Finance Act, 1940
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Amendment of section 21 of the Finance Act, 1920. |
6.— Section 21 of the Finance Act, 1920 , is hereby amended by the addition at the end of the said section of the following sub-section, that is to say:— | |
“(5) Where, for any year of assessment, two or more individuals are or would, but for the provisions of this sub-section, be entitled under this section to relief in respect of the same child, the following provisions shall have effect, that is to say:— | ||
(a) only one deduction under this section shall be allowed in respect of such child; | ||
(b) where such child is maintained by one parent only, that parent only shall be entitled to claim such deduction; | ||
(c) where such child is maintained jointly by both parents, each parent shall be entitled to claim such part of such deduction as is proportionate to the amount expended by him or her on the maintenance of such child; | ||
(d) in ascertaining for the purposes of this sub-section whether a parent maintains a child and, if so, to what extent, any payment made by such parent for or towards the maintenance of such child which such parent is entitled to deduct in computing his or her total income for the purposes of the Income Tax Acts shall be deemed not to be a payment for or towards the maintenance of such child.” |