Finance Act, 1969
Acts of the Oireachtas
Source: Acts of the Oireachtas

num: 1
paragraphs: —(1) Income tax shall be charged for the year beginning on the 6th day of April, 1969, at the rate of seven shillings in the pound.
(2) Sur-tax for the year beginning on the 6th day of April, 1969, shall be charged in respect of the income of any individual the total of which from all sources exceeds two thousand five hundred pounds and shall be so charged at the same rates as those at which it is charged for the year beginning on the 6th day of April, 1968.
num: 2
paragraphs: —(1) In this section “a work” means an original and creative work, whether written, composed or executed, as the case may be, before or after the passing of this Act, which falls into one of the following categories—
(a) a book or other writing;
(b) a play;
(c) a musical composition;
(d) a painting or other like picture;
(e) a sculpture.
(2) (a) This section applies to an individual—
(i) who is resident in the State and is not resident elsewhere, and
(ii) (I) who is determined by the Revenue Commissioners, after consideration of any evidence in relation to the matter which the individual submits to them and after such consultation (if any) as may seem to them to be necessary with such person or body of persons as in their opinion may be of assistance to them, to have written, composed or executed, as the case may be, either solely or jointly with another individual, a work or works generally recognised as having cultural or artistic merit, or
(II) who has written, composed or executed, as the case may be, either solely or jointly with another individual, a particular work which the Revenue Commissioners, after consideration of the work and of any evidence in relation to the matter which the individual submits to them and after such consultation (if any) as may seem to them to be necessary with such person or body of persons as in their opinion may be of assistance to them, determine to be a work having cultural or artistic merit.
(b) The Revenue Commissioners shall not make a determination under this subsection unless—
(i) the individual concerned duly makes a claim to the Revenue Commissioners for the determination, being, where the determination is sought under paragraph (a) (ii) (II), a claim made after the publication, production or sale, as the case may be, of the work in relation to which it is sought, and
(ii) the individual complies with any request to him under subsection (4).
num: 3
paragraphs: —(1) Subject to the provisions of this section, an individual who, in the manner prescribed by the Income Tax Acts makes a claim in that behalf, makes a return in the prescribed form of his total income and proves—
(a) (i) that, throughout the year of assessment, he was totally incapacitated by physical or mental infirmity, or
(ii) that, being a married man, his wife was, throughout the year of assessment, totally incapacitated by physical or mental infirmity, and
(b) that for the year of assessment he has employed a person for the purpose of having the care of the person (being the individual or his wife) who is so incapacitated,
shall, in computing the amount of his taxable income, be entitled to have a deduction of £100 made from his assessable income.
(2) No more than one deduction shall be allowed under this section to any claimant for any year.
(3) (a) The provisions of sections 146 and 149 of the Income Tax Act, 1967 , shall apply to a deduction under this section as they apply to any allowance, deduction or relief under sections 134 to 145 of that Act.
num: 4
paragraphs: —(1) In this section—
“conversion”, in relation to machinery or plant, means any conversion or adaptation of the machinery or plant which is made because of the introduction in the State of a system of decimal currency;
“decimalised machinery or plant” means machinery or plant—
(a) which before the 6th day of April, 1971, is provided for use in any area other than an undeveloped area for the purposes of a trade or profession and which, at the time it is so provided, is unused and not secondhand,
(b) which is of a kind which is so provided because of the introduction in the State of a system of decimal currency, and
(c) which is not so provided for use in the manufacture of machinery or plant;
“undeveloped area” has the same meaning as in the Undeveloped Areas Act, 1952 .
(2) Subject to the provisions of this section, where for any year of assessment a deduction falls to be allowed under section 241 of the Income Tax Act, 1967 , for wear and tear of any decimalised machinery or plant, the deduction shall, subject to subsection (6) of that section, be increased by such amount as is specified by the person to whom the deduction is to be allowed in making his claim for the deduction; and, in relation to a case in which this subsection has had effect, any reference in the Income Tax Acts to a deduction allowed under the said section 241 shall be construed as a reference to that deduction as increased under this subsection.
(3) Subsection (2) shall not apply to decimalised machinery or plant which is let to a person on the terms mentioned in section 241 (2) of the Income Tax Act, 1967 , unless the contract of letting provides that the person shall or may become the owner of the machinery or plant on the performance of the contract; and where the contract so provides, if the person ceases to be entitled (otherwise than on his death) to the benefit of the contract so far as it relates to the machinery or plant, but without having become the owner of the machinery or plant, subsection (2) shall be deemed not to have applied in relation to the machinery or plant, and, accordingly, there shall be made all such additional assessments and adjustments of assessments as may be appropriate.
(4) Where for any year of assessment the deduction under section 241 of the Income Tax Act, 1967 , for wear and tear of any machinery or plant is increased under this section, no allowance under Chapter I of Part XV of the said Act shall be made in relation to the machinery or plant for that or any subsequent year of assessment.
(5) Where before the 6th day of April, 1971, a person carrying on a trade or profession incurs expenditure on the conversion of machinery or plant which is in use for the purposes of the trade or profession and is not in use for the purpose of manufacturing machinery or plant, the amount of the said expenditure shall (if not otherwise so allowable) be allowable as a deduction in computing for the purposes of income tax the profits or gains or losses of the trade or profession, and, where it is so allowed, shall not be regarded as capital expenditure for any of the purposes of the Income Tax Acts.
num: 5
paragraphs: —(1) Section 76 of the Income Tax Act, 1967 , is hereby amended by the insertion, after subsection (6), of the following subsections:
“(7) Where—
(a) any securities issued by the Minister for Finance with a condition in the terms specified in section 464, or
(b) any stocks or other securities to which section 474 applies and which are issued with either or both of the conditions specified in subsection (2) of that section,
for the time being form part of the investments of the foreign life assurance fund of an assurance company, the income arising from any of those stocks or securities, if applied for the purposes of that fund or reinvested so as to form part of that fund, shall not be liable to tax.
(8) Where the Revenue Commissioners are satisfied that any income arising from the investments of the foreign life assurance fund of an assurance company has been remitted to the State and invested, as part of the investments of that fund, in any stocks or securities issued as aforesaid, that income shall not be liable to tax and any tax paid thereon shall, if necessary, be repaid to the company.”.
