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Deferment of increase in rate of tax (private dwellings).
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54.—(1) For the purposes of this section—
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“dwelling” means a house, or an apartment, flat, penthouse or similar unit of accommodation;
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“qualifying supply” means the supply on or before the 30th day of April, 1985, to a person, being an individual acting on his own behalf, of a service consisting of the development of immovable goods, being the construction of a dwelling designed for the private use of, and occupation by, such person, and includes a supply of immovable goods to that person on or before the said date in connection with the supply of the said service.
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(2) In this section reference to the construction of a dwelling does not include reference to the conversion, reconstruction, alteration or enlargement of any existing building or buildings.
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(3) In respect of the taxable period commencing on the 1st day of March, 1985, notwithstanding the provisions of section 11 of the Principal Act (as amended by this Act), value-added tax shall, in relation to a qualifying supply, be, and be deemed to have been, chargeable, at the rate of 5 per cent.
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