Results 16,481-16,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Property Taxation Exemptions (30 Apr 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how a residential property is to be valued for Local Property Tax (LPT) purposes. While there are no specific exemptions or financial concessions from LPT for householders in flood prone areas, the following information would be of relevance in these cases. As LPT is a self-assessed tax, it is a matter for the property owner to...

Written Answers — Department of Finance: Proposed Legislation (30 Apr 2013)

Michael Noonan: The Review of the Equity Investment Landscape in Ireland published by Forfás earlier this year considered the issue of crowd funding and the changes introduced by the Jumpstart Our Business Startups Act (JOBS) in the United States. The Review recognised that "many internationally orientated Irish companies preferred option is to raise capital overseas". These companies may be able to...

Written Answers — Department of Finance: Property Taxation Exemptions (30 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that there is no specific exemption from the Local Property Tax (LPT) for persons in receipt of mortgage interest supplement. For individuals on low incomes the Finance (Local Property Tax) Act 2012 (as amended) provides for a system of deferral arrangements for owner-occupiers where there is an inability to pay the tax and certain specified...

Topical Issue Debate: Mortgage Interest Rates (25 Apr 2013)

Michael Noonan: As I said in my initial reply neither the Department of Finance nor the Central Bank has any statutory power to direct lending institutions on the interest they charge on any particular mortgage. Debate, however, is always worthwhile and if there is to be a debate at the Joint Committee on Finance, Public Expenditure and Reform the appropriate invitations should be issued to the lending...

Topical Issue Debate: Primary School Enrolment Process (25 Apr 2013)

Michael Noonan: The Minister for Education and Skills, Deputy Ruairí Quinn, has asked me to reply on his behalf to Deputy Eoghan Murphy's query. He said that he spoke about the need for a fair and transparent enrolment process at the teacher union conferences that were held at Easter. I will quote from the Minister's speech in responding to the points raised by the Deputy:The Education Act of 1998 set...

Topical Issue Debate: Mortgage Interest Rates (25 Apr 2013)

Michael Noonan: While the Government is acutely aware of the increasing financial stress that some households are facing in the current environment, ultimately, the pricing of financial products, including standard variable mortgage interest rates, is a commercial matter for the management and the boards of the institutions concerned. As the Deputy will be aware, the relationship framework with the bank...

Written Answers — Department of Finance: Property Taxation Exemptions (25 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the exemption from Local Property Tax under section 8 of the Finance (Local Property Tax) Act 2012, for properties purchased between 1 January 2013 and 31 December 2013, which relates to first time buyers, would apply to an individual who built his or her own home during this period, provided the person meets the qualifying conditions, including...

Written Answers — Department of Finance: Tax Code (25 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 55 and 63 together. It is a general principle of taxation that, as far as possible, income from all sources should be subject to taxation. In line with this principle, the majority of social welfare payments are reckonable as income for tax purposes. These include long-term payments such as Disablement Benefit, the State Pension, Widows, Invalidity and...

Written Answers — Department of Finance: Departmental Staff Remuneration (25 Apr 2013)

Michael Noonan: The following table sets out the salary bands in respect of my Department. Earnings Band Number of employees 0-10K 26 10-20K 19 20-30K 72 30-40K 72 40-50K 40 50-60K 36 60-70K 3 70-80K 34 80-90K 33 90-100K 10 100-115K 9 125-150K 6 150K-200K 2 200K-250K 1 > 250K 0 The Revenue Commissioners have provided me with the following information in relation to...

Written Answers — Department of Finance: Vehicle Registration Tax (25 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that this vehicle was detained by a member of an Garda Síochána under the provisions of Section 140(3) Finance Act, 2001, as it was being driven by a State resident and there was reasonable suspicion that an offence had been committed. An authorised Officer of the Revenue Commissioners questioned the driver who admitted having possession of...

Written Answers — Department of Finance: Carbon Tax Implementation (25 Apr 2013)

Michael Noonan: The carbon tax has been in place for all fuels other than solid fuels since 2010. As I was aware of the potential impact on lower income households, I chose not to introduce the carbon tax on solid fuels until after this winter period and I opted to introduce the tax in two phases i.e. €10 per tonne of CO2 from 1 May 2013 and a further €10 per tonne of CO2 from 1 May 2014 thus...

Written Answers — Department of Finance: Data Protection (25 Apr 2013)

Michael Noonan: As I stated in my previous reply to the Deputy on this matter I am aware of the issue raised. It has been under discussion between my officials, Revenue and the ODCE who are cooperating to implement an appropriate solution. Apart from direct contact between staff of the ODCE and my Department, the matter has also been noted in the 2011 Annual Report of the ODCE (page 15), available on their...

Written Answers — Department of Finance: Property Taxation Exemptions (25 Apr 2013)

Michael Noonan: As I advised in response to Parliamentary Question No. 85 on 17 April, Section 10A of the Finance (Local Property Tax) Act 2012 (as amended) provides for a temporary exemption of at least three consecutive years from the charge to Local Property Tax (LPT) for residential properties that have been certified as having "significant pyritic damage". The methodology for the assessment of...

Written Answers — Department of Finance: Property Taxation Collection (25 Apr 2013)

Michael Noonan: For property owners for whom e-filing is not practical, I am informed by the Revenue Commissioners that the legislation provides that another person may file on their behalf, and they can visit their local Revenue office where computers and assistance to e-file will be available. In addition, Revenue has made arrangements for property owners to pay and file by telephone via the LPT helpline...

Written Answers — Department of Finance: IBRC Liquidation (25 Apr 2013)

Michael Noonan: I am advised that the Special Liquidators are not in a position to provide this information at present but that they are in the process of establishing the level of bonds/guarantees and indemnities entered into by IBRC (prior to liquidation) in favour of County Councils. I have been further advised that it is likely that any liabilities arising under those bonds, guarantees and indemnities...

Written Answers — Department of Finance: Bank Charges (25 Apr 2013)

Michael Noonan: I, as Minister for Finance, have no statutory role in relation to the issues raised by the Deputy. I have been advised by the Central Bank that the information requested by the Deputy is not readily available. The Bank also informed me that they received this specific question from the Deputy at the Joint Oireachtas Committee on Finance, Public Expenditure and Reform hearing on Wednesday 10...

Written Answers — Department of Finance: Tax Collection Forecast (25 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield to the Exchequer, estimated in terms of expected 2013 gains, from increasing the CGT tax rate from 33% to 35% could be in the region of €31 million. This figure includes corporate gains. However, this estimate assumes no behavioural changes on the part of taxpayers, and increases in rates may have a significant...

Written Answers — Department of Finance: Universal Social Charge Yield (25 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield, estimated by reference to 2013 incomes, from extending the additional universal social charge of 3%, which is currently applicable to self-employed income in excess of €100,000, to all income earners at this level of income would be of the order of €71 million. The Universal Social Charge is an individualised...

Written Answers — Department of Finance: Tax Collection Forecast (25 Apr 2013)

Michael Noonan: It is assumed that the threshold for the proposed new tax rate mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. On that basis, I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2013 incomes, of the introduction of...

Written Answers — Department of Finance: Tax Collection Forecast (25 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated yield to the Exchequer from increasing the Deposit Interest Retention Tax (DIRT) rate from 33% to 35% would be of the order of €40 million in a full year. This projection assumes no significant behavioural change by depositors or a change in interest rates applied by financial institutions to savings.