Results 13,341-13,360 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Application (17 Dec 2013)

Michael Noonan: I assume the Deputy’s question relates to the changes to the Standard Fund Threshold (SFT) regime announced in my 2014 Budget Statement and reflected in the Finance (No.2) Bill 2013. The primary purpose of the changes I am making to the SFT regime is to further restrict the capacity of higher earners to fund or accrue large pensions through tax-subsidised sources. The SFT regime...

Written Answers — Department of Finance: Income Data (17 Dec 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the latest relevant sector-based information available on income earners in the tax system is derived from income tax returns filed for the income tax year 2011 and represents about 95 per cent of all returns expected at the time the data was compiled for analytical purposes. The data relating to the public sector includes individuals in receipt...

Written Answers — Department of Finance: Consultancy Contracts Expenditure (17 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 168 and 170 together. The information requested by the Deputy could not be collated in the time available. My Department will respond directly to the Deputy by the end of this week.

Written Answers — Department of Finance: Departmental Legal Cases (17 Dec 2013)

Michael Noonan: The information requested by the Deputy could not be collated in the time available. My Department will respond directly to the Deputy by the end of this week.

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: I thank all of the Senators for their contributions. On Senator O'Brien's precise question about indexation of this new measure, I would be opposed to that because I want to keep control of the cost of tax credits in the hands of the Minister for Finance of the day. I do not want to index this because that would transfer the control of costs totally to the companies and they would just keep...

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: That is a fact.

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: That is not what is being quoted.

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: That is not what is being quoted.

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: The consumer price index shows the cost of medical insurance and it increased by 86% in the past four years. There seems to be no control of costs in private medical insurance and much of the time it is a transfer from the consumer, who pays the premium, to the company which transfers it on to settle the bills of consultants and private hospitals. By capping it at €1,000 per adult...

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: Yes, I never said that.

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: I never said it.

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: Senator Hayden should quote the full paragraph.

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: Yes, because I am being misquoted. Senator Hayden should quote the full paragraph.

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: If a couple are in the situation where sharing gives a better result for both of them, there is nothing in law to stop them from making an arrangement where they both benefit. Obviously whoever has the higher taxable income takes the credit and pays additional moneys to the person who does not. There is nothing to stop that happening and people can amicably make the arrangement. On the...

Seanad: Finance (No. 2) Bill 2013: Committee Stage (Resumed) and Remaining Stages (12 Dec 2013)

Michael Noonan: The purpose of Senator Kathryn Reilly's recommendation is to suspend the application of this measure until the Minister signs a commencement order and that the Minister would not be enabled to sign such a commencement order until a report examining the effects of the proposed arrangement was prepared and laid before the Dáil . If I were to accept that recommendation, the proposal would...

Seanad: Finance (No. 2) Bill 2013: Committee Stage (12 Dec 2013)

Michael Noonan: I understand the Senators propose that in circumstances where a primary claimant has no entitlement to the restructured tax credit because he or she has married or entered into a civil partnership or a cohabiting relationship, the secondary claimant would have full entitlement to the tax credit. It is intended that the restructured credit will be an activation measure and it is designed to...

Seanad: Finance (No. 2) Bill 2013: Committee Stage (12 Dec 2013)

Michael Noonan: I have nothing to add.

Seanad: Finance (No. 2) Bill 2013: Committee Stage (12 Dec 2013)

Michael Noonan: Senators, including Senator O'Brien, propose that rather than requiring a person making a claim for the single person child carer credit as a secondary claimant to demonstrate he or she is involved in the actual care of the child, adhering to the terms of a court order maintenance agreement would be sufficient. The intent of the legislation is to provide a support for those single persons...

Seanad: Finance (No. 2) Bill 2013: Committee Stage (12 Dec 2013)

Michael Noonan: It would be possible for a separated couple to make a financial arrangement which would have the same effect. To enshrine it in law would impose very big data problems on the Revenue Commissioners. If a couple was not amicably separated to make provision in law that one person's tax circumstances should be revealed would create a big difficulty.

Seanad: Finance (No. 2) Bill 2013: Committee Stage (12 Dec 2013)

Michael Noonan: I thank the Senators for continuing with this debate and the very good points that have been made. Senator Michael D'Arcy would like to know the costs. The Revenue Commissioners estimate that in 2013 the one-parent family tax credit will cost approximately €127 million. The Revenue Commissioners also estimate that the yield from replacing the one-parent family tax credit with the...