Results 13,481-13,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Administration (5 Dec 2013)

Michael Noonan: I am advised by Revenue that owners of more than one property are obliged to meet their Local Property Tax (LPT) filing and payment obligations via Revenue’s online system. Revenue has also advised me that all multiple property owners were issued with a single LPT 1 Return for 2013 in respect of all properties linked to them. Access to the various linked properties...

Written Answers — Department of Finance: Mortgage Interest Relief Eligibility (5 Dec 2013)

Michael Noonan: The Statutory position in relation to mortgage interest relief entitlement is that individuals can avail of the relief in respect of qualifying interest paid in a tax year, as provided for in Section 244 of the Taxes Consolidation Act 1997. Since the introduction of Tax Relief at Source (TRS) in respect of mortgage interest payments in 2002, ‘interest charged’ and...

Written Answers — Department of Finance: NAMA Operations (5 Dec 2013)

Michael Noonan: In the event that NAMA ultimately acquires this portfolio, the NAMA Board will determine its strategy at that stage and, in doing so, will be mindful of its legal obligations and of general market norms. I am advised that NAMA is likely to apply best practice in this regard and will seek to ensure that a borrower’s legal position does not deteriorate by virtue of NAMA acquisition of...

Written Answers — Department of Finance: Cycle to Work Scheme Numbers (5 Dec 2013)

Michael Noonan: The cycle to work scheme came into operation on 1 January 2009. With a view to keeping the scheme simple and reducing administration on the part of employers, there is no notification procedure for employers involved. Accordingly, the Revenue Commissioners do not have statistics on the uptake of the scheme. The scheme operates on a self-administration basis, and relief is automatically...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (5 Dec 2013)

Michael Noonan: I have been advised that the Special Liquidators propose to not provide this information as they consider it to be commercially sensitive financial information which could potentially have a detrimental impact on asset recovery from the impending sale process. Comprehensive disclosures on the residential mortgage book of IBRC (in Special Liquidation) were contained in the Interim Report for...

Written Answers — Department of Finance: Banks Recapitalisation (5 Dec 2013)

Michael Noonan: Following my announcement yesterday of the successful sale of the Bank of Ireland Preference shares, please see below the table setting out the up to date net position. Net Notional Cash Position of the State from Investment in and support provided to BOI. €m Notes 2008 2009 2010 2011 2012 2013 Total Cash paid by State Preference Shares (a) -3,500 -3,500 Ordinary...

Written Answers — Department of Finance: NAMA Portfolio (5 Dec 2013)

Michael Noonan: The details sought by the Deputy are set out below. The Deputy will be aware that it is a matter for each local authority to determine, by reference to the relevant housing and planning policy, demand for the properties made available by NAMA for social housing. NAMA has no role in this process but where demand is confirmed and the contract for purchase or lease is entered into, NAMA makes...

Written Answers — Department of Finance: Banks Recapitalisation (5 Dec 2013)

Michael Noonan: At its peak, the State had invested just over €4.7 billion in Bank of Ireland with €1 billion of this investment held by the Minister directly (the Contingent Capital Notes or “Coco’s”) and the remainder held by the Directed Portfolio of the National Pension Reserve Fund. The State has since sold the Coco’s for €1.056 billion recording a...

Written Answers — Department of Finance: Banks Recapitalisation (5 Dec 2013)

Michael Noonan: I propose to take Questions Nos. 80 and 81 together. Following the announcements by both AIB and Bank of Ireland this week that they require no further capital following the completion of the asset quality review there has been a neutral market reaction. As of lunchtime on 4 December 2013 the Bank of Ireland share price is little different from where it was trading last week and the pricing...