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paragraphs: —(1) Where, after the passing of this Act, an assessment for the year 1962-63 or any earlier year of assessment falls to be made—
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paragraphs: — Section 12 (2) of the Finance Act, 1967 , is hereby amended—
(a) by the substitution in paragraph (b) (i) of “£500” for “£300”,
(b) by the substitution in paragraph (b) (ii) of “£500-£450” for “£300-£250”, and
(c) by the addition of the following new paragraph—
“(c) Where an individual, having made a claim in that behalf and having made a return in the prescribed form of his total income, proves that in the year of assessment he defrayed health expenses which were incurred for the provision of health care for qualified persons and which amount in the aggregate to more than £100, but excluding from the computation of that aggregate any such expenses in excess of £500 for any one qualified person, he shall be entitled, for the purpose of ascertaining the amount of the income on which he is to be charged to income tax, to have a deduction of the amount by which the aggregate of the health expenses so computed exceeds £100 made from his assessable income and such deduction shall be in substitution for and not in addition to a deduction under paragraph (a).”.
num: 8
paragraphs: — Section 125 (a) of the Income Tax Act, 1967 , is hereby amended by the addition of—
“not being emoluments of an employee arising from an office under or employment with the Bank of Ireland which he commences to hold on or after the date on which the business of the National Bank of Ireland Limited and the Hibernian Bank, Limited is transferred to the Bank of Ireland”.
num: 9
paragraphs: — Section 138 of the Income Tax Act, 1967 , is hereby amended—
(a) by the substitution in subsection (1) of “£424” for “£394”, in each place where it occurs, of “£249” for “£234” and of “£524” for “£494”; and
(b) by the substitution in subsection (2) of “£249” for “£234” in both places where it occurs and of “£274” for “£259”.
num: 10
paragraphs: — Section 141 of the Income Tax Act, 1967 , is hereby amended by the substitution of the following subsections for subsection (1):
“(1) If the claimant proves that he has living at any time during the year of assessment any child—
(a) who is under the age of 16 years, or
(b) who, if over the age of 16 years at the commencement of that year—
(i) is receiving full-time instruction at any university, college, school or other educational establishment, or
(ii) is permanently incapacitated by reason of mental or physical infirmity from maintaining himself and had become so permanently incapacitated before he had attained the age of 21 years or had become so permanently incapacitated after attaining the age of 21 years but while he had been in receipt of full-time instruction as aforesaid,
he shall, subject to the provisions of this section, be entitled in respect of each such child to the deduction specified in the next succeeding subsection.
(1A) The deduction referred to in subsection (1) shall be:
(a) in the case of a child to whom paragraph (a) of that subsection applies and who is shown by the claimant to have been over the age of 11 years at the commencement of the year of assessment, £150, and in the case of any other such child, £135:
Provided that all but one of the deductions to be given under subsections (1) and (2) in respect of children for whom the claimant is, or would on due application be, entitled throughout the year of assessment to a children's allowance shall be reduced by £10 each for the year 1969-70 and by £15 each for any subsequent year,
(b) in the case of a child to whom subsection (1) (b) (i) applies, £150,
(c) in the case of a child to whom subsection (1) (b) (ii) applies and who is wholly or partly maintained by the claimant at his own expense, £150 if the amount expended by the claimant in the year of assessment on the maintenance of the child is not less than £150, and, where the amount so expended is less than £150, that amount:
Provided that—
(i) any deduction under subsection (1) (b) (ii) shall be in substitution for, and not in addition to, any deduction to which the claimant might be entitled in respect of the child under section 142; and
(ii) a claimant shall not be entitled to more than one deduction under subsection (1) in respect of the same child.
(1B) In the preceding provisions of this section—
‘child’ includes a stepchild and an illegitimate child whose parents have married each other after his birth and a child in respect of whom an adoption order under the Adoption Act, 1952 , is in force:
‘children's allowance’ means an allowance under the Social Welfare (Children's Allowances) Acts, 1944 to 1966.”.
num: 11
paragraphs: — Section 142 (1) of the Income Tax Act, 1967 , is hereby amended by the substitution of “£256” for “£200” in both places where it occurs and by the substitution of “£196” for “£140”.
num: 12
paragraphs: —The following paragraph is substituted for paragraph (c) of section 157 of the Income Tax Act, 1967 :
“(c) all other interest, annuities, and dividends, and salaries and pensions payable by the Bank other than salaries and pensions payable to persons who commence to hold an office under or employment with the Bank on or after the date on which the business of the National Bank of Ireland Limited and the Hibernian Bank, Limited is transferred to the Bank; and”.
num: 13
paragraphs: — Section 193 of the Income Tax Act, 1967 , is hereby amended by the insertion of the following subsection after subsection (2) :
“(2A) For the purposes of paragraphs (c) and (f) of subsection (2), the benefit flowing from the aggregate of the deductions allowable under subsections (1) and (2) of section 141 to which the proviso to section 141 (1A) (a) applies shall be allocated as if each such deduction amounted to the said aggregate divided by the number of such deductions.”.
num: 14
paragraphs: — Section 246 of the Income Tax Act, 1967 , is hereby amended by the insertion after subsection (1) of the following subsection :
“(1A) (a) A shipping investment allowance shall not be made under subsection (1) in respect of any capital expenditure (whether incurred before or after the passing of the Finance Act, 1969) which is taken into account for the purposes of any grant made towards that expenditure by the Minister for Transport and Power under the Shipping Investment Grants Act, 1969 .
(b) Where a shipping investment allowance has been made under subsection (1) in respect of capital expenditure which is taken into account for the purposes of such a grant as is mentioned in paragraph (a), the shipping investment allowance shall be withdrawn and all such additional assessments and adjustments of assessments shall be made as may be necessary as a consequence of the withdrawal of a shipping investment allowance or the substitution therefor of an initial allowance under Chapter I of Part XV.”.
num: 15
paragraphs: — Section 374 (2) of the Income Tax Act, 1967 , is hereby amended by the substitution of “5th day of April, 1990” for “expiration of the period of twenty-five years from the 25th day of November, 1958”.
num: 16
paragraphs: — Section 402 of the Income Tax Act, 1967 , is hereby amended by—
(a) the substitution, except in relation to section 405 of that Act, of “fifteen” for “ten” in each place where it occurs, and
(b) the substitution of “1990-91” for “1980-81” in paragraph (a) of the proviso.
num: 17
paragraphs: — Section 523 of the Income Tax Act, 1967 , is hereby amended by the addition of the following subsection—
“(5) for the purposes of subparagraph (i) and (ii) of subsection (3) (b), the relief from sur-tax resulting from aggregate of the deductions allowable under subsections (1) and (2) of section 141 to which the proviso to subsection 141 (1A) (a) applies shall be divided as if each such deduction amounted to the said aggregate divided by the number of such deductions.”.
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paragraphs: —(1) In this section—
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paragraphs: —(1) In this section “farm land” and “occupation” have the same meanings as in section 18.
num: 20
paragraphs: —(1) In this section “exempt profits” means any profits or gains which by virtue of section 18 are not chargeable to tax under Schedule D.
(2) Where a dividend is paid in part out of exempt profits and in part out of other profits, sections 456 and 457 of the Income Tax Act, 1967 , shall apply as if the dividend consisted of two dividends respectively paid out of exempt profits and out of other profits.
(3) So much of any dividend as has been paid out of exempt profits shall not be regarded as income or profits for any purpose of the Income Tax Acts.
