Results 12,141-12,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Exemptions (1 Apr 2014)

Michael Noonan: While there is no specific exemption from Local Property Tax (LPT) for a person with a disability, in certain limited circumstances an exemption may apply. Section 10B of the Finance (Local Property Tax) Act 2012 (as amended) provides that an exemption from the charge to LPT may apply to a residential property purchased, built or adapted to make it suitable for occupation by a permanently...

Written Answers — Department of Finance: Property Taxation Administration (1 Apr 2014)

Michael Noonan: The Government decided that a liability to the Local Property Tax (LPT) should apply to all owners of residential properties with a limited number of reliefs. Any given yield could only be maintained by increasing the rate charged were the number of reliefs to be extended. I have no plans to introduce a credit system for the provision of particular services such as water or sewerage....

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (1 Apr 2014)

Michael Noonan: As the Deputy is aware, following a ruling by the European Court of Justice in April 2013 and subsequent negotiations with the European Commission, the excise relief on fuel element of the Disabled Drivers and Disabled Passengers scheme will be discontinued from 31 December 2014. However, as I have previously stated, arrangements will be made during the year to provide for a new fuel...

Written Answers — Department of Finance: Central Bank of Ireland (1 Apr 2014)

Michael Noonan: I have been informed by the Central Bank that it continually reviews its operations to ensure services are delivered in an efficient and cost effective manner consistent with the needs of the organisation. The Central Bank has used external third party service providers for many years and will continue to do so where it feels that it is necessary and justified.   In the area of...

Written Answers — Department of Finance: Central Bank of Ireland IT Operations (1 Apr 2014)

Michael Noonan: I have been informed by the Central Bank that it is in the process of replacing its HR IT system. The current systems are out of date and are being replaced with two newer systems in the course of 2014. It is expected that one system will remain based in Ireland while the other  will use a "cloud based" service operated and resident within the EU. The Central Bank has...

Written Answers — Department of Finance: Central Bank of Ireland (1 Apr 2014)

Michael Noonan: I propose to take Questions Nos. 161 to 164, inclusive, together. The responsibility for operational and security policies at the Central Bank is a matter for the Central Bank Commission and the Governor of the Central Bank. Section 33AK of the Central Bank Act 1942 (as amended) sets out the disclosure of information obligations of those employed or engaged by the Central Bank. I...

Written Answers — Department of Finance: Tax Exemptions (1 Apr 2014)

Michael Noonan: I assume the question relates to whether capital gains tax retirement relief would apply to land which has been rented for 5 years under an informal letting arrangement rather than under a formal lease. In Budget 2014, I announced an extension of the capital gains tax retirement relief which was subsequently implemented in the Finance (No. 2) Act 2013. That Act amended section 598 of the...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (1 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the number of persons who availed of tax refunds for fuel, under Regulation 16 of the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994, for the past three years is as follows: Year Tax Refunds 2011 11,246 2012 11,617 2013 11,436

Written Answers — Department of Finance: Tax Reliefs Eligibility (1 Apr 2014)

Michael Noonan: The various Taxes Acts provide for the granting of credits, reliefs, allowances and deductions for tax purposes. A standard approach used is to provide for a relief in primary law and set out the terms and conditions in secondary legislation. It should be noted that the question is very wide reaching and the research needed to ensure that all of the tax benefits referred to in the question...

Written Answers — Department of Finance: Additional Voluntary Contributions (1 Apr 2014)

Michael Noonan: Section 782A of the Taxes Consolidation Act 1997 provides members of occupational pension schemes with a once-off opportunity to access their Additional Voluntary Contributions (AVCs), pre-retirement. The option is available for a three year period from 27 March 2013, the date that the Finance Act 2013 was passed into law.   There are a number of reasons why, under existing policies,...

