Results 13,001-13,020 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Data (21 Jan 2014)

Michael Noonan: Retail credit firms are a regulated category of entities authorised to provide credit (in the form of cash loans) directly to individuals.  A register of all Retail Credit Firms is available on the Central Bank website at the following link:  . I am informed by the Central Bank that, at end September 2013, six of these firms had a total of 17,807 primary dwelling (PDH)...

Written Answers — Department of Finance: NAMA Operations (21 Jan 2014)

Michael Noonan: Under Section 226 of the NAMA Act, as soon as may be after 31 December 2013, and every 3 years after that while NAMA remains in existence, the Comptroller and Auditor General (C&AG) shall prepare and present a copy of a progress report on NAMA to the Minister for Finance.  I am advised by the C&AG that it has prepared an initial draft Section 226 report and I expect...

Written Answers — Department of Finance: Mortgage Schemes (21 Jan 2014)

Michael Noonan: The Deputy will appreciate that it is a matter for financial institutions to consider what products are made available. The Central Bank of Ireland does not approve products offered by regulated entities and does not collect data on product availability in other Member States. Regarding the issue of inter-generational mortgages, the Inter-Departmental Mortgage Arrears Working Group...

Written Answers — Department of Finance: Tax Code (21 Jan 2014)

Michael Noonan: I assume that the Deputy's question relates to the double deduction for carbon tax on farm diesel which I provided for in Finance Act 2012. Under this provision, farmers are allowed a deduction in computing their farming profits or losses for the amount of additional carbon tax they incur on purchases of Marked Gas Oil following the €5 per tonne increase in the rate of carbon tax on...

Written Answers — Department of Finance: Tax Code (21 Jan 2014)

Michael Noonan: For a payment to qualify as an allowable deduction, by either a sole trader or a company, the payment must be expended wholly and exclusively for the purposes of a trade or profession. It would appear the Deputy is proposing that, notwithstanding that expenditure met that test, a deduction would not be permitted unless an invoice carried either a VAT or a tax reference number. The Irish...

Written Answers — Department of Finance: Tax Collection (21 Jan 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the information requested, estimated by reference to the income tax years 2011 and 2012, is set out in tables. All Income earners for Income Tax Year 2011 Gross Income Range Gross Income Numbers Income Tax/USC/PRSI € € € 0 - 5,000 476,324,603 221,975 2,873,398 5,000 - 10,000 1,223,068,809 163,594 30,447,443 10,001 -...

Written Answers — Department of Finance: Property Taxation Assessments (21 Jan 2014)

Michael Noonan: The Deputy will be aware that the Revenue Commissioners are continuing to refine the Local Property Tax (LPT) Register and that work will continue for some time.  However I am advised that, based on the values declared by residential property owners in LPT Returns filed to date, there are approximately 3,600 properties valued at over €1m in the Register.

Written Answers — Department of Finance: Property Taxation Collection (21 Jan 2014)

Michael Noonan: The situation referred to by the Deputy would potentially arise where weekly Local Property Tax (LPT) deductions from a property owner's Department of Social Protection (DSP) payment would have the effect of reducing that individual's personal rate payment to below the weekly rate of supplementary welfare allowance which is currently €186 per week. This issue was well anticipated and...

Written Answers — Department of Finance: Consultancy Contracts Expenditure (21 Jan 2014)

Michael Noonan: The total amount paid to Oracle from my Departments' Vote in 2013 was €80,381.55. This is in respect of the usual annual support charges associated with software licenses and most of it is attributable to the Department's Financial Management System (JD Edwards, which is an Oracle product). There were no payments to Accenture in 2013.

Written Answers — Department of Finance: European Central Bank (21 Jan 2014)

Michael Noonan: I should state initially that Ireland has always honoured its debt obligations without any requirement that we be forced to do so, whether by the ECB or anyone else. I have not taken action under Article 35:1 and Article 340 of the ECB Statutes and initiated proceedings at the Court of Justice of the European Union seeking clarification of the legality of the ECBs actions in relation to...

Written Answers — Department of Finance: Tax Credits (21 Jan 2014)

Michael Noonan: As you are aware the One-Parent Family Tax Credit (OPFTC) has been replaced with a new Single Person Child Carer Tax Credit from 1 January 2014.   The restructured credit will be of the same value i.e. €1,650 per annum as the OPFTC and it will also carry the same entitlement to the additional €4,000 extended standard rate band, which increases it to €36,800 per...

Written Answers — Department of Finance: Companies Law Issues (21 Jan 2014)

Michael Noonan: As the issue in question does not relate to taxation, this is not a matter for the Revenue Commissioners.

Written Answers — Department of Finance: Tax Credits (21 Jan 2014)

Michael Noonan: As you are aware the One-Parent Family Tax Credit (OPFTC) has been replaced with a new Single Person Child Carer Tax Credit from 1 January 2014.   The restructured credit will be of the same value i.e. €1,650 per annum as the OPFTC and it will also carry the same entitlement to the additional €4,000 extended standard rate band, which increases it to €36,800 per...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Applications (21 Jan 2014)

Michael Noonan: As the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. This scheme came into operation on 25 October 2013 and will run until 31 December 2015. The incentive provides tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. The scheme...

Written Answers — Department of Finance: EU Budget Contribution (21 Jan 2014)

Michael Noonan: The final outturn for Ireland's contribution to the EU budget in 2013 totalled €1,726 million, some €271 million higher than was originally forecast for Budget 2013. Two externally driven developments, which were not known at the time of publication of Budget 2013, contributed to this bigger-than-expected contribution. Specifically, these...

Written Answers — Department of Finance: Banking Sector Issues (21 Jan 2014)

Michael Noonan: The potential involvement of a strategic or capital market based investor for Permanent TSB ("PTSB") will be considered at an appropriate time having regard to the best interests of the State. My officials and PTSB are in regular contact regarding matters such as capital structure and will consider all potential strategies in this regard.  In the meantime PTSB continues...

Written Answers — Department of Finance: EU Directives (21 Jan 2014)

Michael Noonan: In late December 2013 the Lithuanian Presidency of the EU Council reached agreement with the European Parliament on the Bank Recovery and Resolution Directive (BRRD). The BRRD proposal provides a common framework of rules and powers to help EU countries manage arrangements to deal with failing banks at national level as well as cross-border banks, whilst preserving essential bank operations...

Written Answers — Department of Finance: IBRC Bond Issues (21 Jan 2014)

Michael Noonan: I am advised that the Department of the Environment, Community and Local Government are currently working with the relevant local authorities to ascertain the actual level of exposure that exists in relation to the development bonds previously entered into by IBRC in favour of the various County Councils or local authorities.  I am advised that once that exposure...

Written Answers — Department of Finance: Tax Code (21 Jan 2014)

Michael Noonan: I am advised by the Revenue Commissioners that section 97(2) of the Taxes Consolidation Act 1997 specifies the expenses that a landlord is entitled to deduct from gross rent in computing rental profits for tax purposes. Section 97(2) is subdivided into paragraphs (a) to (e), each of which deals with different categories of deductible expenditure. As noted by the Deputy, section 97(2)(b)...

Written Answers — Department of Finance: Tax Credits (21 Jan 2014)

Michael Noonan: I propose to take Questions Nos. 217 and 220 together. It is unclear from the Deputy's questions as to the provenance of the comments and statements to which she refers. However, I will clarify the position as regards the new tax credit. The One-Parent Family Tax Credit (OPFTC) has been replaced with a new Single Person Child Carer Tax Credit from 1 January...