereby the principal contractor remits the VAT related to their output to the Revenue Commissioners.  This is not a new measure, having been introduced in 2008.  In any event, I am advised by the Revenue Commissioners that such sub-contractors, who have no output VAT liability,...

Written Answers — Department of Finance: Property Taxation Administration (8 May 2014)

Michael Noonan: I am advised by Revenue that it received the Household Charge (HHC) Register from the Local Government Management Agency (LGMA) and this data, along with various other Government and non-Government data sources, was used to develop the Local Property Tax (LPT) Register. Revenue has also confirmed that as a result of a comprehensive data matching exercise across both registers, it has matched...

Written Answers — Department of Finance: Tax Code (8 May 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the following tax issues are relevant to the circumstances you mention. Capital Gains Tax The transfer of land by a person to his or her child constitutes a disposal of an asset for capital gains tax purposes. The first €1,270 of chargeable gains in any tax year is exempt from capital gains tax. Where the gains exceed that amount,...

Written Answers — Department of Finance: Tax Forms (8 May 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that the person concerned and her spouse are jointly assessed for income tax purposes.  A PAYE Balancing Statement (P21) for 2012 and also a refund of tax over paid will issue shortly to the person concerned. Revenue has written to her requesting Form P.60 for 2013 and on receipt of a reply a P21 for 2013 will be issued.

Written Answers — Department of Finance: Household Charge Exemptions (8 May 2014)

Michael Noonan: I am advised by Revenue that the introduction of Local Property Tax (LPT) required it to build a Property Register of all residential properties in the State. As part of the building process, Revenue received the Household Charge (HHC) Register from the Local Government Management Agency (LGMA) and cross-referenced both registers to identify a database of properties where the HHC is still...

Written Answers — Department of Finance: Financial Services Regulation (7 May 2014)

Michael Noonan: I take very seriously the Judge's comments regarding the role of certain individuals at the Irish Financial Services Regulatory Authority in the so-called Maple 10 case. As I stated in response to Question No. 13 of 8 April 2014, the system of financial regulation has been radically overhauled since the financial crisis. Furthermore, the Governor of the Central...

Written Answers — Department of Finance: Property Taxation Collection (7 May 2014)

Michael Noonan: The legislation governing the administration of Local Property Tax (LPT) provides for a number of exemptions from LPT, one of which is relevant to those who purchased a residential property during 2013. This relates to the exemption under section 8 of the Finance (Local Property Tax) Act 2012 (as amended), which is the exemption to which the Deputy refers. It was originally intended that this...

Written Answers — Department of Finance: IBRC Loans (7 May 2014)

Michael Noonan: I propose to take Questions Nos. 33 and 34 together. I am advised by the Special Liquidators that they are not in a position to comment on individual cases and that the information requested is confidential and it would not be appropriate for the Special Liquidators to release such information.  I understand that a number of the loans concerned were transferred to NAMA by...

Written Answers — Department of Finance: Carbon Tax Implementation (7 May 2014)

Michael Noonan: Although Carbon Tax was introduced in Budget 2010 for fossil fuels, its application to solid fuels was delayed to allow for the development of a robust mechanism to counter the large scale sourcing of coal from Northern Ireland where lower sulphur standards apply. The Department of the Environment undertook to provide such a robust mechanism in conjunction with the National...

Written Answers — Department of Finance: Universal Social Charge Application (7 May 2014)

Michael Noonan: In the case of an individual who is aged 70 years or over and whose total income is €60,000 or less, universal social charge (USC) is charged at the rate of 2% on the first €10,036 and 4% on the balance of the income. USC is charged on the total income of each individual and the income of a couple is not aggregated for the purposes of USC and the thresholds at which it is...

Written Answers — Department of Finance: Tax Clearance Certificates (7 May 2014)

Michael Noonan: I am advised by the Revenue Commissioners that no demands have issued to the taxpayer since this matter was previously raised in October 2013. The tax record has been amended appropriately however, as outlined in the previous response, the balance will remain on record and the taxpayer should contact the Collector General's in the event of a material change in circumstances influencing his...