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Noonan, Michael

Tuesday, 18 December 2012

Dáil Éireann Debate
Vol. Nbr.


Finance (Local Property Tax) Bill 2012: Committee Stage

I raise a point of order. I think I should have read the financial resolution before the debate began.More Button

Finance (Local Property Tax) Bill 2012: Committee Stage (Continued)

Me too.More Button

The first half hour has been wasted by the Opposition on total bombast.More Button

The Thornhill report.More Button

Finance (Local Property Tax) Bill 2012: Committee Stage (Resumed) and Remaining Stages

I thank all the Deputies who contributed. Once it settled down, there were some very interesting interventions and comments. I will not be able to reply to everything because if I do, I will take...More Button

The initial criticism is that we are guillotining the Bill and it is being put through without adequate debate. Very often, budgetary measures are put through on that basis. From time immemorial,...More Button

If Deputies do not want to hear me, I will sit down and they can ramble on like they did for the past hour and a half. If they want me to reply, I will reply so which is it?More Button

The Revenue Commissioners, who have been charged with collecting this tax, have informed me that if we legislate in the Finance Bill, it will be too late for them to make the arrangements they requ...More Button

The second point is in reply to Deputy Donnelly who asked about amendments. I obviously cannot do it tonight but I am noting any interesting points made and we will come back and amend in the co...More Button

The main drive tonight is on the Title of the Bill. There were very strong objections to the fact that it is called the local property tax. I presume we all agree it is a tax so there are only ...More Button

Finance (Local Property Tax) Bill 2012: Committee Stage (Resumed) and Remaining Stages (Continued)

When I introduced excise increases I did so on tobacco and alcohol but not on hydrocarbons and it was still described as an excise tax. One does not have to do everything that is subject to a part...More Button

It is a tax which will be used by local authorities.More Button

In the first year 65% of it will be transferred to local authorities, because obviously administrative measures must be put in place, and this percentage will increase. Over the space of a couple ...More Button

I am not putting taxes on work.More Button

The money is coming from everybody who is the owner of the property-----More Button

----but the problem previously was people such as Deputy Higgins refused to pay, but this time he will pay because it will be taken from him if he does not.More Button

This is the difference.More Button

We will have a situation where everybody will pay on this occasion and there will not be guys like Deputy Higgins. He is always giving out about the bondholders. He is another bondholder in a sma...More Button

What kind of example is that to the public of Ireland?More Button

It is an absolutely ridiculous position.More Button

I do not have the time to go into it tonight but everybody knows that property is a fixed asset. If one taxes property it is more dependable. It is not a transaction tax. It is good for the tax ...More Button

It is a fair tax and all those people who do not contribute on this occasion will contribute to a smaller amount. Everybody talks about fairness.More Button

I will tell you what my concept of fairness is. A different concept of fairness is being propagated by certain sections of the House which is that there is a small discrete group of extraordinaril...More Button

We are all in the same profession, and Deputy Mattie McGrath knows what is regarded as extremely unfair in housing estates is where the local authority comes in and buys a house and puts in a perso...More Button

The Deputies are propagating an argument that everybody should not pay. Go to a big corporation estate in any city. Are the Deputies telling me that people who have been on tenant purchase and ha...More Button

Everybody should pay. At the end of the day everybody should make a small contribution. This is fairness.More Button

Deputies Higgins and Boyd Barrett in different ways tried to rally people to some revolutionary cause. I heard Deputy Boyd Barrett last week getting very impassioned. He was calling people to the...More Button

The only problem with this call to revolution is I do not think they will get a big crowd of revolutionaries rallying behind the banner of opposing property taxes. This was never a great slogan fo...More Button

The Deputies have put themselves in an absolutely ridiculous position.More Button

I am all for raising debate. What is wrong with many people here tonight is they are disappointed the Government's programme is working.More Button

They are building political careers on failure and the misery of the people and hoping the difficulties will continue. They got a shock today because as well as the internationally trading economy...More Button

We are developing a strong society once more-----More Button

-----and we are keeping people at work.More Button

More than 1.8 million people are still at work and I refuse to increase income tax on them because if one taxes work one will get less of it.More Button

The commitments we made in the programme for Government-----More Button

-----were not to increase rates, reduce credits or increase the bands and a separate commitment was made not to increase the marginal rate of tax.More Button