(4) Section 458 of the Income Tax Act, 1967 , shall apply and have effect in relation to every warrant, cheque or order drawn or made by a company (within the meaning of that section) for the payment of a dividend payable wholly or in part out of exempt profits as if the statement referred to in that section were required to show, in addition to the particulars required to be given apart from this section, either (as the case may require)—
(a) that the whole of the sum for which the warrant, cheque or order is drawn or made is a payment of a dividend out of exempt profits, or
(b) that a part of such sum is a payment out of exempt profits and that a part (the gross amount of which, before any deduction in respect of income tax, is separately stated) of such sum is a payment out of other profits.
num: 21
paragraphs: —Paragraph 1 of Part III of Schedule 6 to the Income Tax Act, 1967 , is hereby amended—
(a) by the insertion in subparagraph (2) after “stocks, shares, or rents” of “or the occupation of land”;
(b) by the deletion of the proviso to subparagraph (2); and
(c) by the deletion of subparagraph (3).
num: 22
paragraphs: —The following section is hereby substituted for section 81 of the Income Tax Act, 1967 :
“81.—(1) Without prejudice to any other provisions of the Income Tax Acts, the profits or gains arising from—
(a) any rent in respect of any premises, and
(b) any receipts in respect of any easement,
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paragraphs: —The following section is hereby substituted for section 82 of the Income Tax Act, 1967 :
“82.—(1) In this section—
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paragraphs: —(1) The following section is hereby substituted for section 89 of the Income Tax Act, 1967 :
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paragraphs: —(1) Section 200 of the Income Tax Act, 1967 , shall not apply to—
num: 26
paragraphs: —(1) Where by virtue of a contract for the sale of an estate or interest in premises there falls to be apportioned between the parties a receipt or outgoing in respect of the estate or interest which becomes due after the making of the contract but before the time at which the apportionment falls to be made, and a part of the receipt is therefore receivable by the vendor in trust for the purchaser or, as the case may be, a part of the outgoing is paid by the vendor as trustee for the purchaser, the purchaser shall be treated for the purposes of tax under Case V of Schedule D as if that part had become receivable or payable on his behalf immediately after the time at which the apportionment falls to be made.
num: 27
paragraphs: — Section 80 of the Income Tax Act, 1967 , is hereby amended—
(a) by the deletion in subsection (1) of the definitions of “long lease”, “short lease” and “unit of valuation”.
(b) by the substitution in subsection (1) of the following definition for the definition of “rent”:
“‘rent’ includes—
(i) any rentcharge, fee farm rent and any payment in the nature of rent, notwithstanding that the payment may relate partly to premises and partly to goods or services, and
(ii) any payment made by the lessee to defray the cost of work of maintenance of or repairs to the premises, not being work required by the lease to be carried out by the lessee;”,
(c) by the substitution in subsection (2) of “for the purposes of this Chapter” for “for the purpose of the definition of ‘long lease’ and ‘short lease’ contained in subsection (1)”, and
(d) by the substitution in subsection (3) of “section 16 (3) of the Finance (Miscellaneous Provisions) Act, 1968” for “section 96 (3)”.
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paragraphs: —The following section is hereby substituted for section 90 of the Income Tax Act, 1967 :
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paragraphs: —The following section is hereby substituted for section 93 of the Income Tax Act, 1967 :
“93.—(1) This section applies to the following payments:
num: 30
paragraphs: — Section 65 of the Income Tax Act, 1967 , is hereby amended—
(a) by the addition to subsection (1) of the following proviso—
num: 31
paragraphs: — Section 67 of the Income Tax Act, 1967 , is hereby amended—
(a) by the deletion in subsection (2) of “notwithstanding anything in section 65” and “, and situate outside the State”,
(b) by the substitution in subsections (2) and (3) for “one-third of the annual value” of “five-twelfths of the rateable valuation”, and
(c) by the insertion of the following subsection after subsection (3)—
“(3A) (a) Where, in the case of property valued under the Valuation Acts as a unit, a part is, and a part is not, premises, the rateable valuation of each part shall be arrived at by apportionment of the rateable valuation of the property.
(b) Any apportionment required by this subsection shall be made by the inspector according to the best of his knowledge and judgment.
(c) An apportionment made under paragraph (b) may be amended by the Appeal Commissioners or by the Circuit Court on the hearing, or the rehearing, of an appeal against an assessment made on the basis of the apportionment, but, on the hearing, or the rehearing, of any such appeal, a certificate of the Commissioner of Valuation tendered by either party to the appeal and stating, as regards property valued under the Valuation Acts as a unit, the amount of the rateable valuation of the property attributable to any part of the property, shall be evidence of the amount so attributable.”; and
(d) by the deletion of subsection (4).
num: 32
paragraphs: — Section 118 of the Income Tax Act, 1967 , is hereby amended in relation to tax for the year 1969-70 and subsequent years—
(a) by the deletion of subsections (3) and (5),
(b) by the deletion from subsection (4) of “and the asset is not premises”, and
(c) by the insertion at the end of subsection (4) of the following—
“In the case of an asset being premises, the annual value of the use of the asset shall be taken for the purposes of this subsection to be the rent which might reasonably be expected to be obtained on a letting from year to year if the tenant undertook to pay all usual tenant's rates, and if the landlord undertook to bear the costs of the repairs and insurance, and the other expenses, if any, necessary for maintaining the premises in a state to command that rent.”.
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paragraphs: —(1) Each enactment mentioned in column (2) of Part I of the Fourth Schedule to this Act is, in relation to tax for the year 1969-70 and subsequent years, hereby amended as specified in column (3) of that Part.
num: 34
paragraphs: —(1) In lieu of the duty of excise imposed by section 2 (1) of the Finance (No, 2) Act, 1968 , there shall be charged, levied and paid on all beer brewed within the State on or after the 8th day of May, 1969, a duty of excise at the rate of twenty-seven pounds, three shillings and nine pence for every thirty-six gallons of worts of a specific gravity of one thousand and fifty-five degrees.
(2) In lieu of the duty of customs imposed by section 2 (2) of the Finance (No. 2) Act, 1968 , there shall, as on and from the 8th day of May, 1969, be charged, levied and paid on all beer of any description imported into the State, a duty of customs at the rate of twenty-seven pounds, four shillings and three pence for every thirty-six gallons of beer of which the worts were before fermentation of a specific gravity of one thousand and fifty-five degrees.
(3) There shall be allowed and paid on the exportation as merchandise or the shipment for use as stores of beer on which it is shown, to the satisfaction of the Revenue Commissioners, that the duty imposed by subsection (1) or subsection (2) of this section has been paid, a drawback calculated according to the original specific gravity of the beer, at the rate of twenty-seven pounds and four shillings on every thirty-six gallons of beer of which the original specific gravity was one thousand and fifty-five degrees.
(4) Where, in the case of beer which is chargeable with the duty imposed by subsection (1) or subsection (2) of this section or in the case of beer on which drawback under subsection (3) of this section is payable, the specific gravity of the beer is not one thousand and fifty-five degrees, the duty or drawback shall be varied proportionately.
(5) Section 24 of the Finance Act, 1933 , shall not apply or have effect in relation to the duty of customs imposed by this section.
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paragraphs: —(1) The Finance Act, 1920 , shall, as on and from the 8th day of May, 1969, be amended by the substitution in Part I of the First Schedule thereto of the matter set out in Part I of the First Schedule to this Act for the matter inserted in the said Part of the said First Schedule by section 3 of the Finance (No. 2) Act, 1968 , and section 3 (1) of the said Finance Act, 1920 , shall have effect accordingly.