Written Answers — Department of Finance: NAMA Portfolio (1 Apr 2014)

Michael Noonan: This matter was comprehensively addressed in my responses to the Deputy's recent Parliamentary Questions (PQ), including in response to PQs 209 - 213 and 257 which were answered on 25th March 2014, and by my colleague Minister Bruton in the Oireachtas on Tuesday 11th March 2014. NAMA is subject to similar legal requirements as other lenders that preclude it from...

Written Answers — Department of Finance: Pension Provisions (1 Apr 2014)

Michael Noonan: I am informed by the Revenue Commissioners that it is not possible to give a reply to the actual case based on the information supplied by the Deputy, but if the Deputy wishes to write to Revenue with further details a comprehensive response will be provided.   However on the general point of eligibility the Revenue Commissioners have advised me that to transfer an Approved Minimum...

Written Answers — Department of Finance: Tax Reliefs Availability (1 Apr 2014)

Michael Noonan: Section 473A of the Taxes Consolidation Act 1997 provides for tax relief at the standard rate of income tax (20%), subject to certain minimum thresholds, in respect of qualifying fees paid by an individual for a third-level education course, including a postgraduate course. Qualifying fees mean tuition fees in respect of an approved course at an approved college and includes what is...

Written Answers — Department of Finance: Property Taxation Deferrals (1 Apr 2014)

Michael Noonan: I am informed by Revenue that Part 12 of the Finance (Local Property Tax) Act 2012 (as amended) provides for a system of either full or partial deferral arrangements where there is an inability to pay Local Property Tax (LPT).  However, the deferral has to be claimed.   From the information available to Revenue, it appears that the person in question is entitled to a full...

Written Answers — Department of Finance: Tax Exemptions (1 Apr 2014)

Michael Noonan: I assume the Deputy is referring to single farm payment entitlements. A single farm payment entitlement is a chargeable asset for capital gains tax (CGT) purposes and once acquired it may be disposed of by way of sale, gift etc. Accordingly, gains arising from the disposal of single farm payment entitlements are chargeable to CGT in the same way as gains made on any other chargeable assets....

Written Answers — Department of Finance: Tax Rebates (1 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the person in question visited the Revenue Office in Kilkenny on 18th March 2014 and submitted a form  P60 for the 2013 tax year. The person's liability for 2013 has now been reviewed and an overpayment of USC in the sum of €48.66 arises. A PAYE Balancing Statement, Form P 21 and repayment will issue to the person...

Written Answers — Department of Finance: VAT Exemptions (1 Apr 2014)

Michael Noonan: Certain persons engaged in water rescue can apply for a VAT refund on the purchase of vessels and ancillary related equipment for the purposes of search and rescue at sea, inshore or on inland waterways. A similar provision is not available for persons providing mountain rescue services. VAT law is governed by the EU VAT Directive, with which Irish VAT law must comply.  The EU VAT...

Written Answers — Department of Finance: VAT Rate Reductions (1 Apr 2014)

Michael Noonan: The VAT treatment of goods and services is governed by EU law with which Irish VAT law must comply. While the EU VAT Directive provides that a reduced VAT rate may be applied in certain circumstances and on certain goods and services, this does not apply in the case of telecommunication services.  The VAT Directive provides that the supply of telecom services must apply at the standard...

Written Answers — Department of Finance: Insurance Levy (1 Apr 2014)

Michael Noonan: The levy to which the Deputy refers is the Insurance Compensation Fund (ICF) levy of 2% being applied to home, motor and commercial insurance.  The levy operates under the Insurance Act 1964 and came into effect from 1 January 2012, following the appointment of administrators to Quinn Insurance Ltd (QIL) by the High Court. The total amount raised is as follows: Year Total...

Written Answers — Department of Finance: Banking Sector (1 Apr 2014)

Michael Noonan: As the Deputy is aware, KBC bank has recently availed of the customer mobility measures included in the Bank of Ireland Restructuring Plan as agreed with the European Commission. This is the first, and to date the single, instance of an institution availing of these measures. The Deputy will appreciate that the purpose of these measures is to enhance...