We did not do so in the previous budget and we did not do so in this one. It is working because we are not taxing work and more people are going back to work.More Button

I have not heard one coherent argument tonight with one exception; Deputy Donnelly is always right. I heard no idea tonight worth anything to me as Minister for Finance.More Button

I heard nothing I could pick up and implement from anybody tonight-----More Button

-----only the same old cant and trying to build a career on the misery of the people and failure. Why do the Deputies not come in and propose something constructive?More Button

There was a big argument about the audacity of the Minister for Finance to ask the Revenue Commissioners to collect taxes.More Button

This was dreadful. What do the Deputies think the Revenue Commissioners are for?More Button

Why does Deputy McGrath think we have the Revenue Commissioners?More Button

The Revenue is there to collect taxes. That is its job.More Button

They are being given the job now to collect this tax-----More Button

-----but there is also a commitment that it will be transferred back to the local authorities, and that is what will happen.

  Deputy Bannon, in a good speech, one of the better ...More Button

-----spoke about having an easy payments system. In the Bill, there is an easy payments system.More Button

Owners, depending on the way they are paid, can pay by deduction at source. If they are paid weekly, fortnightly or monthly, whatever way they are paid, they can have deductions made accordingly.More Button

They can pay by direct debit. There are a number of ways of paying during the year.

  It should be borne in mind that a total bill of €200, which is on the higher end of the sca...More Button

The tax is paid on the value. Deputy Healy-Rae implied the same thing. The tax is not on what one paid for the house. The tax is on the value of the house as will be assessed in the late spring,...More Button

If we take Deputy Stanley's example of where the house is worth €60,000, the charge will be the minimum charge of €90.More Button

The tax will be on the €60,000 valuation-----More Button

-----and it will be €90.More Button

That is €10 less than that person's liability this year when there was a flat rate of €100 charged. There is a relationship between value and what will be charged on this occasion.

 ...More Button

We all agree with hyperbole as a good way of making a point on some occasions, but this is blatant exaggeration. The rate of tax is 0.18%. Even a deferral for 20 years would result in an outstand...More Button

Exaggerated positions have been taken up.

  I stated already that we will deal with the pyrite issue in the finance Bill. We will construct it so that those concerned do not hav...More Button

Priory Hall is an unfinished estate and in the exceptions for unfinished estates, there will be no charge on Priory Hall. Priory Hall was exempt from the flat-rate tax and it will be exempt from t...More Button

We will-----More Button

This is the old tradition of a colony, that one will not obey the state because it is not our state. We have been running our own affairs since 1922.More Button

It is about time Deputy Mattie McGrath backed the Revenue-----More Button

-----and, as a public representative, stated that the Revenue should collect the taxes.More Button

It is about time Deputy Mattie McGrath stated that people should pay their taxes.More Button

One is not dealing with a foreign power anymore.More Button

One is dealing with our own Government since 1922.More Button

Deputy Mattie McGrath spoke of the pike in the thatch, fellows setting fire to the thatch and all of that old grá mo chroí rhetoric.More Button

Deputy Mattie McGrath must be looking at black and white movies when he is selling all of that kind of stuff.More Button

They are all right. They are quite safe.

  I do not want to be taking up good debating time.More Button

They will be.More Button

Will I not have a chance to reply, a Leas-Cheann Comhairle?More Button

I want the courtesy of a reply.More Button

The Opposition will not let me reply.More Button

Property Taxation Application

Was asked: the amount of property tax that will need to be paid for a house valued at €600,000 for a family on an invalidity pension of €1,100 per month.More Button

The 2013 half year property tax amount due on a property valued at €600,000 is €517. The full year property tax amount due on a property valued at €600,000 is €1,035.    ...More Button

Was asked: if any consideration was given to implementing a property tax on valuables sites that have not been developed; and if he will make a statement on the matter.More Button

The Inter-Departmental Group on the Design of a Local Property Tax, chaired by Dr Don Thornhill (the “Thornhill group”) considered the question of a site value tax or land value tax and reported in...More Button

The Group considered the site value tax (‘SVT’) option and benchmarked it against a market value based system. It reported that international experience would come down heavily in favour of usin...More Button

Under a market value approach applied to housing, the market value of a residential property is related to the characteristics of the building itself, the site on which it is located and the char...More Button