(2) (a) This subsection applies to spirits known as whiskey which at importation are shown to the satisfaction of the Revenue Commissioners to have been wholly manufactured in Northern Ireland and to have been bottled and consigned by the distiller.
(b) The duties of customs to which subsection (1) of this section relates shall, as on and from the 8th day of May, 1969, be charged, levied and paid on spirits to which this subsection applies at the rate of fourteen pounds and two pence the gallon (computed at proof) in lieu of the rate chargeable under subsection (1) of this section.
(c) Section 3 (2) of the Finance (No. 2) Act, 1968 , is hereby repealed as on and from the 8th day of May, 1969.
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paragraphs: —(1) In this section—
“the Act of 1935” means the Finance Act, 1935 ;
“the Act of 1968” means the Finance Act, 1968 .
(2) The duty of customs imposed by section 1 of the Finance (Customs Duties) (No. 4) Act, 1931 , shall, in respect of mineral hydrocarbon light oil chargeable with that duty, be charged, levied and paid as on and from the 8th day of May, 1969, at the rate of 4s. 2.82d. the gallon in lieu of the rate specified in section 20 (2) of the Act of 1968.
(3) The duty of excise imposed by section 1 of the Finance (Miscellaneous Provisions) Act, 1935 , shall, in respect of mineral hydrocarbon light oil chargeable with that duty which is sent out, on or for sale or otherwise, from the premises of the manufacturer thereof on or after the 8th day of May, 1969, or is used by such manufacturer on or after that date for any purpose other than the manufacture or production of mineral hydrocarbon oil, be charged, levied and paid at the rate of 4s. 1.82d. the gallon in lieu of the rate specified in section 20 (3) of the Act of 1968.
(4) The duty of customs imposed by section 21 of the Act of 1935 shall, in respect of hydrocarbon oil chargeable with that duty, be charged, levied and paid as on and from the 8th day of May, 1969, at the rate of 3s. 7.57d. the gallon in lieu of the rate specified in section 20 (4) of the Act of 1968.
(5) As on and from the 8th day of May, 1969, the rate of any rebate allowed under section 21 (2) of the Act of 1935 shall—
(a) in respect of hydrocarbon oil on which such rebate is allowable and on which the duty of customs mentioned in subsection (4) of this section was paid at the rate of 3s. 7.57d. the gallon, be 3s. 7.57d. the gallon, and
(b) in respect of hydrocarbon oil on which such rebate is allowable and on which the duty of customs mentioned in subsection (4) of this section was, by virtue of paragraph 6 of the Imposition of Duties (No. 84) (Hydrocarbon Oils) (Customs Duties) Order, 1959, paid at the rate of 3s. 6.57d. the gallon, be 3s. 6.57d. the gallon,
in lieu of the rate allowable immediately before the 8th day of May, 1969, by virtue of section 20 (5) of the Act of 1968.
(6) The duty of excise imposed by section 21 of the Act of 1935 shall, in respect of hydrocarbon oil chargeable with that duty which is sent out, on or for sale or otherwise, from the premises of the manufacturer thereof on or after the 8th day of May, 1969, or is used by such manufacturer on or after that date for any purpose other than the manufacture or production of hydrocarbon oil, be charged, levied and paid at the rate of 3s. 6.57d. the gallon in lieu of the rate specified in section 20 (6) of the Act of 1968.
(7) As on and from the 8th day of May, 1969, the rate of any rebate allowed under section 21 (4) of the Act of 1935, in respect of hydrocarbon oil on which such rebate is allowable and on which the excise duty mentioned in subsection (6) of this section was paid at the rate of 3s. 6.57d. the gallon, shall be 3s. 6.57d. the gallon in lieu of the rate allowable immediately before the 8th day of May, 1969, by virtue of section 20 (7) of the Act of 1968.
(8) As on and from the 8th day of May, 1969, the rate of any repayment allowed under section 10 (8) of the Finance Act, 1957 , in respect of hydrocarbon oil on which such repayment is allowable and on which either—
(a) the excise duty mentioned in subsection (6) of this section was paid at the rate of 3s. 6.57d. the gallon, or
(b) the customs duty mentioned in subsection (4) of this section was paid at the rate of 3s. 6.57d. the gallon or 3s. 7.57d. the gallon,
shall be 1s. 11d. the gallon in lieu of the rate allowable immediately before the 8th day of May, 1969.
num: 37
paragraphs: —(1) Subject to subsections (2) and (3) of this section, the duty of customs on tobacco imposed by section 20 of the Finance Act, 1932 , shall, as on and from the 8th day of May, 1969, be charged, levied and paid at the several rates specified in Part I of the Second Schedule to this Act in lieu of the several rates specified in Parts I and II of the Second Schedule to the Finance (No. 2) Act, 1968 .
(2) The provisions of section 8 of the Finance Act, 1919 , shall apply to the duty mentioned in subsection (1) of this section—
(a) with the substitution of “the area of application of the Acts of the Oireachtas” for “Great Britain and Ireland”, and
num: 38
paragraphs: —(1) Subject to the provisions of subsection (2) of this section, there shall be charged, levied and paid on all stocks of tobacco of every description which at five o'clock in the afternoon of the 7th day of May, 1969, are in the ownership or possession of a licensed manufacturer of tobacco and in any place in the State other than a bonded warehouse, a duty of excise, payable by the manufacturer, at the following rate, that is to say:
(a) so far as the stocks consist of unmanufactured tobacco, three shillings and seven pence for every pound weight of the stocks, and
(b) so far as the stocks consist of tobacco (including snuff) other than unmanufactured tobacco, three shillings and seven pence for every pound weight of unmanufactured tobacco from which, in the opinion of the Revenue Commissioners, the stocks were derived.
(2) The duty imposed by subsection (1) of this section shall not be chargeable on any manufactured tobacco (including cigarettes, cigars and snuff other than offal snuff) as to which it is shown to the satisfaction of the Revenue Commissioners that it was at five o'clock in the afternoon of the 7th day of May, 1969, fully prepared for sale by retail and that either—
(i) it was not the product of any operation carried out by any manufacturer in whose ownership or possession it was at that time; or
(ii) it was at that time held as retail stock in premises used for selling tobacco by retail; or
(iii) it was at that time in transit from seller to buyer under a contract of sale:
Provided that no tobacco shall be deemed for the purposes of this subsection to have been fully prepared for sale by retail if, according to the ordinary course of business of the person in whose ownership or possession it was or to whom it was in transit, it had still to be subjected to some further process (other than packing) before being sold by him.
(3) Every licensed manufacturer of tobacco shall not later than the 14th day of May, 1969, make a return to the Revenue Commissioners in a form approved by them giving such information as they may thereby require and, in particular, showing the quantities by weight of tobacco of every description in his ownership or possession at five o'clock in the afternoon of the 7th day of May, 1969, in any place in the State other than a bonded warehouse.
(4) Every licensed manufacturer of tobacco shall—
(a) produce, if so required, to any officer of Customs and Excise the trade books and all accounts and documents belonging to or in the possession of such manufacturer which are necessary for verifying the return made in pursuance of subsection (3) of this section, and
(b) render all reasonable assistance to such officer in the taking of an account of the tobacco which was in the ownership or possession of such manufacturer at five o'clock in the afternoon of the 7th day of May, 1969.
