Results 14,161-14,180 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Assessments (12 Nov 2013)

Michael Noonan: I am advised by Revenue that the development of the Local Property Tax (LPT) Register required it to extract and consolidate data from multiple sources including various Government and non-Government agencies. The process involved consolidating data for approximately two million records, some of which were difficult to match because of variations in addresses and names held by different...

Written Answers — Department of Finance: VAT Rate Reductions (12 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the supply of dog grooming services is liable to VAT at the standard rate, currently 23%. Paragraph 21(3) of Schedule 3 to the Value-Added Tax Consolidated Act 2010 provides that the supply of services “of a kind supplied in the course of their profession by veterinary surgeons” is liable at the 13.5% reduced VAT rate. If...

Written Answers — Department of Finance: Tax Code (12 Nov 2013)

Michael Noonan: The Inter-departmental group, chaired by Dr Don Thornhill, to consider the design of a property tax (the “Thornhill Group”) recommended that the Local Property Tax (LPT) paid in respect of a rented property should be deductible for income tax or corporation tax purposes, in a similar manner to commercial rates. The Government accepted the recommendation of the Thornhill Group...

Written Answers — Department of Finance: Property Taxation Collection (12 Nov 2013)

Michael Noonan: I am advised by Revenue that Section 26 of the Finance (Local Property Tax) Act 2012 (as amended) provides that if a liable person has overpaid Local Property Tax (LPT) through a genuine error or mistake, then s/he is entitled to a repayment. In such circumstances the liable person should write to LPT Branch, PO Box 1, Ennis, Co Clare, clearly setting out how the overpayment arose. The...

Written Answers — Department of Finance: Tax Credits (12 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that there has been no delay in this case. I am advised that the taxpayer in question commenced employment on 17th June 2013 and they were notified of this by the employer on 24th June 2013. A Form 12A was issued to the person on 3rd July 2013 for completion to enable the issue of a Tax Credit Certificate and resolve the application of the emergency...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (12 Nov 2013)

Michael Noonan: The Special Liquidators have confirmed that the residential mortgage customers of IBRC Limited (in Special Liquidation) continue to enjoy the protection of the Central Bank Code of Conduct on mortgage arrears and other protections in Irish consumer law. I am advised that the contractual terms and conditions of customer mortgages and other borrowings will not change as a result of the...

Written Answers — Department of Finance: Tax Reliefs Availability (12 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....

Written Answers — Department of Finance: Tax Reliefs Eligibility (12 Nov 2013)

Michael Noonan: Firstly, I should point out that it is the standard practice for the Minister for Finance to review all tax expenditures and reliefs in the run up to the annual Budget. As the Deputy may be aware, the cost of Income Tax relief in respect of medical insurance has increased significantly in recent years (estimated at €404 million in 2011, €448 million in 2012 and €500...

Written Answers — Department of Finance: International Agreements (12 Nov 2013)

Michael Noonan: The question of Ireland’s signature and ratification of the Antarctic Treaty and related agreements has been examined in some detail by the relevant Departments and Offices concerned. The Department of Finance has not been involved in this process and has not carried out any cost benefit analysis to assess the impact of Ireland’s signing of the Treaty.

Written Answers — Department of Finance: Mortgage Arrears Rate (12 Nov 2013)

Michael Noonan: The Central Bank commenced the quarterly publication of mortgage and mortgage arrears data from the period ending September 2009. The most recent available data, which is for the quarter ending June 2013, indicates that 12.7% of PDH mortgages and 20.4% of BTL mortgages were in arrears of more than 90 days. The full range of published mortgage arrears data is available on the Central...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (12 Nov 2013)

Michael Noonan: The Central Bank’s Code of Conduct on Mortgage Arrears (CCMA) is a statutory Code issued under Section 117 of the Central Bank Act 1989 and lenders are required to comply with the CCMA as a matter of law. The Deputy will be aware that the Central Bank’s revised CCMA came into effect from 1 July 2013. This followed an extensive consultation process where over 200 submissions...

Written Answers — Department of Finance: Property Taxation Assessments (7 Nov 2013)

Michael Noonan: I am advised by Revenue that, where liable persons overpay their Local Property Tax (LPT) through an error or mistake in valuing their property, they should write to LPT Branch, Government Buildings, Ennis, Co Clare clearly setting out how the overpayment arose. They should also include relevant documentation in support of their revised valuation such as, for example, a copy of a...

Written Answers — Department of Finance: Credit Availability (7 Nov 2013)

Michael Noonan: Facilitating access to finance for SMEs is a key aspect of the Action Plan for Jobs 2013. It is the Government’s vision that all viable businesses operating in Ireland should have the opportunity to access sufficient finance to meet their enterprise needs in a manner that supports growth and employment in the economy. The Government has imposed SME lending targets on AIB and Bank of...

Written Answers — Department of Finance: Property Taxation Assessments (7 Nov 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered and how a residential property is to be valued for Local Property Tax (LPT) purposes. As I informed the House, most recently in my reply to Question [47040/13] on 5 November 2013, Local Property Tax (LPT) is a self-assessed tax so it is a matter for the property owner to calculate the tax due...

Written Answers — Department of Finance: Property Taxation Administration (7 Nov 2013)

Michael Noonan: I am informed by Revenue that the difficulty in relation to the Local Property Tax (LPT) payment preference in this case arose in the first instance due to the person in question selecting two different payment options. When filing her LPT Return on 15 May 2013, the person selected both “deduction at source” from her Department of Agriculture, Food and the Marine pension and...

Written Answers — Department of Finance: Property Taxation Administration (7 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that LPT provides for a range of payment options and property owners can choose the one that best suits their particular circumstances. I am advised that no matter how the LPT charge for 2013 was paid, property owners can choose any of the available options to pay their 2014 liability and can decide whether to pay the tax in full or to spread...

Written Answers — Department of Finance: Mortgage Arrears Rate (7 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 67 to 69, inclusive, together. My Department has requested the six main banks operating in Ireland, and who fall within the Central Bank Mortgage Arrears Resolution Targets(MART) process, to provide data on the restructuring situation in relation to all primary dwelling mortgages, both in arrears and not in arrears, on a monthly basis. This process is...

Written Answers — Department of Finance: Fuel Rebate Scheme (7 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the suggestion that huge savings could be made by moving from the current system of marking rebated fuels to one based on making repayments to those users that currently use rebated fuels is based on the erroneous view that adding the prescribed markers to rebated fuel is exceptionally costly and is borne by the exchequer. This is not the case;...

Written Answers — Department of Finance: Tax Reliefs Abolition (7 Nov 2013)

Michael Noonan: As the Deputy is aware, the One-Parent Family Tax Credit (OPFTC) is being replaced with a new Single Person Child Carer Tax Credit from 1 January 2014. The Single Person Child Carer Tax Credit will be of the same value, i.e. €1,650, as the existing OPFTC and will also carry the same entitlement to the extended standard rate tax band of €36,800 per annum. The new credit will be...

Written Answers — Department of Finance: Pensions Levy Issues (7 Nov 2013)

Michael Noonan: I announced in my recent Budget speech that the 0.6% Pension Fund Levy introduced to fund the Jobs Initiative in 2011 will be abolished from the 31st of December 2014. I will however, introduce an additional levy on pension funds at 0.15%. I am doing this to continue to help fund the Jobs Initiative, including the continuation of the reduced 9% VAT rate detailed below and to make provision...