The Group reported that, in the case of SVT, property owners would have great difficulty in dealing with a valuation exercise which conceptually separates the buildings on the site from the site ...More Button

Both the 2009 and the 1982 – 1985 Commissions on Taxation recommended market value as a basis for the taxation of residential property. The 2009 Commission on Taxation also considered both the s...More Button

Was asked: if he will review a case regarding the assessment of the value of certain properties for the local property tax (details supplied)More Button

Revenue will provide guidance on how to value property early next year, and will engage in a comprehensive information campaign, including writing to residential property owners in March 2013 enclo...More Button

Was asked: the way he proposes to place an indicative value on homes under the property tax measure in view of the fact that three and four bedroom homes in counties Donegal and Mayo are being sold at auction...More Button

The Local Property Tax will be a self-assessed tax based on the market value of a residential property. There will be a system of market value taxable bands with the initial band covering €0-€100,...More Button

Revenue will provide guidance on how to value property early next year, and will engage in a comprehensive information campaign, including writing to residential property owners in March 2013 enc...More Button

Properties at the value mentioned by the Deputy will be liable to a Local Property Tax of €45 in 2013, when a half year charge will apply. This is €55 less than the Household Charge payable in 2...More Button

Tax Rebates

Was asked: if the proposed fuel rebate scheme for road hauliers will apply to agricultural contractors; if he will consider a proposal to extend the scheme to agricultural contractors; if his attention has be...More Button

Was asked: the reasons a fuel rebate scheme for road hauliers cannot be introduced on 1 January 2013; if he is concerned that jobs and businesses may be lost in the sector due to the late introduction of the ...More Button

Was asked: further to Parliamentary Question No. 174 of 15 May 2012, if he will be granting a fuel rebate to bus and coach companies.More Button

Was asked: if the new proposed diesel rebate scheme will apply to the marine transport sector and the bus and coach sector; and if he will make a statement on the matter.More Button

Was asked: if he will consider extending the proposed diesel rebate scheme to other transportation sectors, such as the marine transportation sector, in order to help businesses create sustainable transportat...More Button

Was asked: the qualification criteria for hauliers who wish to avail of the fuel rebate introduced in Budget 2013; and if he will make a statement on the matter.More Button

Was asked: if consideration will be given to extending the diesel rebate for hauliers, as announced in Budget 2013, to the marine transportation sector in recognition of the boost such a measure would have on...More Button

Was asked: in view of his various replies to both written and oral parliamentary questions regarding the granting of an essential users excise rebate to road hauliers, where he stated I should point out that ...More Button

Was asked: if he has sought permission from the EU Commission to introduce an essential users rebate for road haulage operators; the case he has put forward to have haulage operators classed as essential user...More Button

I propose to take Questions Nos. 128, 148, 157, 162, 172, 173, 189, 195 and 196 together.More Button

The proposal to introduce an auto-diesel excise duty relief for licensed road hauliers that I announced in the Budget is confined to licensed and tax compliant hauliers.More Button

However, I have received a number of submissions from, and on behalf of, private coach operators seeking to have this relief extended to them. I will consider this proposal in the context of the ...More Button

With regard to agriculture contractors, I assume the Deputy is referring to agricultural contractors using machinery designed for agricultural work. Contractors using such machinery in the course...More Button

The fuel rebate scheme proposed is governed by the terms of Council Directive 2003/96/EC of 27 October 2003 which limits its application to auto diesel used in defined categories of road vehicles...More Button

Was asked: if he will consider a rebate of VRT for vehicles originally imported into this country and exported at a later stage; and if he will make a statement on the matter.More Button

I am advised by the Revenue Commissioners that section 135(D), Finance Act, 1992 (as inserted by section 83(1)(j), Finance Act 2012) provides for the repayment of residual Vehicle Registration Tax ...More Button

Property Taxation Exemptions

Was asked: if the residents of Priory Hall, Dublin, are to be levied with the property tax; and if he will make a statement on the matter.More Button

It is envisaged that the list of unfinished estates to be prescribed by the Minister to the Environment, Community and Local Government for the purposes of the Local Property Tax will be in line wi...More Button

Was asked: if homeowners whose homes have Pyrite issues will be levied with the property tax.More Button