Written Answers — Department of Finance: Economic Policy (5 Dec 2013)

Michael Noonan: I presume the Deputy is referring to the Medium-Term Economic Strategy (MTES), which is due to be published this month. The formulation of the MTES is being jointly led by my Department, in conjunction with the Department of Public Expenditure and Reform, but the Strategy is a whole-of-Government initiative. Consequently, its production is not being coordinated by any one individual, but...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (5 Dec 2013)

Michael Noonan: The Special Liquidators are in the process of conducting a sales process in respect of the IBRC residential mortgage portfolio. As previously advised the continued applicability of the Central Bank Code of Conduct on Mortgage Arrears and Mortgage Arrears Targets Programme will depend on the regulatory status of the ultimate acquirer of the portfolio which we will not know until the sales...

Written Answers — Department of Finance: Carbon Budget (4 Dec 2013)

Michael Noonan: Solid fuel carbon tax will be charged on all solid fuels supplied in the State, regardless of whether the fuel products are Irish made or imported. Solid fuel is defined under section 77 of the Finance Act 2010, as amended and means coal or peat. Coal is further defined to include coal and lignite, solid fuel manufactured from coal and lignite, and any other energy product within the...

Written Answers — Department of Finance: Tax Exemptions (4 Dec 2013)

Michael Noonan: In the recent Budget I announced the Start Your Own Business initiative, which provides an exemption from Income Tax for individuals who have been unemployed for a period of 12 months and who start a new, un-incorporated business between 25 October 2013 and 31 December 2016. I can confirm that one-parent family payment is a qualifying payment for the purposes of the initiative.

Written Answers — Department of Finance: Banking Sector Staff Issues (4 Dec 2013)

Michael Noonan: As the Deputy will be aware under the Relationship Framework the State does not intervene in the day to day operations of the bank or their management decisions regarding commercial decisions. I have been informed that AIB has previously indicated that as part of its restructuring plan to reduce costs and increase efficiencies, outsourcing of certain functions would be considered in...

Written Answers — Department of Finance: Tax Exemptions (4 Dec 2013)

Michael Noonan: The Government acknowledges the continuing cost pressures on parents, particularly those with young children. In recognition of these cost pressures, a number of support measures are in place to ease the burden on working parents. These include the Community Childcare Subvention (CCS) programme, which funds community childcare services to enable them to charge reduced childcare fees to...

Written Answers — Department of Finance: Tax Exemptions (4 Dec 2013)

Michael Noonan: Firstly, I would point out that persons aged 65 and over can avail of the age tax credits or the age exemption limits. For the years of assessment 2013 and 2014, in order to qualify for the income tax exemption a single individual’s income must be less than €18,000 or in the case of a married couple or civil partners, €36,000. These exemption limits are increased by...

Written Answers — Department of Finance: Public Procurement Contracts (4 Dec 2013)

Michael Noonan: In March 2010, the Government delegated to the NTMA certain banking system functions of the Minister for Finance related to the oversight and management of the State’s interest and holdings in those financial institutions covered by the 2008 Government guarantee. Following this the NTMA established a specialist Banking Unit and a small number of skilled professionals were recruited...

Written Answers — Department of Finance: Departmental Contracts Data (4 Dec 2013)

Michael Noonan: I have been advised by the institutions in question that in line with normal practice and for commercial reasons, the institutions do not publicly disclose the details of contracts with individual external service providers. Neither institution is required to undertake public procurement as part of the process of appointing advisors. In the case of the individual institutions auditors fees...

Written Answers — Department of Finance: Property Taxation Administration (4 Dec 2013)

Michael Noonan: I am advised by Revenue that it recently wrote to property owners who paid their 2013 Local Property Tax (LPT) by lump sum or regular cash payments through an approved payment service provider to request that they confirm their payment method for 2014. This confirmation is necessary to ensure Revenue has adequate time to set up any alternative phased payment mandates that property owners...

Written Answers — Department of Finance: Tax Compliance (4 Dec 2013)

Michael Noonan: I am informed by the Revenue Commissioners that they are prevented from making any comments in relation to specific cases on the grounds of taxpayer confidentiality. Section 851A of the Taxes Consolidation Act 1997 (inserted by the Finance Act 2011) placed on a formal statutory basis the long-standing and accepted obligation on the Revenue Commissioners to treat all taxpayer information...