(5) Every licensed manufacturer of tobacco shall, immediately upon making the return required by subsection (3) of this section or on the 14th day of May, 1969, whichever is the earlier, pay to the Revenue Commissioners the full amount of the duty imposed by subsection (1) of this section on any tobacco which was in his ownership or possession at five o'clock in the afternoon of the 7th day of May, 1969, and was chargeable with the said duty, and the Revenue Commissioners may, if they think fit, defer the payment of the duty to a date not later than the 1st day of November, 1969, upon the manufacturer giving security by bond or otherwise to their satisfaction that such duty will be paid.
(6) Every manufacturer required by subsection (3) of this section to make such return as is mentioned in that subsection who either fails to make such return or makes a return which is incomplete, false or misleading in any material respect or fails or refuses to do anything which he is required by subsection (4) of this section to do shall be guilty of an offence under the statutes relating to duties of excise and shall for every such offence incur an excise penalty of fifty pounds, and all tobacco in relation to which such offence was committed shall be forfeited.
(7) Where drawback is payable in respect of tobacco on which the excise duty imposed by subsection (1) of this section has been paid, such drawback shall, to the extent of the duty paid in pursuance of the said subsection (1) as determined by the Revenue Commissioners, be a drawback of excise.
num: 39
paragraphs: —(1) Subject to subsections (2) and (3) of this section, there shall be charged, levied and paid, as on and from the 8th day of May, 1969, a duty of customs on all wine imported into the State at the several rates specified in Part I of the Third Schedule to this Act in lieu of the several rates specified in Parts I and II of the Third Schedule to the Finance Act, 1968 .
(2) The provisions of section 8 of the Finance Act, 1919 , shall apply to the duty imposed by subsection (1) of this section—
(a) with the substitution of “the area of application of the Acts of the Oireachtas” for “Great Britain and Ireland”, and
num: 40
paragraphs: —(1) The provisions of the Customs Acts and instruments made thereunder and of the Statutes which relate to the duties of excise and instruments made thereunder shall, subject to any modifications made therein by regulations under subsection (2) of this section, apply to hovercraft as if references in those provisions to ships, boats and vessels included references to hovercraft.
(2) The Minister for Finance may by regulations make such provision as appears to him to be requisite or expedient for all or any of the following purposes:—
(a) modifying any of the provisions referred to in subsection (1) of this section in relation to hovercraft and to persons, goods, mails, stores and baggage carried therein, disembarked or unladen therefrom or embarked or laden thereon;
(b) applying any of the provisions referred to in subsection (1) of this section, subject to such modifications as he considers appropriate and specifies in the regulations, in relation to hoverports.
(3) In this section—
“hovercraft” means a vehicle which is designed to be supported when in motion on a cushion of air; and
“hoverport” means any place which is designed to be used for the arrival and departure of hovercraft.
num: 41
paragraphs: — Section 95 of the Customs Consolidation Act, 1876 , section 17 of the Customs and Inland Revenue Act, 1881 , and section 28 of the Finance Act, 1929 , shall apply in relation to Irish wine (within the meaning of section 15 of the Finance Act, 1966 ) as they apply in relation to wine imported into the State.
num: 42
paragraphs: —On and after the 6th day of July, 1969, the excise duty chargeable on a licence to be taken out by a manufacturer of tobacco or snuff shall be charged, levied and paid at the rate of five pounds on every such licence in lieu of the rates chargeable by virtue of section 2 of the Excise Licences Act, 1825 , and section 1 of the Excise Act, 1840 .
num: 43
paragraphs: — Section 6 (1) of the Finance (New Duties) Act, 1916 , is hereby amended by the substitution of “two hundred pounds” for “fifty pounds”.
num: 44
paragraphs: — Section 41 of the Finance Act, 1932 , is hereby amended by the insertion of “flaked,” before “malted”.
num: 45
paragraphs: —(1) In this section—
“benefit” means all property and all interests in property passing or accruing to a dependant on the death of the deceased in respect of which estate duty is payable;
“child” means a child (including a child adopted under the provisions of the Adoption Acts, 1952 and 1964) of the deceased who was living at his death and who had not then attained the age of sixteen years or who was then receiving full time instruction at any university, college, school or other educational establishment;
“deceased” means a person dying domiciled in the State,
“dependant” means the widow or child;
“widow” except in subsection (4) of this section, means the widow of the deceased.
(2) Where the widow is the only dependant entitled to a benefit on the death of the deceased, any estate duty payable in respect of such benefit shall be abated by the sum of £1,000 together with a sum of £500 in respect of each child.
(3) Where there are two or more dependants one of whom is the widow and either a child is the only dependant entitled to a benefit on the death of the deceased or more than one dependant are entitled to benefits thereon—
(a) any estate duty payable in respect of a child's benefit shall be abated by the sum of £500;
(b) if the widow is entitled to a benefit, any estate duty payable in respect thereof shall be abated by the sum of £1,000 together with—
(i) a sum of £500 for each child not entitled to a benefit or entitled only to a benefit not affected by a claim for estate duty, and
(ii) for each child entitled to a benefit which is affected by a claim for duty to an extent less than £500, a sum equal to the difference between the amount by which the benefit is so affected and £500.
(4) Where the deceased was, at death, a widower or widow, any estate duty payable in respect of a benefit shall be abated by the sum of £500.
(5) (a) Subsections (2) to (4) of this section shall have effect subject to the proviso that—
(i) in a case in which the amount of a benefit is not affected by a liability to estate duty arising in connection with the death of the deceased, no abatement shall be made under those subsections in respect of that benefit;
(ii) in a case in which the amount of a benefit is affected by such a liability and the extent to which it is so affected is of an amount which is less than such abatement under those subsections in respect of the benefit as would be appropriate apart from this subparagraph, the abatement under those subsections in respect of the benefit shall be reduced to that amount.
(b) This subsection shall not operate to reduce the amount by which the estate duty payable in respect of a widow's benefit is abated by reason of the fact that a child's benefit is either not affected by a claim for duty or is affected to an extent less than £500.
(6) Subsections (2) to (5) of this section shall have effect subject to the proviso that they shall not apply where the net value of all property passing or deemed to pass on the death of the deceased in respect of which estate duty is payable exceeds £100,000.
(7) In a case in which but for the fact that the estate exceeds £100,000 there would be an abatement of estate duty, this section shall apply with the limitation that the total abatement which would be appropriate apart from paragraph (b) of subsection (5) of this section if the estate did not exceed £100,000 shall be diminished by the amount by which the estate exceeds £100,000 and the said paragraph (b) shall have effect accordingly.
(8) This section shall apply in relation to deaths occurring on or after the 1st day of March, 1968, and appropriate repayments shall be made accordingly.
num: 46
paragraphs: —(1) Section 61 (1) of the Finance (1909-10) Act, 1910 , is hereby amended by the substitution of “£2,000” for “£1,000” (inserted by the Finance Act, 1951 ).