The Government is conscious of the very real costs and difficulties faced by people whose homes have been affected by pyrite. My colleague the Minister for Environment, Community and Local Governm...More Button

Was asked: if homeowners who currently pay management fees will be levied with the property tax.More Button

Revenue from the local property tax will accrue to local authorities and will support the provision of local services. Local authorities provide a broad range of services in the public realm which...More Button

Was asked: if any exemption will be given from the property tax to homeowners who have paid stamp duty in the previous nine years.More Button

There is no such exemption provided for in the Local Property Tax Bill. The Inter-Departmental Expert Group on the Design of a Property Tax (the ‘Thornhill Group’) recommended against allowances fo...More Button

Was asked: if the unfinished housing estates that were exempt from the household charge will be exempt from the new local property tax; and if he will make a statement on the matter.More Button

It is envisaged that the list of unfinished estates to be prescribed by the Minister to the Environment, Community and Local Government for the purposes of the Local Property Tax will be in line wi...More Button

Was asked: if he will provide an update on the property charges pertaining to an unfinished housing estate (details supplied) in County Longford which has been exempted from the household charge and a refund ...More Button

Having clarified the name of the housing estate with the Deputy I can confirm that the housing estate in question is listed in S.I. 1 of 2012 which lists those estates entitled to a waiver from pay...More Button

Was asked: if the list of estates deemed unfinished for the purposes of the local property tax will be based solely on the exemptions granted from the household charge; if the list will be revised; and if he ...More Button

It is envisaged that the list of unfinished estates to be prescribed by the Minister to the Environment, Community and Local Government for the purposes of the Local Property Tax will be in line wi...More Button

  Question No. 148 answered with Question No. 128.More Button

Was asked: if there will be provisions in the property tax for properties (details supplied).More Button

The Finance (Local Property Tax) Bill 2012, as published, provides for exemptions from and deferral of payment of Local Property Tax in certain circumstances. There is no blanket exemption in case...More Button

Was asked: if any provision will be made with the property tax for executors of wills to be entitled to defer payment until the property is sold; and if he will make a statement on the matter.More Button

Was asked: his plans to allow executors of wills to be included in the list of persons allowed to defer payment of the property tax, where the executor of the will, their spouse are sole or indeed the joint b...More Button

Was asked: if the new Finance (Local Property Tax) Bill 2012 will exempt executors of wills for whom the selling of a property is their responsibility but who are not the beneficiaries of that property, or if...More Button

I propose to take Questions Nos. 159, 164 and 194 together. More Button

Under section 11 of the Finance (Local Property Tax) Bill, the personal representative of the estate of a person who was a liable person for Local Property Tax will be the liable person in relati...More Button

A system of voluntary deferral arrangements is in place in relation to Local Property Tax. These are focused on particular categories of householders and will be implemented to address cases whe...More Button

- Where the gross income does not exceed €15,000 (single) and €25,000 (couple). More Button

- For income stressed owner-occupiers who have an outstanding mortgage, an adjusted gross income limit will apply – where gross income less 80% of mortgage interest falls below €15,000/€25,000 a de...More Button

In addition, More Button

- Marginal relief will apply for owner-occupiers where the income or adjusted income is €10,000 above the income limit (€15,000/€25,000) to permit deferrals of up to 50% of LPT liability. More Button

- Interest will be charged on deferred amounts but at a lower rate (i.e. 4% per annum) than the rate charged in default cases (i.e. 8% per annum). The deferred amount, including interest, will be ...More Button

Where a surviving spouse, civil partner or cohabitant remains within the income thresholds for a couple, a deferral will be allowed to continue as long as the income requirement is met. More Button

Under section 134 of the Bill, where the spouse, civil partner or cohabitant, as the case may be, of a liable person dies, the liable person may continue to claim a deferral until the first liabi...More Button

Was asked: if homes with confirmed pyrite will be exempted from the property tax; and if he will make a statement on the matter.More Button

Was asked: if an estate (details supplied) in County Meath will be exempt from the property tax; and if he will make a statement on the matter.More Button

I propose to take Questions Nos. 163 and 165 together. More Button

I understand the estate which is the subject of Deputy Hannigan's second question above has been affected by "pyritic heave". The Government is conscious of the very real costs and difficulties ...More Button

