Finance (Local Property Tax) Act 2012
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PART 12 Deferred Payment of Local Property Tax | ||
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Interpretation (Part 12). |
130.— For the purposes of this Part— | |
“gross income” means income, without regard to any amount deductible from or deductible in computing total income, from all sources as estimated in accordance with the Tax Acts and as if any provision of those Acts providing for any income, profits or gains to be exempt from income tax or to be disregarded or not reckoned for the purposes of income tax or of those Acts were never enacted but not including child benefit payable under Part 4 of the Act of 2005 or any subsequent Act with which that Act may be cited; | ||
“relevant event” means, in relation to a relevant residential property, the sale of the property within the meaning of section 125 by or on behalf of a liable person who has claimed a deferral; | ||
“relevant year” means the year in which the liability date in respect of which local property tax is payable falls; | ||
“windfall gain” means winnings, gifts, inheritances and capital sums of any kind. |