(2) This section shall have effect only in relation to persons dying after the passing of this Act.
num: 47
paragraphs: —(1) Section 13 of the Finance (No. 2) Act, 1947 , is hereby amended as follows:
(a) by the substitution for subsection (1) of the following subsection—
num: 48
paragraphs: —(1) Section 24 of the Finance Act, 1949 , is hereby amended as follows:
(a) by the substitution for subsection (1) of the following subsection—
num: 49
paragraphs: —(1) Subject to subsection (2) of this section, an instrument giving effect to the purchase of a house upon the erection thereof shall be exempt from all stamp duties.
(2) Subsection (1) of this section shall have effect in relation to an instrument if, but only if, it is shown to the satisfaction of the Revenue Commissioners that—
(a) a grant under section 2 or 7 of the Housing (Loans and Grants) Act, 1962 , has been, or will, by virtue of section 6 (2) of the Housing Act, 1966 , be made in respect of the house to which the instrument relates, or
(b) a grant under section 15 , 16 , 17 , 18 or 20 of the Housing Act, 1966 , has been or will be made in respect of the house aforesaid.
(3) Stamp duties shall not be chargeable in the case of a conveyance, transfer or lease by a local authority under the provisions of the Housing Act, 1966 , or of a conveyance, transfer or lease by a society registered under the Industrial and Provident Societies Acts, 1893 to 1966, and made, in accordance with a scheme for the provision of houses for its members, to a member or to such member and the spouse of the member.
(4) Where—
num: 50
paragraphs: —(1) It shall be the duty of every person who makes one or more contracts for the construction, alteration or enlargement of a building the greater part of which is intended for use as offices to deliver or procure the delivery to the Revenue Commissioners of the instrument or instruments containing every such contract.
(2) Every such instrument shall be chargeable with a stamp duty at the rate of ten per cent, of the amount or value of the consideration for the performance of the contract or contracts to which it relates: Provided that an instrument shall not be chargeable with duty to the extent to which it is shown to the satisfaction of the Revenue Commissioners that the amount or value of the consideration for the performance of the contract or contracts which it contains has formed part of the amount or value of the consideration for the performance of a contract in respect of which duty has been paid under this subsection.
(3) If at the expiration of ninety days after the making of a contract of a kind referred to in subsection (1) of this section the instrument containing it is not duly stamped, all the parties to the contract, as well as being liable for the duty unpaid, shall jointly and severally be liable to a penalty equal to twice the said duty, and the penalty shall be recoverable in the same manner as if it were part of the duty.
(4) Where there is variation in the amount or value of the consideration for the performance of a contract of a kind referred to in subsection (1) of this section, the following provisions shall have effect:
(a) where the amount or value of the consideration is increased, the instrument containing the contract shall, notwithstanding that it may have been stamped already and irrespective of whether or not it has been stamped with a particular stamp denoting that it is duly stamped, again become chargeable with stamp duty,
(b) duty shall be chargeable at the rate of ten per cent, of the increased consideration, due allowance being made for the amount of any duty already paid,
(c) if at the expiration of ninety days from the date of the increase in the consideration the instrument containing the contract is not stamped in accordance with the foregoing subparagraph, all the parties to the contract, as well as being liable for the duty unpaid, shall jointly and severally be liable to a penalty equal to twice the said duty, and the penalty shall be recoverable in the same manner as if it were part of the duty,
(d) where the amount or value of the consideration is decreased, the Revenue Commissioners may repay the difference between the amount of duty actually charged on the instrument containing the contract and the amount chargeable thereon by reference to the decreased consideration:
Provided that the application for repayment is made within two years after the date of the decrease in the consideration.
(5) Where a building the greater part of which is intended for use as offices is constructed, altered or enlarged and—
(a) the contract or any of the contracts for the construction, alteration or enlargement is not contained in any instrument or instruments,
(b) the construction, alteration or enlargement or part of the construction, alteration or enlargement is not the subject of a contact, or
(c) the Revenue Commissioners are of opinion that there existed an arrangement or arrangements in relation to the construction, alteration or enlargement the main purpose or one of the main purposes of which was the avoidance or reduction of liability to stamp duty under this section, the following provisions shall have effect—
(i) the Revenue Commissioners may by notice in writing require the owner of the building to deliver to them, within thirty days after the date of the requisition, the instrument containing the notification or a copy of such instrument (in this section referred to as the notification) given pursuant to the Local Government (Planning and Development) Act, 1963 (Permission) Regulations, 1964, of the grant under the Local Government (Planning and Development) Act, 1963 , by the relevant planning authority, within the meaning of that Act, of permission or approval in relation to the construction, alteration or enlargement, together with a statement of the total outlay expended or to be expended on the construction, alteration or enlargement,
(ii) the said notification shall—
(I) be charged with the amount of stamp duty with which it would be charged, and
(II) be subject to the provisions of this section to which it would be subject,
if it were a contract for the construction, alteration or enlargement aforesaid and the amount or value of the consideration for its performance were the total outlay expended or to be expended on the construction, alteration or enlargement aforesaid.
(6) An instrument or notification of a kind referred to in the foregoing provisions of this section shall not be deemed to be duly stamped unless the Revenue Commissioners have expressed their opinion thereon in accordance with section 12 of the Stamp Act, 1891, and the instrument is stamped with a particular stamp denoting that it is duly stamped.
(7) The foregoing provisions of this section shall not apply—
(a) in any case where the amount or the aggregate amountof the outlay expended on the construction, alteration or enlargement of a building does not exceed £50,000;
(b) in relation to the construction, alteration or enlargementof a building owned by a Minister of State, the Commissioners of Public Works in Ireland, or a local authority for the purposes of section 2 of the Local Government Act, 1941 ;
(c) in relation to the construction, alteration or enlargement of a building in an area which, at the date of the commencement of the construction, alteration or enlargement is an undeveloped area within the meaning of the Undeveloped Areas Act, 1952 .
(8) If a person fails to deliver to the Revenue Commissioners an instrument, notification or statement which he is required by virtue of this section to deliver to them, the delivery of the instrument, notification or statement by the person, or, in the case of a body corporate, by the secretary or any director thereof, may be enforced by the Revenue Commissioners under section 47 of the Succession Duty Act, 1853 , in all respects as if the instrument, notification or statement, as the case may be, were such account as is mentioned in that section and the failure to deliver the instrument, notification or statement, as the case may be, were such default as is mentioned in that section.
(9) In determining for the purposes of this section the amount or value of the consideration for the performance of a contract or contracts for the construction, alteration or enlargement of a building or the total outlay expended or to be expended on such construction, alteration or enlargement a car park, and any other ancillary works, for and adjacent to the building shall be deemed to form part of the building.