  Question No. 164 answered with Question No. 159.More Button

  Question No. 165 answered with Question No. 163.More Button

Tax Reliefs Application

Was asked: the progress that has been made in relation to the implementation of recommendations arising from the Moriarty Tribunal; and if he will make a statement on the matter.More Button

In response to the Deputy’s question I have considered the provision of tax relief for donations to political parties and have decided against introducing such relief. The Electoral ( Amendment ) (...More Button

Was asked: if he will provide in tabular form the number of persons under the age of 25, 30, 35 and 40 years respectively that availed of tax relief on pension contributions from 2007 to date in 2012 on an an...More Button

I am informed by the Revenue Commissioners that estimates of the cost of tax relief on pension contributions are compiled by reference to the aggregate amount of relief allowed and are not sub-clas...More Button

Was asked: the position regarding capital gains liability in respect of a person (details supplied) in County Tipperary; the reasons, if any, the exemption is not applied to them; and if he will make a statem...More Button

I am informed by the Revenue Commissioners that relief from capital gains tax was available where a farmer sold land and used the proceeds to purchase other land for use in farming. This relief (c...More Button

As I understand that the person whose details you supplied sold and bought the lands in question earlier this year there is no relief available in respect of any capital gains tax payable on that...More Button

Tax Code

Was asked: further to recent budgetary announcements if a person (details supplied) may qualify for Capital Gains Tax for agricultural land rollover relief; and if he will make a statement on the matter.More Button

Relief from capital gains tax was available where a farmer sold land and used the proceeds to purchase other land for use in farming. This relief (commonly referred to as roll-over relief) was a de...More Button

I understand that the person whose details you supplied bought farm land earlier this year. The purchaser would not have a Capital Gains Tax liability on this transaction. The relief announced in...More Button

Was asked: the rate of taxation to which credit union dividends are subject; and if he will make a statement on the matter.More Button

I am informed by the Revenue Commissioners that dividends arising on credit union share accounts are subject to tax as follows:

-Regular Share Accounts: The credit union member is required...More Button

Was asked: if he will consider modifying the various statements issued by the Revenue to persons so that these would state the total tax paid by a person as a percentage of their income as well as providing t...More Button

I am assuming that the Deputy's question is linked to the proposals contained in the Tax Transparency Bill which he introduced in the Dáil on 29 March last. In my contribution to the debate during...More Button

For taxpayers from whom tax is collected through the Pay As You Earn system, the Form P21 Balancing Statement, setting out the amount of taxable income and the amount of tax paid, is issued almos...More Button

To the extent that they are issued, which will decline, the statements referred to above are already very detailed documents containing significant amounts of complex information. Revenue is con...More Button

Was asked: if in the context of double taxation agreement or similar arrangement, a US/Irish citizen having dual citizenship is restricted to entitlement to one pension only either from the US or from this co...More Button

I wish to advise the deputy that, under the terms of the double taxation agreement (DTA) between Ireland and the United States, the rules provide that one or other of the countries has exclusive ri...More Button

Was asked: if he will provide the estimated income that would be generated by placing a 1% levy on each unit of alcohol sold here; and if he will make a statement on the matter.More Button

I am informed by the Revenue Commissioners that the information requested regarding a 1% levy on each unit of alcohol is not available. EU Directive 92/83, which governs the structure of alcohol t...More Button

  Question No. 189 answered with Question No. 128.More Button

Tax and Social Welfare Codes

Was asked: if credit union dividends will be subject to PRSI in 2014; if they are classified as unearned income; and if he will make a statement on the matter.More Button

I am advised by the Department of Social Protection that, in general, credit union dividends come within the definition of ‘reckonable income’ and accordingly are subject to PRSI at 4%. In the cas...More Button

Was asked: the reason the announcement in his 2012 Budget statement that the base for PRSI would be broadened to cover rental, investment and other forms of income in 2013, has been pushed back until 2014; if...More Button

I announced in Budget 2013 that the PRSI base will be broadened to cover rental, investment and other forms of income from January 2014. The Deputy will be aware that the Revenue Commissioners col...More Button

Banking Sector Regulation

Was asked: if he will provide details of the Central Bank of Ireland powers to suspend a person from acting as director of an insurance company; the possible duration of such a suspension; the circumstances u...More Button

The Deputy should note that the Central Bank cannot comment on individual cases as they are precluded under section 33AK of the Central Bank Act 1942, from disclosing information on individual fina...More Button

Banking Sector Remuneration

Was asked: the number of members there are in the Irish Bank Resolution Corporation, formerly Anglo Irish Bank, pension scheme; if there has been any reduction in pensions paid to members in the past five yea...More Button

Was asked: the number of deferred members there are in the Irish Bank Resolution Corporation, formerly Anglo Irish Bank, pension scheme; if there will be any reduction in pensions to be paid to members when t...More Button

I propose to take Questions Nos. 141 and 142 together.

