Finance act, 1975

• Enactment Date: 14 May 1975
• Act Number: 6

Number 6 of 1975
FINANCE ACT, 1975
ARRANGEMENT OF SECTIONS
PART I
Income Tax, Sur-tax and Corporation Profits Tax
Chapter I
Income Tax
Section 1. Amendment of section 142 of Income Tax Act, 1967. 2. Amendment of section 143 of Income Tax Act, 1967. 3. Amendment of section 251 of Income Tax Act, 1967. 4. Amendment of section 254 of Income Tax Act, 1967. 5. Amendment of section 264 of Income Tax Act, 1967. 6. Amendment of section 22 of Finance Act, 1971. 7. Amendment of section 26 of Finance Act, 1971. 8. Amendment of section 8 of Finance Act, 1973. 9. Amendment of section 19 of Finance Act, 1973. 10. Amendment of section 3 of Finance Act, 1974. 11. Personal reliefs.
Chapter II
Taxation of Farming Profits
12. Amendment of section 13 of Finance Act, 1974. 13. Amendment of section 15 of Finance Act, 1974. 14. Amendment of section 16 of Finance Act, 1974. 15. Amendment of section 17 of Finance Act, 1974. 16. Amendment of section 20 of Finance Act, 1974. 17. Amendment of section 21 of Finance Act, 1974. 18. Amendment of section 22 of Finance Act, 1974.
Chapter III
Anti-avoidance
19. Amendment of section 80 of Income Tax Act, 1967. 20. Amendment of section 83 of Income Tax Act, 1967. 21. Appeals against determinations under sections 83 to 85 of Income Tax Act, 1967. 22. Provisions supplementary to sections 19 to 21.
Chapter IV
Corporation Profits Tax
23. Amendment of section 69 of Finance Act, 1959. 24. Continuance of certain exemptions from corporation profits tax.
Chapter V
Miscellaneous
25. Amendment of section 542 of Income Tax Act, 1967. 26. Amendment of section 9 of Finance Act, 1968. 27. Amendment of section 35 of Finance Act, 1973. 28. Interest on unpaid taxes. 29. Adjustment of capital allowances by reference to value-added tax. 30. Patent royalties: provisions supplemental to section 34 of Finance Act, 1973. 31. Relief in respect of increase in stock values. 32. Amendment of section 41 of Finance Act, 1974. 33. Definition of “capital allowance”. 34. Allowance in respect of certain buildings or structures. 35. Amendment of certain enactments.
PART II
Customs and Excise
36. Beer. 37. Spirits. 38. Tobacco. 39. Wine. 40. Table waters. 41. Bets. 42. Gaming licences. 43. Gaming machine licence duty. 44. Increase of dog duty and penalty for failure to pay dog duty. 45. Confirmation of Orders and provision in relation to Imposition of Duties (No. 216) (Excise Duties) (Vehicles) Order, 1975. 46. Amendment of Imposition of Duties Act, 1957.
PART III
Death Duties
47. Abolition of death duties.
PART IV
Stamp Duties
48. Amendment of First Schedule to Stamp Act, 1891. 49. Revocation of Order.
PART V
Value-Added Tax
50. Amendment of section 10 of Value-Added Tax Act, 1972. 51. Amendment of section 11 of Value-Added Tax Act, 1972. 52. Amendment of section 13 of Value-Added Tax Act, 1972. 53. Amendment of Third Schedule to Value-Added Tax Act, 1972.
PART VI
Miscellaneous
54. Capital Services Redemption Account. 55. Amendment of Provisional Collection of Taxes Act, 1927. 56. Care and management of taxes and duties. 57. Short title, construction and commencement.
