Part I Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-88)

AI Summary of Part I Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-88)

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

Version date: 28 May 1992 - onwards

		Future version	Amendment requiring commencement	Draft proposed change
	Chapter I Income Tax (ss. 1-15)
	1. Amendment of provisions relating to exemption from income tax.
	2. Alteration of rates of income tax.
	3. Amendment of section 6 (special allowance in respect of P.R.S.I. for 1982-83) of Finance Act, 1982.
	4. Cesser of relief in respect of life insurance premiums.
	5. Amendment of section 432 (making of claims, etc., and appeals and rehearings) of Income Tax Act, 1967.
	6. Amendment of Chapter II (occupational pension schemes) of Part I of Finance Act, 1972.
	7. Amendment of section 8 (permanent health benefit schemes) of Finance Act, 1979.
	8. Amendment of section 4 (benefit of use of a car) of Finance Act, 1982.
	9. Amendment of section 8 (restriction of relief in respect of interest paid on certain loans at a reduced rate) of Finance Act, 1982.
	10. Amendment of section 13 (interpretation (Chapter III)) of Finance Act, 1987.
	11. Amendment of section 14 (accountable persons) of Finance Act, 1987.
	12. Cesser of provisions relating to approved share option schemes.
	13. Cesser of section 14 (taxation treatment of certain dividends) of Finance Act, 1986.
	14. Relief to individuals on loans applied in acquiring interest in companies.
	15. Treatment for tax purposes of certain benefits payable under Social Welfare Acts.
	Chapter II Income Tax, Corporation Tax and Capital Gains Tax (ss. 16-39)
	16. Amendment of section 36 (construction of references to child, son and daughter in Tax Acts and Capital Gains Tax Act, 1975) of Finance Act, 1977.
	17. Amendment of Chapter IX (profit sharing schemes) of Part I of and Third Schedule (profit sharing schemes) to Finance Act, 1982.
	18. Taxation of consideration for certaion restrictive covenants, etc.
	19. Treatment of patent royalties and related distributions.
	20. Amendment of section 28 (farming: provision relating to relief in respect of increase in stock values) of Finance Act, 1980.
	21. Capital allowances for, and deduction in respect of, vehicles.
	22. Amendment of Chapter IV (interest payments by certain deposit takers) of Part I of Finance Act, 1986.
	23. Amendment of section 46 (limited partnerships: relief restrictions) of Finance Act, 1986.
	24. Securities of Bord Gáis Éireann.
	25. Restriction of capital allowances on holiday cottages.
	26. Application and amendment of section 241 (wear and tear of machinery, plant, etc.) of Income Tax Act, 1967.
	27. Amendment of section 255 (meaning of "industrial building or structure") of Income Tax Act, 1967.
	28. Extension and amendment of section 17 (tax deductions from payments to subcontractors in the construction industry) of Finance Act, 1970.
	29. Amendment of Chapter V (Urban Renewal: Relief from Income Tax and Corporation Tax) of Part I of Finance Act, 1986.
	30. Amendment of section 27 (designated areas for urban renewal relief) of Finance Act, 1987.
	31. Amendment of section 4 (relief for expenditure on certain buildings in designated areas) of Finance Act, 1989.
	32. Amendment of section 18 (date for payment of tax) of Finance Act, 1988.
	33. Amendment of section 21 (miscellaneous) of Finance Act, 1988.
	34. Amendment of Chapter VII (Urban Renewal: Temple Bar and other areas) of Part I of Finance Act, 1991.
	35. Treatment of certain distributions received on or after 29th day of January, 1992.
	36. Option in relation to section 35 (certain unit trusts not to be collective investment undertakings) of Finance Act, 1990.
	37. Application of section 25 (attribution of distributions to accounting periods) of Finance Act, 1989, to interim dividends.
	38. Distributions to non-residents.
	39. Provisions relating to section 244 (allowance for scientific research) of Income Tax Act, 1967, etc.
	Chapter III Corporation Tax (ss. 40-58)
	40. Amendment of section 84A (limitation on meaning of "distribution") of Corporation Tax Act, 1976.
	41. Amendment of section 21 (amendment of Part IX (Schedule F and company distributions) of Corporation Tax Act, 1976) of Finance Act, 1989.
	42. Amendment of Part XXXII (government and other public loans) of Income Tax Act, 1967, and computation of losses.
	43. Building societies (taxation of certain transactions).
	44. Amendment of Part III (special classes of companies) of Corporation Tax Act, 1976.
	45. Credit for bank levy.
	46. Restriction of certain losses and charges on income and consequential amendments.
	47. Amendment of section 39 (meaning of "goods") of Finance Act, 1980.
	48. Termination of relief in respect of certain transactions of agricultural and fishery societies.
	49. Recovery of tax credits from companies.
	50. Group payments.
	51. Amendment of section 44 (group dividends) of Finance Act, 1983.
	52. Amendment of section 39A (relief in relation to income from certain trading operations carried on in Shannon Airport) of Finance Act, 1980.
	53. Amendment of section 39B (relief in relation to income from certain trading operations carried on in Custom House Docks Area) of Finance Act, 1980.
	54. Amendment of section 41 (basis of relief from corporation tax) of Finance Act, 1980.
	55. Late submission of returns: restriction of certain claims to relief.
	56. Relief for gifts to The Enterprise Trust Ltd.
	57. Amendment of section 39 (exemption of certain income of Nítrigin Éireann Teoranta) of Finance Act, 1988.
	58. Amendment of section 35 (relief for investment in films) of Finance Act, 1987.
	Chapter IV Capital Gains Tax (ss. 59-63)
	59. Reduction in exemption for individuals.
	60. Alteration of rates of capital gains tax.
	61. Restriction of Schedule 2 (companies and shareholders) to Capital Gains Tax Act, 1975.
	62. Amendment of section 9 (consideration) of Capital Gains Tax Act, 1975.
	63. Amendment of section 47 (options) of Capital Gains Tax Act, 1975.
	Chapter V Implementation of Council Directive No: 90/434/EEC and other related matters (ss. 64-74)
	64. Interpretation (Chapter V).
	65. Transfer of assets generally.
	66. Transfer of an asset by a company to its parent company.
	67. Company reconstruction or amalgamation: transfer of development land.
	68. Amendment of section 36 (chargeable gains on disposals of development land) of Finance Act, 1982.
	69. Credit for tax.
	70. Avoidance of tax.
	71. Returns.
	72. Other transactions.
	73. Amendment of section 132 (disposal or acquisition outside a group) of Corporation Tax Act, 1976.
	74. Apportionment of amounts.
	Chapter VI Petroleum Taxation (ss. 75-88)
	75. Interpretation (Chapter VI).
	76. Separation of trading activities.
	77. Reduction of corporation tax.
	78. Treatment of losses, etc.
	79. Restriction of group relief.
	80. Restriction of relief for losses on certain disposals.
	81. Interest and charges on income.
	82. Restriction of set-off of advance corporation tax.
	83. Development expenditure: capital allowances and charges.
	84. Exploration expenditure: allowances and charges.
	85. Exploration expenditure incurred by certain companies.
	86. Abandonment expenditure: allowances and loss relief.
	87. Valuation of petroleum in certain circumstances.
	88. Treatment of certain disposals.

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AI Summary of Part I Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-88)

Part I Income Tax, Corporation Tax and Capital Gains Tax (ss. 1-88)