  I have been advised that the number of members in the former Anglo Irish Bank and former INBS defined benefit pension sch...More Button

Was asked: if his attention has been drawn to the situation being faced by deferred members in a company (details supplied) which is now under the control of the Irish bank Resolution Corporation; the losses ...More Button

Was asked: if he will outline in tabular form the fees paid by the Irish bank Resolution Corporation to all advisors in relation to the operation of the pension scheme of a company (details supplied) controll...More Button

I propose to take Questions Nos. 143 and 144 together.

  I have been advised that it would be inappropriate for IBRC to provide a response to this question as it relates to a mat...More Button

Was asked: the reason the provisions of the Credit Institutions (Stabilisation) Act 2010 cannot be utilised to reduce pensions paid to former senior executives of banks; and if he will make a statement on the...More Button

As I outlined to the Deputy in my previous reply (ref no 51257/12 of 20th November 2012), on the same subject, the scope to use the provisions of the Credit Institutions (Stabilisation) Act 2010 i...More Button

Was asked: if he will provide a detailed breakdown of any non salary entitlements or benefits going to current and new employees of the Irish Bank Resolution Corporation as part of their terms of employment.More Button

I have been advised that IBRC can confirm that a large volume of information regarding remuneration structures across the Bank has been recently supplied as part of the Mercer Remuneration Review a...More Button

  Question No. 157 answered with Question No. 128.More Button

Was asked: if he will confirm the reason the Governor of the Central Bank of Ireland (details supplied) is earning in 2012 approximately 40% less than his deputy.More Button

Under the Central Bank Act 1942 and the Statute of the European System of Central Banks (ESCB), the Government has no role in the setting of terms and conditions of employment in the Central Bank. ...More Button

The Central Bank publishes information related to remuneration of executive and non executive directors in its annual report. In 2011, the Governor earned a salary of €276,324. The Deputy Governo...More Button

Was asked: if he will provide an explanation as to the reason there are at least six staff at the Irish Bank Resolution Corporation earning more than €400,000 per annum whilst no staff at the National Asset M...More Button

Following the appointment of the current CEO of IBRC in September 2009, the entire executive of the Bank was replaced with an appropriately skilled senior management team, to lead the newly formed ...More Button

Budget 2013

Was asked: the reason the lid tax proposed by vintners organisations was not included in Budget 2013; and if he will make a statement on the matter.More Button

The Deputy will be aware that I received a large number of pre-Budget submissions including a    proposal for the introduction of a lid-on levy from vintners’ organisations. Pre...More Button

Tax Yield

Was asked: if the tax band was increased from 41% to 42%, the savings this would incur and how sufficient would these savings be; and if he will make a statement on the matter.More Button

I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2013 incomes, of increasing the higher rate of income tax by 1 percentage point would...More Button

Was asked: the estimate of extra tax that will be collected in a full year due to changes in taxes directed at the agricultural sector, including the VAT rebate for unregistered farmers; and if he will make a...More Button

Budget 2013 introduced four measures relating to the taxation of the farming sector, none of which incur extra tax on the agricultural sector. The Budget provided for the extension of the general ...More Button

In addition, Budget 2013 is extending the stock relief for farm partnerships to include other registered partnerships such as beef production partnerships, subject to EU State Aid approval. This...More Button

Finally, the farmers' VAT flat-rate addition for un-registered farmers is being reduced as part of the Budget from 5.2% to 4.8% with effect from 1 January 2013. This change will yield the Excheq...More Button

  Question No. 162 answered with Question No. 128.More Button

Crime Prevention

Was asked: the steps he will take to penalise criminals involved in the sale and supply of laundered, illegal or counterfeit products such as diesel, tobacco and clothing; if he has considered increasing the ...More Button

