Finance Act, 1990
Amendment of section 25 (increase of writing-down allowances for certain industrial buildings) of Finance Act, 1978 . |
76.— Section 25 (as amended by section 48 of the Finance Act, 1988 ) of the Finance Act, 1978 , is hereby amended— | |
(a) by the substitution, for subparagraph (ii) of paragraph (b) of subsection (2), of the following subparagraphs: | ||
“(ii) if the qualifying expenditure is incurred on or after the 1st day of April, 1989, and before the 1st day of April, 1991, 50 per cent., or | ||
(iii) if the qualifying expenditure is incurred on or after the 1st day of April, 1991, and before the 1st day of April, 1992, 25 per cent.,”, | ||
and | ||
(b) by the insertion after subsection (2) of the following subsection: | ||
“(2A) Notwithstanding subsection (2), no allowance made under section 264 of the Income Tax Act, 1967 , in respect of qualifying expenditure incurred on or after the 1st day of April, 1992, shall be increased under this section.”. |