(10) This section shall come into operation on the 1st day of August, 1969, or the date of the passing of this Act, whichever is the later.
num: 51
paragraphs: —Where the amount of a shipping investment allowance is deducted in accordance with section 22 of the Finance Act, 1957 , in computing the profits of a company for the purposes of corporation profits tax, and the shipping investment allowance is withdrawn for the purposes of income tax in accordance with subsection (1A) (b) of section 246 of the Income Tax Act, 1967 , the shipping investment allowance shall be withdrawn for the purposes of corporation profits tax and all such additional corporation profits tax assessments and adjustments of corporation profits tax assessments shall be made as may be necessary for or in consequence of the withdrawal of a shipping investment allowance or the substitution therefor of an initial allowance under section 69 of the Finance Act, 1959 .
num: 52
paragraphs: —The definition of “accounting period” in section 10 of the Finance (Miscellaneous Provisions) Act, 1956 , is, except in relation to section 13 (10) of that Act, hereby amended—
(a) by the substitution of “fifteen” for “ten”, and
(b) by the substitution of “6th day of April, 1975” for “6th day of April, 1970”.
num: 53
paragraphs: — Section 3 (2) of the Finance (Miscellaneous Provisions) Act, 1958 , is hereby amended by the substitution of “5th day of April, 1990” for “expiration of the period of twenty-five years from the passing of this Act”.
num: 54
paragraphs: —(1) Any reference in section 69 of the Finance Act, 1959 , to an allowance under section 241 of the Income Tax Act, 1967 , shall, in a case in which section 4 (2) of this Act has had effect, be construed as a reference to the allowance as increased under that subsection.
(2) Where the said section 4 (2) is deemed not to have applied to any machinery or plant for any year of assessment, there shall be made for the purposes of corporation profits tax all such additional assessments and adjustments of assessments as may be appropriate.
num: 55
paragraphs: —(1) Section 46 of the Finance Act, 1963 , is hereby amended by the insertion of the following definition after the definition of “hotel”
“‘moneys received’ includes—
(a) money lodged or credited to the account of a person in any bank, savings bank, building society, hire purchase finance concern or similar financial concern, and
(b) money, other than money referred to in paragraph (a) of this definition, which, under an agreement, other than an agreement providing for discount or a price adjustment made in the ordinary course of business, or an arrangement with creditors, has ceased to be due to a person, and money lodged or credited to the account of a person as aforesaid shall be deemed to have been received by the person on the date of the making of the lodgment or credit and money which has ceased to be due to a person as aforesaid shall be deemed to have been received by the person on the date of the cesser.”.
(2) This section shall have, and be deemed to have had, effect as on and from the 8th day of May, 1969.
num: 56
paragraphs: —(1) Section 64 of the Finance Act, 1963 , is hereby amended—
(a) by the substitution of “sections 48 and 50 to 63” for “sections 48 to 63” in subsection (1), and
(b) by the substitution of the following subsection for subsection (2):
“(2) Tax as aforesaid shall not be charged on—
(a) an article the sale of which for delivery within the State would, apart from any exemption in relation to sales of such articles to or by persons of a particular class, be an exempted activity for the purposes of section 48 (2) of this Act,
num: 57
paragraphs: —(1) The following subsection shall be substituted for subsection (1) of section 7 of the Finance (No. 2) Act, 1966 :
“(1) Wholesale tax shall be fifteen per cent, of that part of the taxable turnover, as defined by this section, of the accountable person which relates to the sale of any goods of a kind specified in the Table to this subsection and shall be ten per cent, of the remainder of the taxable turnover as so defined, and the amount of tax chargeable during every month shall be paid after the expiration of the month in accordance with regulations.
TABLE
(Wholesale Tax)
(1) Motor vehicles designed and constructed for the conveyance of persons by road including sports motor vehicles, estate cars, station wagons, motor cycles, motor scooters, mopeds and auto cycles, but not including vehicles designed and constructed for the carriage of more than sixteen persons (inclusive of the driver), invalid carriages and other vehicles of a type designed for use by invalids or infirm persons.
(2) Caravans, including mobile homes.
(3) Ships, boats or other vessels designed and constructed for the conveyance of passengers and not exceeding one hundred tons gross; and sports and pleasure craft of all descriptions including yachts, cabin cruisers, dinghies, canoes, skiffs and racing boats.
(4) Radio receiving sets and television receiving sets of the domestic or portable type including sets suitable for use in road vehicles.
(5) Gramophones, radiogramophones, record players and electric gramophone record reproducers.
(6) Gramophone records.”
(2) The following subsection shall be substituted for subsection (1) of section 11 of the Finance (No. 2) Act, 1966 :
“(1) Sections 3 and 5 to 10 of this Act shall not apply to wholesale tax provided for by section 2 (b) of this Act and that tax shall, subject to subsection (2) of this section, be charged on every article which is of a kind specified in the Table to section 7 (1) of this Act and is imported on or after the 1st day of June, 1969, at the rate of fifteen per cent, of the value of the article and on every other article so imported at the rate of ten per cent, of the value of the article.”
(3) This section shall have, and be deemed to have had, effect as on and from the 1st day of June, 1969.
num: 58
paragraphs: —Where the whole or part of the taxable turnover of an accountable person consists of moneys paid under a contract entered into on or after the 1st day of October, 1966, and before the 1st day of June, 1969, the accountable person may, in the absence of agreement to the contrary, recover as an addition to the payment specified in the contract a sum equal to any additional amount payable by him in respect of the moneys on account of the increase in the rate of wholesale tax effected by section 57 of this Act.
num: 59
paragraphs: —(1) Section 6 of the Finance (No. 2) Act, 1966 , is hereby amended by the addition of the following subsections:
“(2) Where taxable goods are applied or appropriated by way of hire to a person to whom there has been allotted a registration number under section 4 of this Act and who has, in accordance with section 5 of this Act, given to the person from whom the goods are hired a statement in writing quoting that registration number—
(a) the provisions of subsection (1) of this section shall not apply in relation to the application or appropriation, and
(b) the application or appropriation shall be deemed to be a sale of the goods by wholesale in the course of business and the moneys received in respect of the hire shall be deemed to be moneys received from a person registered under the said section 4 in respect of goods sold to him:
Provided that, if the person to whom the goods are hired, by notice in writing given to the person from whom the goods are hired, withdraws the statement aforesaid, then, on and from the date of the withdrawal, paragraphs (a) and (b) of this subsection shall cease to apply and the provisions of the said subsection (1) shall apply as if the person from whom the goods are hired had on that date applied or appropriated the goods otherwise than—
(i) in the case of a manufacturer—as materials or as stock in trade, or
(ii) in any other case—as stock in trade.
(3) Where a person to whom there has been allotted a registration number under section 4 of this Act—
(a) has, in accordance with section 5 of this Act, given to a person registered under the said section 4 from whom he hires taxable goods a statement in writing quoting that registration number, and
(b) uses those goods otherwise than directly in a production process in the course of making goods,
then, so long as the person to whom the goods are hired does not, by notice in writing given to the person from whom the goods are hired, withdraw the statement aforesaid, the provisions of the said subsection (1) shall apply to him as if—
(i) in accordance with the said section 5 he had purchased the goods in circumstances in which wholesale tax was not chargeable,
(ii) on the occasion of each payment for hire of the goods relating to a period during which he had used the goods otherwise than in a production process in the course of making goods he had applied or appropriated the goods otherwise than—
(I) in the case of a manufacturer—as materials or as stock in trade, or
(II) in any other case—as stock in trade, and
(iii) each such payment for hire was a payment in respect of a sale of goods so applied or appropriated at the wholesale price current at the time of the payment.”
