Results 13,981-14,000 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Availability (19 Nov 2013)

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

Written Answers — Department of Finance: Financial Services Regulation (19 Nov 2013)

Michael Noonan: To improve regulatory supervision and protect the Irish consumer, the Central Bank has, along with increased staffing levels, introduced a risk-based supervision framework, PRISM (Probability Risk and Impact SysteM). The framework establishes a new approach for supervisory engagement with regulated firms. As part of the framework the Central Bank of Ireland engages with firms at a level that...

Written Answers — Department of Finance: Credit Unions (19 Nov 2013)

Michael Noonan: I have no concerns in relation to the transfer of Newbridge Credit Union to Permanent TSB. Although Permanent TSB was recapitalised in 2011, it is compliant with its regulatory capital requirements and as of June 2013 it had a Core Tier 1 capital ratio of 15.7%. This compares to a Central Bank of Ireland minimum requirement of 10.5%. As I have previously stated, it was in the context of a...

Written Answers — Department of Finance: Financial Services Regulation (19 Nov 2013)

Michael Noonan: Moneylenders are governed by a number of legislative obligations and supervisory requirements. Moneylenders are required to hold a licence in accordance with the provisions of the Consumer Credit Act 1995 as amended. This licence is issued by the Central Bank and must be renewed annually. Section 93(10)(g) of the Act states that the Bank may refuse to grant a licence where, in its opinion,...

Written Answers — Department of Finance: Pension Provisions (19 Nov 2013)

Michael Noonan: I am advised that no Exchequer support was used to fund the pension entitlements of the individual referred to. I am further advised that Pension Schemes that were available to staff at the Anglo Irish Bank included defined benefit schemes (which closed to new membership in 1994) and a defined contribution scheme. These schemes are funded schemes, and are operated by appointed trustees. The...

Written Answers — Department of Finance: Property Taxation Assessments (19 Nov 2013)

Michael Noonan: The administration of the Local Property Tax is a matter for the Revenue Commissioners. My Department does not hold any records on individual tax payers. I am advised by Revenue that a key aspect of the work it has 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...

Written Answers — Department of Finance: Property Taxation Data (19 Nov 2013)

Michael Noonan: I am advised by Revenue that payments of Local Property Tax (LPT) are acknowledged in all circumstances where a person pays via the online service at www.revenue.ie. On the specific case mentioned by the Deputy I can confirm that payment for the 2013 LPT liability was received on the 29 May 2013 via the online service and is receipted on the person’s account under the appropriate...

Written Answers — Department of Finance: EU-IMF Programme of Support Negotiations (19 Nov 2013)

Michael Noonan: As the Deputy will be aware, the Government decided on 14 November that Ireland is now in the best position to exit the EU-IMF programme of financial assistance on December 15 without the need to pre-arrange a new precautionary credit line from our EU and IMF partners. Following a careful and thorough assessment of all of the available options, and broad consultation with the European...

Written Answers — Department of Finance: NewERA Remit (19 Nov 2013)

Michael Noonan: The core role of NewERA involves the ongoing oversight of the financial performance, corporate strategy, capital and investment plans of the five commercial semi-state companies within its remit - ESB, Bord Gáis Éireann (BGE), EirGrid, Bord na Móna and Coillte. NewERA works closely with the relevant Government Departments and the companies, with NewERA analysing the financial...

Written Answers — Department of Finance: Tax Reliefs Eligibility (19 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. There is no VAT relief under this scheme. I...

Written Answers — Department of Finance: Foreign Direct Investment (19 Nov 2013)

Michael Noonan: The National Treasury Management Agency (NTMA) offers a suite of investment products – long-term bonds, short-term paper, State Savings including the National Solidarity Bond, inflation-linked bonds – which are designed to appeal to as wide a spectrum of investors as possible. The funding raised by those investment products is used to fund Government expenditure. In relation to...

Written Answers — Department of Finance: Credit Unions (19 Nov 2013)

Michael Noonan: The Central Bank has secured a High Court order to transfer the assets and liabilities of Newbridge Credit Union to Permanent TSB; Newbridge Credit Union has not been wound-up. In serving the High Court order, the Central Bank had to make a case to the Court that winding up was not in the public interest. The resolution report (available at www.centralbank.ie) sets out the detailed Central...

Written Answers — Department of Finance: Banking Sector Issues (19 Nov 2013)

Michael Noonan: I can confirm that the information requested in Parliamentary Questions Numbers 97, 100 and 101 of 12 November 2013 was forwarded to the Deputy on 15 November 2013. With regard to the data requested in respect of the National Treasury Management Agency (NTMA), it has not been possible for the Agency to collate the information requested in the time available. I will write to the Deputy...

Written Answers — Department of Finance: Tax Reliefs Availability (19 Nov 2013)

Michael Noonan: There are a number of tax provisions already in the Taxes Consolidation Act 1997 (TCA) that provide reliefs and incentives to preserve and renovate built heritage. Significant Buildings and Gardens Section 482 of the TCA provides for tax relief for expenditure incurred on the repair, maintenance or restoration of approved buildings or gardens. For a building or garden to be approved it must...

Written Answers — Department of Finance: Pyrite Remediation Programme Issues (19 Nov 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) provides for a number of specific exemptions from the charge to Local Property Tax (LPT), as well as the possibility of deferring the charge in certain cases of hardship. Exemptions from or deferral of the Local Property Tax only apply in the circumstances provided for in the legislation. Accordingly, whilst those who have been...

Written Answers — Department of Finance: Tax Code (19 Nov 2013)

Michael Noonan: Under the regulations known as the “Two-Pack” which were formally adopted on 30th May 2013, a common budgetary timeline is being introduced for all Euro Area member states. Specifically: - the draft budget for central government and the main parameters of the draft budgets for all the other sub-sectors of the general government must be published by the 15th of October each...

Written Answers — Department of Finance: Tax Code (19 Nov 2013)

Michael Noonan: The measure to which the Deputy is referring was announced by me in the Budget in December 2011 and provided for in the Finance Act 2012. This was complemented, at that time, by the introduction of an additional 5% USC charge in the form of a property relief surcharge on the use of property reliefs by certain higher earning individuals. The broad intention of these two measures was to reduce...

Written Answers — Department of Finance: Drugs Smuggling (19 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that they attach a very high priority to combating the smuggling of controlled drugs and are committed to playing an active role, in conjunction with other relevant agencies, in working against this criminal activity and those responsible for it. Revenue has primary responsibility for the detection, interception and seizure of controlled drugs at...

Written Answers — Department of Finance: Unfinished Housing Developments (19 Nov 2013)

Michael Noonan: I am aware of the problems facing local authorities and in particular in relation to unfinished housing estates as a result of developers not complying with the terms of their planning permissions. Both the Special Liquidators and officials from my Department have recently met with the Department of Environment, Community and Local Government, Local Authorities and the Housing Agency in...

Written Answers — Department of Finance: Property Taxation Administration (19 Nov 2013)

Michael Noonan: Part 10 of the Finance (Local Property Tax) Act 2012 (as amended) provides for payment of the Local Property Tax (LPT) by deduction at source from salary or occupational pension or from certain payments made by the Departments of Social Protection and Agriculture, Food and the Marine. I am informed by the Revenue Commissioners that where this payment method is chosen, the following...