I am informed by the Revenue Commissioners, who have responsibility for the collection of tobacco products tax and mineral oil tax and for tackling the importation of counterfeit goods, that they a...More Button

European Council Meetings

Was asked: the formations of the EU Councils of Ministers on which he sits; the number of meetings of that Council held from 9 March 2011 to date in 2012; the number of those meetings he attended; the number ...More Button

The Economic and Financial Affairs Council (Ecofin) usually meets monthly, although it can meet more frequently, if required. Formal Ecofin meetings are held in Brussels or Luxembourg; Informal Ec...More Button

Tax Reliefs Cost

Was asked: the total cost to the Exchequer in a full year of new tax reliefs introduced in Budgets 2012 and 2013, directed at the agricultural sector, the break down of the saving per relief; and if he will m...More Button

The tax changes introduced in Budgets 2012 and 2013 which have particular relevance to the agricultural sector are set out below.

Budget 2012

Extens...More Button

Revenue Commissioners Investigations

Was asked: if the Revenue Commissioners are obliged to carry out a revenue audit on a couples finances when one member of the couple request such an audit; and if he will make a statement on the matter.More Button

One of the primary roles of the Revenue Commissioners is to ensure that all taxpayers meet their tax and duty obligations. I am advised by the Commissioners that they meet that objective by select...More Button

On occasions, Revenue also receives information from the general public. While there is not, nor should there be, an obligation on the Commissioners to take any particular course of action on fo...More Button

Was asked: further to Parliamentary Question No. 151 of 11 December 2012, if he will provide more detailed information on the work being undertaken by the Revenue Commissioners with a Government Department an...More Button

The Deputy will be aware that the level of a person’s annual income is one of the criteria that is taken into account in the means assessment process. I am advised by the Revenue Commissioners tha...More Button

In the case of the HSE, enabling legislation is required before any form of data exchange can take place and I understand that this is planned for 2013. In the case of the Department of Educatio...More Button

I fully welcome this initiative that is being undertaken by Revenue, the HSE and the Department of Education & Skills. It is an excellent example of inter-agency collaboration that is a key part...More Button

Banking Operations

Was asked: with regard to the covered institutions, the number of claims made by customers alleging overpayment as opposed to overcharging on personal and commercial loans since the guarantee was put in place...More Button

I have received the following responses to your question from the covered institutions.

BOI

  Bank of Ireland deals with any queries related to matters such as in...More Button

Pensions Levy Issues

Was asked: if he will reverse the decision to impose a 0.6% levy imposed on private and occupational pension fund assets; and if he will make a statement on the matter.More Button

The pension fund levy applies at a rate of 0.6% per annum to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislat...More Button

Universal Social Charge Payments

Was asked: if a person (details supplied) in County Mayo will be affected by the change to the universal social charge for persons over 70 years.More Button

The position is that the changes I announced on Budget Day in relation to the liability of individuals to the Universal Social Charge (USC), apply to those individuals who are 70 years of age and o...More Button

Was asked: if he will provide, in tabular form, the estimated income that would be generated for the State by raising the universal social charge by 3% on all taxable income above €70,000 and for each €5,000 ...More Button

I am advised by the Revenue Commissioners that the full year yield, estimated by reference to 2013 incomes, of a 3 percentage point increase in the rate of Universal Social Charge (USC) applying to...More Button

Was asked: if he will consider either this year or for next year's budget dealing with the anomaly caused by the €60,000 threshold attracting a 7% universal social charge whereby an income of €60,0011 produce...More Button

The position is that, in order to ensure equity between all citizens based on their level of income, the reduced rate of Universal Social Charge (USC) will be discontinued from the 1 January 2013, ...More Button

NAMA Expenditure

Was asked: further to Parliamentary Question No. 139 of 11 December 2012, if he will confirm the fees paid by the National Assets Management Agency or its debtor for the provision of an independent valuation ...More Button

As advised in my response to your Parliamentary Question of 11th December 2012 (55389/12), I do not intend to go beyond the extensive information that NAMA, based on legal advice, has already made ...More Button

NAMA Staff Pensions

Was asked: further to the announcement by the Irish Bank Resolution Corporation in which he is the sole shareholder of 100% of the shares, that IBRC has engaged a person (details supplied) as chief risk offic...More Button

I am advised by NAMA that its Annual Report for 2011, which is available on the NAMA website, www.nama.ie, provides details on its organisational structure, staffing resources and operating ...More Button

