Part 1 Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-67)

AI Summary of Part 1 Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-67)

Version status: | Document consolidation status: Updated to reflect all known changes

Version date: 31 March 2012 - onwards

		Future version	Amendment requiring commencement	Draft proposed change
	Chapter 1 Interpretation (s. 1)
	1. Interpretation (Part 1).
	Chapter 2 Universal Social Charge (ss. 2-3)
	2. Universal social charge: miscellaneous amendments.
	3. Universal social charge: surcharge on use of property incentives.
	Chapter 3 Income Levy and Income Tax (ss. 4-18)
	4. Share-based remuneration.
	5. Amendment of Schedule 23A (specified occupations and professions) to Principal Act.
	6. Amendment of section 470B (age-related relief for health insurance premiums) of Principal Act, etc.
	7. Amendment of section 126 (tax treatment of certain benefits payable under Social Welfare Acts) of Principal Act.
	8. Relief for key employees engaged in research and development activities.
	9. Amendment of section 244 (relief for interest paid on certain home loans) of Principal Act.
	10. Amendment of section 472A (relief for the long term unemployed) of Principal Act.
	11. Amendment of section 473A (relief for fees paid for third level education, etc.) of Principal Act.
	12. Deduction for income earned in certain foreign states.
	13. Amendment of section 825B (repayment of tax where earnings not remitted) of Principal Act.
	14. Special assignee relief programme.
	15. Provisions relating to PAYE.
	16. Changes relating to tax relief for lessors, carried forward losses and balancing charges.
	17. Provisions in relation to property incentives and capital allowances.
	18. Retirement benefits.
	Chapter 4 Income Tax, Corporation Tax and Capital Gains Tax (ss. 19-44)
	19. Amendment of section 176 (purchase of unquoted shares by issuing company or its subsidiary) of Principal Act.
	20. Farm taxation.
	21. Amendment of Schedule 13 (accountable persons for purposes of Chapter 1 of Part 18) to Principal Act.
	22. Relevant contracts tax.
	23. Amendment of section 482 (relief for expenditure on significant buildings and gardens) of Principal Act.
	24. Amendment of section 481 (relief for investment in films) of Principal Act.
	25. Amendment of section 486B (relief for investment in renewable energy generation) of Principal Act.
	26. Income tax relief for investment in corporate trades - employment and investment incentive and seed capital scheme.
	27. Amendment of Part 29 (patents, scientific and certain other research, know-how and certain training) of Principal Act.
	28. Life assurance policies and investment funds: rates.
	29. Amendment of Chapter 5 (policyholders - new basis) of Part 26 of Principal Act.
	30. Undertakings for collective investment and unit holders.
	31. Amendment of section 739D (gain arising on a chargeable event) of Principal Act.
	32. Amendment of section 739G (taxation of unit holders in investment undertakings) of Principal Act.
	33. Amalgamations of investment undertakings and offshore funds.
	34. Amendment of section 747E (disposal of an interest in offshore funds) of Principal Act.
	35. Scheme of migration and amalgamation.
	36. Amendment of Part 8 (annual payments, charges and interest) of Principal Act.
	37. Amendment of Part 8A (specified financial transactions) of Principal Act.
	38. Withholding tax relating to certain dividends and interest.
	39. Amendment of section 198 (certain interest not to be chargeable) of Principal Act.
	40. Amendment of section 80A (taxation of certain short-term leases plant and machinery) of Principal Act.
	41. Amendment of section 110 (securitisation) of Principal Act.
	42. Application of section 130 of Principal Act to certain non-yearly interest.
	43. Income tax on payments by non-resident companies.
	44. Emissions allowances.
	Chapter 5 Corporation Tax (ss. 45-54)
	45. Amendment of section 486C (relief from tax for certain start-up companies) of Principal Act.
	46. Amendment of Schedule 4 (exemption of specified non-commercial state-sponsored bodies from certain tax provisions) to Principal Act.
	47. Amendment of section 411 (surrender of relief between members of groups and consortia) of Principal Act.
	48. Amendment of section 835D (principles for constructing rules in accordance with OECD guidelines) of Principal Act.
	49. Amendment of Schedule 24 (relief from income tax and corporation tax by means of credit in respect of foreign tax) to Principal Act.
	50. Amendment of section 77 (miscellaneous special rules for computation of income) of Principal Act.
	51. Mergers where a company is dissolved without going into liquidation.
	52. Unilateral relief (leasing income).
	53. Amendment of section 21B (tax treatment of certain dividends) of Principal Act.
	54. Consequential amendments to Principal Act on expiration of scheme of relief for certain manufacturing companies.
	Chapter 6 Capital Gains Tax (ss. 55-67)
	55. Capital gains: rate of charge.
	56. Amendment of section 533 (location of assets) of Principal Act.
	57. Amendment of section 562 (contingent liabilities) of Principal Act.
	58. Certain share transactions with investment undertakings.
	59. Amendment of section 598 (disposals of business or farm on "retirement") of Principal Act.
	60. Amendment of section 599 (disposals within family of business or farm) of Principal Act.
	61. Amendment of section 611 (disposals to State, public bodies and charities) of Principal Act.
	62. Amendment of section 613 (miscellaneous exemptions for certain kinds of property) of Principal Act.
	63. Amendment of Schedule 15 (list of bodies for purposes of section 610) to Principal Act.
	64. Relief for certain disposals of land or buildings.
	65. Exclusion of foreign currency as asset of certain companies.
	66. Amendment of section 579 (non-resident trusts) of Principal Act.
	67. Exemption for proceeds of disposal by sports bodies.

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AI Summary of Part 1 Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-67)

Part 1 Income Levy, Universal Social Charge, Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-67)