Results 1,921-1,940 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (16 Nov 2016)

Michael Noonan: It is assumed that this question concerns the eligibility of the person concerned for Favourite Nephew Relief.  Favourite Nephew Relief is provided for in the Capital Acquisitions Tax Consolidation Act 2003 (Schedule 2, Part 1, Paragraph 7).  This relief applies to a niece or nephew who has worked substantially on a full-time basis for the disponer for the period of five years...

Written Answers — Department of Finance: Insurance Costs (16 Nov 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks that they are willing to...

Written Answers — Department of Finance: State Claims Agency (16 Nov 2016)

Michael Noonan: As the Deputy will be aware, the NTMA is designated as the State Claims Agency (SCA) when performing the claims management and risk management functions designated to it under the National Treasury Management Agency Act 1990, as amended. In answer to the Deputy's question, I refer to the material provided by the SCA and which is outlined in the following table. The material provided by...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland Data (16 Nov 2016)

Michael Noonan: As the Deputy will be aware, the Government is committed to supporting the financing needs of SMEs in all regions of the country and ensuring that there is an adequate supply of affordable and appropriate credit to meet their needs. In this regard, the Strategic Banking Corporation of Ireland (SBCI) is a key initiative that was developed in order to increase the availability of low cost,...

Written Answers — Department of Finance: Banking Operations (16 Nov 2016)

Michael Noonan: As the Deputy will be aware, operational and strategic management issues in the Irish banks are solely a matter for the board and management of the relevant institution within the constraints imposed by their regulator, the Central Bank, and the law as it applies. Notwithstanding the fact that the State has a significant shareholding in a number of institutions, I have no function...

Written Answers — Department of Finance: National Debt (16 Nov 2016)

Michael Noonan: My Department and the National Treasury Management Agency (NTMA) are monitoring, on an ongoing basis, bond market developments. Government bond yields in general including for Ireland have risen in recent weeks and particularly so in recent days. It remains to be seen whether this is a temporary re-pricing or the beginning of a more sustained rise in yields generally. While the recent...

Written Answers — Department of Finance: Corporation Tax Regime (16 Nov 2016)

Michael Noonan: My department continually monitors potential international tax changes that may have an impact on Ireland.  No risk assessment has been carried out into the impact of potential changes to the US tax code. The impact of any US tax reform on Ireland will clearly depend on the exact nature of the reform.  Any reforms are likely to be complex and involve broader...

Written Answers — Department of Finance: Government Deficit (16 Nov 2016)

Michael Noonan: As we are now all too aware, given the bursting of the property bubble, the interplay between volatile house prices, tax revenues and the impact on sustainability of the public finance has been problematic for Ireland.   I am aware of the May 2015 analysis published by the ESRI 'Assessing the sustainable nature of housing-related taxation receipts: The case of Ireland'. This relies...

Written Answers — Department of Finance: Government Expenditure (15 Nov 2016)

Michael Noonan: In Budget 2017, total general government expenditure of €76.6 billion is forecast for next year. This is c.€0.2 billion more than the level that is forecast as being compliant with the expenditure benchmark. The calculation in Table A7 of the Budget book shows net fiscal space for 2017 of €-0.2 billion, indicating an excess over...

Written Answers — Department of Finance: Mortgage Arrears Proposals (15 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 172 and 173 together. In relation to Actions 1.19 and 1.20 of the Action Plan for Housing and Homelessness the Deputy will be aware that the Central Bank of Ireland's (The Central Bank) Code of Conduct on Mortgage Arrears (CCMA) provides a strong consumer protection framework to ensure that each borrower who is struggling to keep up mortgage...

Written Answers — Department of Finance: Living City Initiative (15 Nov 2016)

Michael Noonan: As the Deputy may be aware, the Living City Initiative was initially provided for in Finance Act 2013 and commenced on 5th May 2015. The Initiative was extended beyond the original planned pilot cities of Limerick and Waterford, to include the cities of Dublin, Cork, Galway and Kilkenny. In line with my Department's commitment to evidence based policy-making, the inclusion of...

Written Answers — Department of Finance: Pyrite Issues (15 Nov 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to...

Written Answers — Department of Finance: Property Tax Exemptions (15 Nov 2016)

Michael Noonan: I am advised by Revenue that there is no liability to Local Property Tax (LPT) where a property is derelict to such an extent that it is not suitable for occupation and is not actually occupied. In such circumstances there is no requirement on the property owner to file an LPT return. However it can happen that an LPT return issues because Revenue is not aware that the property in question...

Written Answers — Department of Finance: Tax Code (15 Nov 2016)

Michael Noonan: I am advised by Revenue that without knowing the full circumstances of the particular taxpayer it is not possible to comment specifically on the case raised by the Deputy. However I can provide the following general information with regard to the taxation of widowed persons in the year of bereavement, and in subsequent years. In regard to the tax year in which a spouse has died, the...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (15 Nov 2016)

Michael Noonan: To be eligible to apply for the Help to Buy incentive, a first-time buyer must have signed a contract to purchase a new build property on or after the 19th July 2016. In the case of a self-build home, they must have drawn down of the first tranche of the relevant mortgage on or after that date. The full conditions of the scheme and its commencement remain subject to the...

Written Answers — Department of Finance: Tax Code (15 Nov 2016)

Michael Noonan: I have put forward an amendment on the capital acquisitions tax relief known as the dwelling house exemption for the Committee Stage of Finance Bill 2016 which I expect will be discussed by the Committee on Finance, Public Expenditure and Reform, and Taoiseach on Tuesday 10 or Wednesday 16 of November. I consider that this particular relief has lost focus since its introduction because of...

Written Answers — Department of Finance: State Savings Schemes Data (15 Nov 2016)

Michael Noonan: As the Deputy will be aware, the National Treasury Management Agency (NTMA), a statutory body under the aegis of the Minister for Finance, has responsibility for the management of Ireland's range of Government savings products. I am informed by the NTMA that the overall level of investment in State Savings products, including in Post Office Savings bank deposits, has increased from just...

Written Answers — Department of Finance: Home Renovation Incentive Scheme Data (15 Nov 2016)

Michael Noonan: I am advised by Revenue that data relating to the Home Renovation Incentive (HRI) are available from the statistics section of the Revenue website at . Specifically, the most recently available information on the scheme is in the Tax Expenditures section of the page at which contains a county breakdown of properties registering works and the value of these works in 2013-14, in 2015 and over...

Written Answers — Department of Finance: Excise Duties Yield (15 Nov 2016)

Michael Noonan: I am advised by Revenue that a Post Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at. In relation to the Deputy's questions, this Ready Reckoner shows a wide range of detailed information, including Excise increases on fuel, alcohol and tobacco. While the Ready Reckoner does not show all of the specific costings requested by the Deputy, others can be estimated...

Written Answers — Department of Finance: Credit Unions (15 Nov 2016)

Michael Noonan: Section 21 of the Credit Union Act, 1997 provides for the nomination of property in a credit union.  The legislation specifies that a credit union member aged 16 or over, can nominate in writing a person or persons to become entitled to all or part of the member's property in the credit union at the time of the member's death, up to a prescribed limit. It also provides for...