NAMA Portfolio Value

Was asked: if he will provide the financial quantum of loans net of provisions being managed by the National Asset Management Agency at 30 June 2012 and being managed by the Irish Bank Resolution Corporation ...More Button

I am advised by NAMA that the financial quantum of loans net of provisions managed by it is disclosed in the Section 55 accounts to 30th June, which are published on the NAMA website, www.nama.i...More Button

Banks Recapitalisation

Was asked: if he will provide the latest estimate of the dates by which the National Asset Management Agency and the Irish Bank Resolution Corporation will be wound up.More Button

IBRC is working in accordance with a plan which has been approved by the EU for the work out of the organisation by 2020. It is important in this context to be clear the interim accounts produced b...More Button

Was asked: if he will outline the metrics by which he assesses the ongoing performance of the National Asset Management Agency and the Irish Bank Resolution Corporation.More Button

The Shareholding Management Unit of my Department monitors the performance of IBRC on a regular basis. The Unit fulfils this duty through a number of instruments including a Monthly Operating Plan ...More Button

NAMA is assessed by reference to the objectives set for it by the Oireachtas as set out in Section 20 of the NAMA Act 2009. NAMA was, as the Deputy is aware, established to (1) remove systemic r...More Button

NAMA is now fully engaged in its core role of managing and selling the assets under its control with a view to obtaining the best financial return for the state. The progress that is being made ...More Button

As a result of its current cash and liquid asset balance and strong cash-generation capacity, NAMA is firmly on course to meet its ultimate objective of redeeming over its projected ten-year life...More Button

Whilst these are the primary measures against which NAMA’s work is viewed, I also note that it is playing a vital role in helping to encourage activity in the Irish commercial and residential pro...More Button

Was asked: further to Parliamentary Question No. 311 of 18 September 2012, when he said that the National Asset Management Agency does not compete with the Irish Bank Resolution Corporation for resources and ...More Button

Many financial institutions will compete for suitably experienced staff in the Irish market, whether it is with the Irish covered banks, non-Irish banks or specialist financial services platforms. ...More Button

NAMA Operations

Was asked: if he will provide the profit or loss of the National Asset Management Agency for the six months ending 30 June 2012 and the profit or loss of the Irish Bank Resolution Corporation for the same per...More Button

I am advised by NAMA that profit after tax was disclosed in the Section 55 accounts to 30th June 2012, which are published on the NAMA website, www.nama.ie. IBRC’s 2012 Interim Report, which...More Button

Property Taxation Collection

Was asked: if he will confirm if the Revenue Commissioner has preferential creditor status relating to debts accruing for non-payment of the property tax, that is if there is non-payment on a property and the...More Button

Was asked: the consideration given when forecasting the revenue to be generated by the new property tax, to deferrals and charges for unpaid tax, reducing the loans recovered by banks who may have mortgages o...More Button

I propose to take Questions Nos. 183 and 186 together. More Button

Under the Finance (Local Property Tax) Bill 2012, unpaid Local Property Tax together with any accrued interest will be a charge on the property to which it relates. The Bill does not confer any p...More Button

Was asked: if he will provide a projection of receipts for the new property tax in 2013; if the same degree of non-compliance as pertains in 2012 for the household charge applies in 2013 for the property tax.More Button

The yield from the local property tax is estimated to be €250m in 2013 (half year charge) and €500 m in a full year. This projected yield takes into account deferrals by those for whom provision ha...More Button

  Question No. 186 answered with Question No. 183.More Button

NAMA Property Sales

Was asked: if he will ascertain from the National Assets Management Agency the status of moneys paid by NAMA to Carlow County Council in respect of local estates upkeep of those estates and lighting and so on.More Button

As the Deputy is aware NAMA has acquired loans from five Irish financial institutions and is not the owner/operator of properties. The Agency’s role is that of a secured lender. Other than proper...More Button

Mortgage Arrears Proposals

Was asked: if he will intervene to try and help young couples who are struggling to pay their mortgages; his further views on whether mortgages should be reduced to reflect the now much lower valuation of the...More Button

I can assure the Deputy that the Government is aware of the significant difficulties some homeowners are facing in meeting their mortgage obligations and it is committed to advancing appropriate me...More Button