Finance Act 2019
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Exemption of certain payments made or authorised by Child and Family Agency | ||
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13. (1) Chapter 1 of Part 7 of the Principal Act is amended— | ||
(a) by deleting section 192B, and | ||
(b) by inserting the following section: | ||
“Exemption of certain payments made or authorised by Child and Family Agency | ||
192BA. (1) In this section— | ||
‘carer’, in relation to an individual, means a person who is or was a foster parent or relative of the individual or who takes care of the individual on behalf of the Child and Family Agency; | ||
‘foster parent’ has the meaning assigned to it in the Child Care (Placement of Children in Foster Care) Regulations 1995 ( S.I. No. 260 of 1995 ); | ||
‘Minister’ means the Minister for Children and Youth Affairs; | ||
‘qualifying payment’ means a payment which is— | ||
(a) (i) described in column (1) of the Table to this section, | ||
(ii) paid on a basis specified in column (2) of that Table, and | ||
(iii) made or authorised by the Child and Family Agency on behalf of the Minister, | ||
or | ||
(b) made in accordance with the law of any other Member State and which corresponds to a payment referred to in paragraph (a); | ||
‘qualifying person’ means a carer, foster parent, relative or any other individual to whom a qualifying payment is made; | ||
‘relative’ has the meaning assigned to it in the Child Care (Placement of Children with Relatives) Regulations 1995 ( S.I. No. 261 of 1995 ). | ||
(2) A qualifying payment which is made to a qualifying person on or after 1 January 2020 shall be exempt from income tax and shall not be reckoned in computing the total income of the qualifying person for the purposes of the Income Tax Acts. | ||
(3) A qualifying payment which is made to a qualifying person before 1 January 2020 shall be treated as if it were exempt from income tax in the year of assessment in which it is made and shall not be reckoned in computing the total income of the qualifying person for that year of assessment for the purposes of the Income Tax Acts. | ||
TABLE | ||
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”. | ||
(2) Section 192BA(1) of the Principal Act (as inserted by subsection (1)(b)) is amended in paragraph (b) of the definition of “qualifying payment” by substituting “Member State or of the United Kingdom” for “Member State”. | ||
(3) Subsection (2) shall come into operation on such day as the Minister for Finance may appoint by order. |
