Results 14,181-14,200 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Rebates (7 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. The legislation states that a qualifying...

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

Michael Noonan: The Central Bank’s Code of Conduct on Mortgage Arrears (CCMA) provides that each bank must put in place a formal Mortgage Arrears Resolution Process to deal with its mortgage customers who are in arrears or pre-arrears and for the establishment of dedicated arrears support units and appeals processes to handle such cases. Section 55 of the CCMA provides that complaints relating to the...

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

Michael Noonan: I am advised by Revenue that Section 11 of the Finance (Local Property Tax) Act 2012 (as amended) provides that lessees who hold long-term leases of residential property spanning twenty years or more, are liable to pay Local Property Tax (LPT) in respect of that property. In the specific case mentioned by the Deputy, I am advised that the person concerned is not considered to be the liable...

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

Michael Noonan: I propose to take Questions Nos. 76, 87 and 89 to 96, inclusive, together. 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...

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

Michael Noonan: I am advised by Revenue that, in the case to which the Deputy refers, the deduction from wages was not in respect of the person’s primary residence which is exempt from Local Property Tax (LPT). The person in question was linked to a second property on the basis of records imported by Revenue from another Government agency database during the development of the Property Register. It...

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

Michael Noonan: I am advised by Revenue that Local Property Tax (LPT) refunds are not reimbursed in the form of amended income tax credits. Revenue has confirmed to me that LPT refunds are either made directly to the property owner or set against other outstanding tax liabilities, including LPT, if appropriate. Revenue has also confirmed that in the case of overpayments arising from the ‘deduction...

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

Michael Noonan: I propose to take Questions Nos. 79 and 82 together. It is difficult to be definitive about the number of individuals that may be affected by the changes to the Standard Fund Threshold (SFT) regime. Among other reasons, this is because the changes are likely to have both direct impacts and indirect behavioural impacts. The direct impacts will be on individuals whose pension savings or...

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

Michael Noonan: I am advised by Revenue that primary responsibility for providing valid bank account details in regard to any tax payment, including Local Property Tax (LPT), rests with the taxpayer. However, notwithstanding the above, Revenue has confirmed to me that when the banks in question confirm the timing of the service withdrawal, it will review all remaining debit instructions at that point,...

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

Michael Noonan: An upper ceiling on the amount of medical insurance premiums that will qualify for tax relief, of €1,000 per adult and €500 per child was introduced in the Budget. The yield from this measure is estimated at €94 million in 2014 and €127 million in a full year. The position is that income tax relief is generally provided on contributions to private health insurance...

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

Michael Noonan: I propose to take Questions Nos. 83 and 84 together. A breakdown of the cost of tax relief on employee contributions to occupational pension schemes is not available by either income tax rate or by reference to income levels, as tax returns by employers to the Revenue Commissioners of employee contributions to such schemes are aggregated at employer level. There is, therefore, no...

Written Answers — Department of Finance: Companies Law Issues (7 Nov 2013)

Michael Noonan: My colleague the Minister for Jobs, Enterprise and Innovation received Government approval on Tuesday 5 November to publish the Companies (Miscellaneous Provisions) Bill 2013. This Bill contains a proposed amendment to the Company Law Enforcement Act 2001 which is the legislation governing the ODCE. The relevant amendment addresses the sharing of information with the ODCE by the Revenue...

Written Answers — Department of Finance: Consumer Protection (7 Nov 2013)

Michael Noonan: I have no plans to introduce legislation to prohibit moneylenders from carrying on legitimate business. 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. ...

Finance (No. 2) Bill 2013: Second Stage (6 Nov 2013)

Michael Noonan: I move: "That the Bill be now read a Second Time." As I bring this Finance (No. 2) Bill 2013 to the Dáil it is perhaps appropriate to remind ourselves of some of the objectives of the recent budget. Looking first at the economic backdrop against which the budget was set, although we experienced a difficult first quarter, the Irish economy returned to growth in the second quarter and...

Written Answers — Department of Finance: Property Taxation Collection (6 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 35 to 38, inclusive, and 48 together. I note that similar questions concerning payment of the 2014 LPT liability have been raised by other Deputies and I provided a detailed response yesterday to Questions Nos. 143, 202, 214, 215, 216, 229, 232, 239 and 252 which addresses many of the issues raised by Deputies in these Questions. I re-iterate that there is...

Written Answers — Department of Finance: Tax Reliefs Availability (6 Nov 2013)

Michael Noonan: The Living City Initiative is a pilot scheme, designed to encourage people back to the centre of Irish cities to live in historic buildings and encourage the regeneration of the retail heartland of central business districts. The initial pilot will be a targeted scheme to enable an assessment to be made as to the effectiveness of the scheme. The Living City Initiative was announced as part...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (6 Nov 2013)

Michael Noonan: I have been informed by the Central Bank that while, in theory, the Central Bank is not restricted from investigating matters which date back several years, the tools available to the Central Bank to take action, including sanction, against a regulated entity on foot of any findings of such an investigation may be limited by a number of factors. The investigative powers available to the...

Written Answers — Department of Finance: Tax Credits (6 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 40, 41 and 43 to 47, inclusive, together. No, I do not consider this measure to be a breach of the Programme for Government. Let me be clear what is happening, from 1 January 2014, the One-Parent Family Tax Credit is being replaced with a new Single Person Child Carer Tax Credit. The new credit will be of the same value, i.e. €1,650, as the existing...

Written Answers — Department of Finance: Banking Sector Issues (6 Nov 2013)

Michael Noonan: As the deputy will be aware for contractual confidentiality reasons AIB is precluded from discussing or divulging details of individual customer accounts. However I am advised by the Bank that all customers are dealt with fairly and in line with AIB’s existing bank credit & lending policies. Where customers are experiencing financial difficulty I would encourage them to...

Written Answers — Department of Finance: Tax Yield (6 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the latest available information on the Domicile Levy is for the tax year 2011, which is that 17 persons have submitted Domicile Levy returns for that year. The amount of Domicile Levy paid in relation to those returns was €2,500,493. Returns for tax year 2012 are not due until 31 October 2013 (or 14 November 2013 for Revenue Online...

Written Answers — Department of Finance: Pensions Levy Issues (6 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 50 and 51 together. The Report on Pension Charges 2012 was undertaken by the Department of Social Protection, working with the Central Bank and the Pensions Board, and with support from PWC. The launch of the Report on Pension Charges report in October 2012 was followed by a three month consultation with stakeholders. Following the consultation, it was...