(2) Subsection (1) of this section shall come into operation on the first day of the month immediately following that in which this Act is passed.
num: 60
paragraphs: —(1) Section 11 of the Finance (No. 2) Act, 1966 , is hereby amended by the substitution of the following subsection for subsection (2):
“(2) Tax as aforesaid shall not be charged on—
(a) an article the sale of which for delivery within the State would, apart from any exemption in relation to sales of such articles to or by persons of a particular class, or by persons other than persons of a particular class, be an exempted activity for the purposes of section 3 (5) of this Act,
(b) an article imported—
(i) by a manufacturer registered under section 4 of this Act and intended for use as materials or as stock for his business, or
(ii) by any other person registered under that section and intended for use as stock for his business,
(c) an article (other than a motor vehicle designed for the conveyance of persons by road or hydrocarbon oil for road transport vehicles) imported by a body corporate which establishes to the satisfaction of the Revenue Commissioners that its main activity consists in the transport of passengers or goods outside the State and that the article is for use in its business,
(d) an article imported by the Commissioners of Irish Lights for use in the maintenance of lightships or lighthouses.”.
(2) Subsection (1) of this section shall come into operation in respect of articles imported on or after the first day of the month immediately following that in which this Act is passed and, in relation to such articles, the tax provided for by section 2 (b) of the Finance (No. 2) Act, 1966 , shall be charged, levied and paid as if no order had been made under section 11 of the said Act.
num: 61
paragraphs: —(1) In this section—
“the principal section” means section 22 of the Finance Act, 1950 ;
“the 1968 amending section” means section 33 of the Finance Act, 1968 ;
“the nineteenth additional annuity” means the sum charged on the Central Fund under subsection (4) of this section;
“the Minister”, “the Account” and “capital services” have the same meanings respectively as they have in the principal section.
(2) Subsection (4) of the 1968 amending section shall, in relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of March, 1970, have effect with the substitution of “£2,636,326” for “£2,453,200”.
(3) Subsection (6) of the 1968 amending section shall have effect with the substitution of “£1,672,492” for “£1,586,900”.
(4) A sum of £3,000,128 to redeem borrowings, and interest thereon, in respect of capital services shall be charged annually on the Central Fund or the growing produce thereof in the thirty successive financial years commencing with the financial year ending on the 31st day of March, 1970.
(5) The nineteenth additional annuity shall be paid into the Account in such manner and at such times in the relevant financial year as the Minister may determine.
(6) Any amount of the nineteenth additional annuity, not exceeding £1,940,575 in any financial year, may be applied towards defraying the interest on the public debt.
(7) The balance of the nineteenth additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.
num: 62
paragraphs: — Section 4 (1) of the Provisional Collection of Taxes Act, 1927 , is hereby amended by the deletion of paragraph (f).
num: 63
paragraphs: —(1) The excess of the amount received on the redemption of a unit of securities to which this section applies over the amount paid for the unit on its issue shall, save where the excess falls to be taken into account in computing for the purposes of taxation the profits of a trade, be exempt from income tax (including sur-tax) and corporation profits tax.
(2) The securities to which this section applies are securities created and issued by the Minister for Finance under the Central Fund (Permanent Provisions) Act, 1965 , or any other powers in that behalf him enabling, and any stock, debenture, debenture stock, certificate of charge, or other security, which is issued with the approval of the Minister for Finance given under any Act of the Oireachtas and in respect of which the payment of interest and the repayment of capital is guaranteed by the Minister for Finance under that Act, but excluding securities to which section 4 of the Central Fund Act, 1965 , section 465 of the Income Tax Act, 1967 , or section 8 of the Finance (No. 2) Act, 1968 , applies.
num: 64
paragraphs: —(1) Section 255 (1) of the Income Tax Act, 1967 , is hereby amended by the insertion after paragraph (d) of “and, in particular, the said expression includes any building or structure provided by the person carrying on such a trade or undertaking for the recreation or welfare of workers employed in that trade or undertaking and in use for that purpose”.
(2) Section 255 of the Income Tax Act, 1967 , is hereby amended—
(a) by the insertion after “holiday camp” in the proviso to subsection (1) of “or a building or structure in use as a holiday cottage and comprised in premises registered in any register of holiday cottages established by Bord FÃ¡ilte Ãireann under the provisions of any Act of the Oireachtas passed after the passing of the Finance Act, 1969”, and
(b) by the insertion in subsection (4) (a) after “dwelling-house” in each place where it occurs of “(other than a holiday cottage referred to in the proviso to subsection (1))”.
(3) Where a building or structure which falls to be regarded as an industrial building or structure by virtue of subsection (2) ceases to be comprised in premises registered in a register referred to in the said section 255 in such circumstances that section 265 of the Income Tax Act, 1967 , does not apply, the relevant interest in the building or structure shall, for the purposes of Part XVI of the Income Tax Act, 1967 , other than section 264 (3), be deemed upon such cesser to have been sold while the building or structure was an industrial building or structure and the net proceeds of the sale shall be deemed, for those purposes, to be an amount equal to the capital expenditure incurred on the construction of the building or structure.
(4) Where a balancing charge is made under the said section 265 by virtue of subsection (3) and the relevant interest in the building or structure is not subsequently sold by the person on whom the charge is made while the building or structure is not an industrial building or structure, that person shall, if the building or structure again becomes comprised in a premises registered in a register referred to in the said section 255, be treated for the purposes of Part XVI of the Income Tax Act, 1967 , as if, at the time of the cesser referred to in subsection (3), he were the buyer of the relevant interest deemed under that subsection to have been sold.
(5) (a) Subsection (1) shall have effect in relation to capital expenditure incurred on or after the 6th day of April, 1969.
(b) Subsections (2) to (4) shall have effect in relation to capital expenditure incurred on or after the 1st day of July, 1968.
num: 65
paragraphs: —(1) Each enactment mentioned in column (2) of Part I of the Fifth Schedule to this Act is, in relation to tax for the year 1969-70 and subsequent years, hereby repealed to the extent specified in column (3) of that Part.
num: 66
paragraphs: —All taxes and duties imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.
num: 67
paragraphs: —(1) This Act may be cited as the Finance Act, 1969.
(2) Parts I and II and (so far as relating to income tax, including sur-tax) section 63 of this Act shall be construed together with the Income Tax Acts.
(3) Part III of this Act, so far as it relates to customs, shall be construed together with the Customs Acts and, so far as it relates to duties of excise, shall be construed together with the Statutes which relate to the duties of excise and the management of those duties.
(4) Part V of this Act shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act.
(5) Part VI and (so far as relating to corporation profits tax) section 63 of this Act shall be construed together with Part V of the Finance Act, 1920 , and the enactments amending or extending that Part.
(6) Parts VII and VIII shall be construed together with Part VI of the Finance Act, 1963 , the Finance (No. 2) Act, 1966 , and the enactments amending or extending that Part and the last mentioned Act.
(7) Parts I and II and section 63 of this Act shall, save as is otherwise expressly provided therein, be deemed to have come into force and shall take effect as on and from the 6th day of April, 1969.
(8) Any reference in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as a reference to that enactment as amended by or under any other enactment, including this Act.