Results 15,121-15,140 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Availability (11 Jul 2013)

Michael Noonan: I assume the Deputy is referring to mortgage interest relief. On that basis, the position is that mortgage interest relief is not available in respect of interest paid on loans taken out on or after 1 January 2013, except in two specific circumstances which are set out below: 1. Interest paid on a loan taken out in 2013 to construct a home on a site, but only where such site was bought by...

Written Answers — Department of Finance: Tax Collection (11 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 80 to 88, inclusive, together. Profits or gains arising to an owner or part owner of a stallion from the sale of services of mares within the State by a stallion or from the sale of rights to such services have been taxable since 1 August 2008. Previously, these profits were exempt from income and corporation tax. Figures for the profits earned from the...

Written Answers — Department of Finance: Deposit Protection Scheme (10 Jul 2013)

Michael Noonan: The Deposit Guarantee Scheme covers deposits by individuals in participating credit institutions. All deposit-taking credit institutions in Ireland are required by law to participate in the Deposit Guarantee Scheme. The scheme currently covers all 395 credit unions in Ireland and 37 banks and building societies. Further information can be found on the Central Bank of Ireland's website at ....

Written Answers — Department of Finance: Tax Forms (10 Jul 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that a form P45 was received by them on 13 August 2012. If the person concerned has not yet received a copy of the P45 this should be requested from the former employer. As the person concerned ceased employment in August 2012, a form P60 would not be issued by the employer for 2012. The relevant form is the form P45. PAYE Balancing...

Written Answers — Department of Finance: Banking Sector Investigations (10 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 70 and 71 together. Neither I nor my Department have any role in the on-going Garda or other regulatory investigations into Anglo Irish Bank or any other Irish Bank. It would be completely inappropriate for the Department of Finance to act outside of its legal powers and interfere with any investigation that could compromise potential future criminal or...

Written Answers — Department of Finance: IBRC Liquidation (10 Jul 2013)

Michael Noonan: The Special Liquidators have confirmed that there is on average a total of 192 people from KPMG working on IBRC (in Special Liquidation) part time and full time.

Written Answers — Department of Finance: Public Interest Director Responsibilities (10 Jul 2013)

Michael Noonan: The person named was a director but not a public interest director at Anglo Irish Bank. There were two public interest directors appointed to the board of Anglo Irish Bank in December 2008. However after nationalisation there were no further specific public interest directors on the board of IBRC. Mr Alan Dukes had been appointed as a public interest director in Dec 2008 and was made...

Written Answers — Department of Finance: Tax Exemptions (10 Jul 2013)

Michael Noonan: As I informed the Deputy in my reply to question no. 178 on 2 July 2013, this is a matter for the Revenue Commissioners. Self Help Africa has a charitable tax exemption and recently sought approval to amend its Memorandum and Articles of Association. The required approval was granted by Revenue on 16 May. The Revenue Commissioners made direct contact with the charity on foot of the...

Written Answers — Department of Finance: Pension Provisions (10 Jul 2013)

Michael Noonan: I am advised that there are a small number of pension funds that may not be entitled to compensation under the deposit guarantee scheme, DGS, or the eligible liabilities guarantee scheme, ELG, due to the nature of the products or deposit options in which those account holders invested. It is important to note that at the time the products were offered to customers there was no additional...

Written Answers — Department of Finance: IBRC Liquidation (10 Jul 2013)

Michael Noonan: As I have previously outlined, certain tracker bonds sold to credit unions which were liabilities of IBRC at the time of the liquidation have a structured deposit element which is covered by the Deposit Guarantee Scheme (DGS) for that element of the product. As a result the first €100,000 of any claim from these depositors is covered under the DGS. The products purchased by some credit...

Written Answers — Department of Finance: IBRC Liquidation (10 Jul 2013)

Michael Noonan: I have been advised by the Special Liquidators that the residential mortgage customers of IBRC (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. The Special Liquidators are currently engaged in the valuation of IBRC loans and it is expected that they will begin the loan sales process...

Written Answers — Department of Finance: Universal Social Charge Yield (10 Jul 2013)

Michael Noonan: The most recently published fiscal forecast was contained in the SPU in April with estimated USC receipts in 2013 of €3,970m. If there was no change in USC rates, the estimate for 2014, consistent with the SPU, is c. €4,110m. It should be pointed out that these figures may be comprehensively revised in the context of the White Paper and Budget 2014 as emerging fiscal and...

Written Answers — Department of Finance: Universal Social Charge Yield (10 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 79 to 81, inclusive, together. I am informed by the Revenue Commissioners that while the necessary detailed basic data is not compiled in such a manner as would enable an income distribution of expected receipts to be provided, a modelled distribution of the estimated amount of USC due for the tax year 2013 by reference to projected incomes for 2013 has been...

Written Answers — Department of Finance: Tax Yield (10 Jul 2013)

Michael Noonan: The most recently published fiscal forecast was contained in the SPU in April with estimated PAYE receipts in 2013 of €9,630m. If there is no change in PAYE rates or allowances, the estimate for 2014, consistent with the SPU, is c. €10,225m. It should be pointed out that these figures may be comprehensively revised in the context of the White Paper and Budget 2014 as emerging...

Written Answers — Department of Finance: Tax Yield (10 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 83 to 85, inclusive, together. I am informed by the Revenue Commissioners that while the necessary detailed basic data is not compiled in such a manner as would enable an income distribution of expected receipts to be provided, a modelled distribution of the estimated amount of PAYE due for the tax year 2013 by reference to projected incomes for 2013 has been...

Written Answers — Department of Finance: Tax Collection (10 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 86 to 89, inclusive, together. I am advised by the Revenue Commissioners that the total identifiable costs to the Exchequer which are currently available relate to income tax and corporation tax allowances, reliefs, exemptions and tax credits and are shown in Table IT6 on the Revenue Statistical Report for 2011 which is accessible on the Revenue website at...

Written Answers — Department of Finance: Tax Yield (10 Jul 2013)

Michael Noonan: The most recently published fiscal forecast was contained in the SPU in April. The CGT estimate underpinning the 2013 forecast was c. €360m. If there is no change in the CGT rate or criteria, the estimate for 2014, as per the SPU, is c.€370m. It should be pointed out that these figures may be comprehensively revised in the context of the White Paper and Budget 2014 as...

Written Answers — Department of Finance: Tax Reliefs Availability (10 Jul 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the main reliefs/exemptions that can be claimed in respect of Capital Gains Tax are as follows: Appropriation to and from stock in trade (section 596 TCA 1997) Rollover relief (section 597 TCA 1997) [now only available in limited circumstances] Retirement relief (sections 598/599 TCA 1997) Relief on dissolution of farming partnerships...

Written Answers — Department of Finance: Tax Yield (10 Jul 2013)

Michael Noonan: The most recently published fiscal forecast was contained in the SPU in April. The Capital Acquisitions Tax (CAT) duty estimate underpinning the 2013 forecast was c. €375m. If there is no change in the CAT rate, the estimate for 2014, as per the SPU, is c.€370m. The reason for the decline is the non-recurrence of once offs which are scheduled to accrue in 2013. It should be...

Written Answers — Department of Finance: Tax Reliefs Availability (10 Jul 2013)

Michael Noonan: Given the various exemptions and reliefs from Capital Acquisitions Tax and the scale of the information on them being sought by the Deputy it is not possible to answer the question in the time available. I will contact the Deputy directly with a reply.