FIRST SCHEDULE
SECOND SCHEDULE
THIRD SCHEDULE
FOURTH SCHEDULE
Acts Referred to Finance Act, 1974 1974, No. 27 Income Tax Act, 1967 1967, No. 6 Finance Act, 1972 1972, No. 19 Finance Act, 1973 1973, No. 19 Finance Act, 1971 1971, No. 23 Finance Act, 1959 1959, No. 18 Finance Act, 1929 1929, No. 32 Companies Act, 1963 1963, No. 33 Finance Act, 1968 1968, No. 33 Finance Act, 1970 1970, No. 14 Finance Act, 1962 1962, No. 15 Value-Added Tax Act, 1972 1972, No. 22 Finance (Taxation of Profits of Certain Mines) Act, 1974 1974, No. 17 Finance Act, 1920 1920, c. 18 Imposition of Duties (No. 200) (Customs and Excise Duties and Form of Tariff) Order, 1972 S.I. No. 220 of 1972 Finance Act, 1933 1933, No. 15 Imposition of Duties (No. 208) (Beer, Spirits and Tobacco) Order, 1973 S.I. No. 249 of 1973 Finance Act, 1926 1926, No. 35 Finance Act, 1932 1932, No. 20 Finance Act, 1934 1934, No. 31 Finance Act, 1969 1969, No. 21 Imposition of Duties (No. 213) (Customs Duties and Form of Customs Tariff) Order, 1974 S.I. No. 174 of 1974 Finance Act, 1966 1966, No. 17 Finance (New Duties) Act, 1916 1916, c. 11 Imposition of Duties (No. 187) (Customs and Excise Duties and Form of Tariff) Order, 1970 S.I. No. 268 of 1970 Finance Act, 1931 1931, No. 31 Gaming and Lotteries Act, 1956 1956, No. 2 Finance Act, 1956 1956, No. 22 Holidays (Employees) Act, 1973 1973, No. 25 Finance Act, 1925 1925, No. 28 Finance Act, 1963 1963, No. 23 Finance Act, 1941 1941, No. 14 Imposition of Duties Act, 1957 1957, No. 7 Finance Act, 1894 1894, c. 30 Legacy Duty Act, 1796 1796, c. 52 Succession Duty Act, 1853 1853, c. 51 Probate and Legacy Duties (Ireland) Act, 1814 1814, c. 92 Stamp Act, 1891 1891, c. 39 Imposition of Duties (No. 217) (Stamp Duty on Certain Instruments) Order, 1975 S.I. No. 27 of 1975 Finance Act, 1950 1950, No. 18 Provisional Collection of Taxes Act, 1927 1927, No. 7 Finance Act, 1964 1964, No. 15
Number 6 of 1975
FINANCE ACT, 1975
AN ACT TO CHARGE AND IMPOSE CERTAIN DUTIES OF CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE) TO AMEND THE LAW RELATING TO CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE) AND TO MAKE FURTHER PROVISIONS IN CONNECTION WITH FINANCE. [14th May, 1975]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
PART I Income Tax, Sur-tax and Corporation Profits Tax
Chapter I Income Tax
	Amendment of section 142 of Income Tax Act, 1967.	1.—Section 142 (1) (as amended by the Finance Act, 1974 ) of the Income Tax Act, 1967 , is hereby amended by the substitution of “£592” for “£489”, in both places where it occurs, by the substitution of “£95” for “£80”, in both places where it occurs, and by the substitution of “£497” for “£409” and the said section 142 (1), as so amended, is set out in the Table to this section.
TABLE
	142.—(1) If the claimant proves that he maintains at his own expense any person, being a relative of his or of his wife who is incapacitated by old age or infirmity from maintaining himself, or his or his wife's widowed mother, whether incapacitated or not, and being a person whose total income from all sources is less than £592 a year, he shall be entitled to a deduction of £95 in respect of each person whom he so maintains, and a like deduction shall be made in the case of a claimant who, by reason of old age or infirmity, is compelled to depend upon the services of a person (being a person whose total income from all sources is less than £592 a year and being a son or daughter of the claimant) resident with and maintained by him or her:
	Provided that each of the foregoing provisions of this subsection shall have effect, in a case in which the total income from all sources of the person in respect of whom the deduction is to be made exceeds £497 a year, as if, instead of specifying a deduction of £95, it specified a deduction of that amount reduced by the amount of the excess.
	Amendment of section 143 of Income Tax Act, 1967.	2.— Section 143 of the Income Tax Act, 1967 , is hereby amended, with effect as on and from the 6th day of April, 1974, by the addition to subsection (3) (b) of the following proviso:
	“Provided that where any of the taxable income is chargeable at one or more of the higher rates, the claimant shall be entitled to have the amount of the tax payable by him reduced so as not to exceed a sum equal to the aggregate of the two following amounts, that is to say, the amount of the tax that would have been payable by him if the deduction from the total income had been two-thirds of the premium paid by him or, as the case may be, of the sum paid by him or deducted from his salary or stipend and an amount representing tax at the standard rate on one-sixth of the premium paid by him or, as the case may be, of the sum paid by him or deducted from his salary or stipend.”.
	Amendment of section 251 of Income Tax Act, 1967.	3.— Section 251 of the Income Tax Act, 1967 , is hereby amended by the substitution in subsection (4) (d) (inserted by the Finance Act, 1972 ) of “the 1st day of April, 1977” for “the 1st day of April, 1975” (inserted by the Finance Act, 1973 ).
	Amendment of section 254 of Income Tax Act, 1967.	4.— Section 254 of the Income Tax Act, 1967 , is hereby amended by the insertion after subsection (2) of the following subsection:
	“(2A) Notwithstanding anything contained in subsections (1) and (2), this Chapter shall have effect—
	(a) in relation to capital expenditure incurred on or after the 16th day of January, 1975, and before the 1st day of April, 1977, on the construction of a building or structure in respect of which an allowance under this Chapter falls to be made by reason of its use for a purpose specified in paragraph (a) or (b) of section 255 (1), as if ‘one-half’ were substituted for ‘one-tenth’, and
	(b) in relation to...