Results 13,821-13,840 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Economic Policy (26 Nov 2013)

Michael Noonan: The Government approved the drafting of a Medium Term Economic Strategy (MTES) on 11th June 2013 and consultation on this Strategy has been ongoing with Departments, Agencies, and Representative Bodies. The MTES is a whole-of-Government endeavour and the Department of Finance and the Department of Public Expenditure and Reform were given joint responsibility to prepare the strategy in close...

Written Answers — Department of Finance: Credit Unions Liabilities (26 Nov 2013)

Michael Noonan: I have been informed by the Central Bank that under section 33AK of the Central Bank Act 1942, they cannot comment on matters in relation to an individual credit union. I note from the website of St. Raphael’s Garda Credit Union that its Annual General Meeting is scheduled for 17 December at which the financial position of the credit union would be expected to be presented to members.

Written Answers — Department of Finance: Tax Credits (26 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that information on the relationship between carers and the children in their care is not generally required in claims made for the one parent family tax credit. Accordingly, there is no basis on which a breakdown of the numbers of carers by reference to their relationship with children in their care could be compiled. The position is that section...

Written Answers — Department of Finance: Departmental Expenditure (26 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 185 to 191, inclusive, together. I propose to take all of the above parliamentary questions together since they all pose the same question but regarding seven different companies. The detail requested by the Deputy is set out in the table. Company name Year Amount Paid Nature of work Was contract subject to tender? Number of contracts A Cox 2008-2013...

Written Answers — Department of Finance: Property Ownership (26 Nov 2013)

Michael Noonan: Ordinarily a transfer of a house from one person to another would be a disposal by the person making the transfer for capital gains tax purposes. Stamp duty would also ordinarily be payable by the person to whom the property is transferred. Depending on the circumstances, it could also be a gift subject to capital acquisitions tax to the person to whom the property is transferred. Again,...

Written Answers — Department of Finance: Mortgage Interest Relief Eligibility (26 Nov 2013)

Michael Noonan: The position is, as I stated on many occasions in this House, in order to qualify for tax relief in respect of mortgage interest, a loan must have been drawn down and used in the purchase, repair or development of a principal private residence on or before 31 December 2012. This decision was announced in Budget 2011 and introduced in Finance Act 2012. In regard to the specific case...

Written Answers — Department of Finance: NAMA Expenditure (26 Nov 2013)

Michael Noonan: Set out below, in tabular form, is a breakdown of professional fees paid to the identified firms for each of the years, 2010, 2011 and 2012 for valuation, audit, legal and other services provided to NAMA in the context of its management of loans with an original par value of €74bn. Supplier 2010 2011 2012 Deloitte & Touche 2,053,267 2,706,714 1,630,170 Ernst &...

Written Answers — Department of Finance: Tax Credits (26 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the one parent family tax credit was withdrawn from the person in question on receipt of specific information provided to the Revenue District by the taxpayer and his partner. The entitlement of individuals to the range of tax credits are set out on www.revenue.ie. The Revenue Commissioners have in place a range of measures to ensure that...

Written Answers — Department of Finance: EU-IMF Programme of Support (26 Nov 2013)

Michael Noonan: Based on the current lending maturities of Ireland’s EFSM loans, the NTMA has calculated that Ireland will have repaid 75% of peak EU (EFSF & EFSM) and bilateral loans combined by the third quarter of 2032. This timeframe does not take into account the effect of the maturity extension of the EFSM loans, which will not be known until the existing loans mature. It is therefore,...

Written Answers — Department of Finance: Property Taxation Assessments (26 Nov 2013)

Michael Noonan: I am informed by Revenue that a key aspect of the work undertaken in connection with the administration of Local Property Tax (LPT) has been the development of a register of residential properties in the State. The development of the Property Register required Revenue to extract and consolidate data from multiple Government and non-Government sources. During this process duplicate records...

Written Answers — Department of Finance: Property Taxation Data (26 Nov 2013)

Michael Noonan: The Deputy will be aware that a key aspect of the work undertaken by Revenue was the development of a comprehensive Register of residential properties in the State. The Register was developed using data drawn from a range of sources including Revenue’s own databases, the Local Government Management Agency (LGMA) database and data from utility companies. I am advised by Revenue that...

Written Answers — Department of Finance: Tax Reliefs Eligibility (26 Nov 2013)

Michael Noonan: As the Deputy is aware, I announced the Home Renovation Incentive in the recent Budget. This scheme will run from 25 October 2013 to 31 December 2015 and provides for 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. I can confirm that landscaping works will be...

Written Answers — Department of Finance: Tax Reliefs Abolition (26 Nov 2013)

Michael Noonan: As the Deputy will be aware, virtually all of the area-based and property tax incentive schemes have now ended. Finance Act 2012 provides that Investors in accelerated capital allowance schemes will no longer be able to use any capital allowances beyond the tax life of the particular scheme where that tax life ends after 1 January 2015. Where the tax life of a scheme has ended before 1...

Written Answers — Department of Finance: Money Laundering (21 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 29 and 40 together. Officials of my Department are continuing to explore with the National Treasury Management Agency (NTMA) whether or not exemptions available under the Third Money Laundering Directive (2005/60/EC) and its Implementing Directive (2006/70/EC) may be applied to small value purchases of prize bonds facilitated on behalf of the State by An...

Written Answers — Department of Finance: Tax Collection (21 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that they are unable to comment in relation to any specific cases for reasons 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 confidentially. The...

Written Answers — Department of Finance: Tax Compliance (21 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 31 to 35, inclusive, and 58 together. I am taking it that the questions relate to the seizure of goods in the context of the collection of tax debts. While the Deputy may not be referring to the right of appeal in relation to tax liabilities, which is a separate matter, in summary these provisions afford taxpayers the opportunity to ensure that they have...

Written Answers — Department of Finance: Credit Unions (21 Nov 2013)

Michael Noonan: Under the Credit Union Act 1997 credit unions are required to set aside provisions to deal with expected losses. An amount of €830.9 million in total provisions for bad debts was reported in the quarterly prudential returns to the Central Bank as at 30 September 2013. This amount compares with arrears in the sector of €816.1 million as reported on the same date. While these are...

Written Answers — Department of Finance: Tax Reliefs Availability (21 Nov 2013)

Michael Noonan: I have considered this matter carefully and I have decided at this time, not to extend the parameters of the scheme to include self-referral for physiotherapy. General practitioners act as an access and control point for the scheme of tax relief on health expenses, as all such expenses must be incurred on the advice or referral of a general practitioner. If physiotherapy was allowed without...

Written Answers — Department of Finance: Credit Unions (21 Nov 2013)

Michael Noonan: I have been informed by the Central Bank that Newbridge Credit Union Limited’s total members’ shares and deposits were €163.4 million as at 30 September 2010, as extracted from its audited financial statements for the financial year ended 30 September 2010. It is not currently possible to disclose Newbridge Credit Union Limited’s total members’ shares as at...

Written Answers — Department of Finance: Unemployment Levels (21 Nov 2013)

Michael Noonan: In Budget 2014, an average unemployment rate of 13.5 per cent was forecast by my Department for 2013. For 2014, a further decline in the unemployment rate is expected, with an average rate of 12.4 per cent forecast. After a number of very difficult years, a recovery in the labour market is now clearly taking hold. During this year live register data show a continually falling unemployment...