Finance Act 2024
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Exemption in respect of Stardust ex-gratia payments | ||
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31. (1) The Principal Act is amended by the insertion of the following section after section 205C (inserted by section 30 ): | ||
“205D. (1) In this section— | ||
‘relevant payment’ means a payment or payments made to a relevant person by or on behalf of the Minister for Justice, under Phase 1 of the Stardust ex-gratia payment scheme (that is to say the scheme administered by the Minister for Justice in furtherance of a decision of the Government of 9 August 2024 for the families of the deceased victims of the Stardust fire); | ||
‘relevant person’ means a person to whom a relevant payment has been made. | ||
(2) Income that consists of a relevant payment shall be exempt from income tax and shall not be reckoned in computing total income for the purposes of the Income Tax Acts.”. | ||
(2) The Capital Acquisitions Tax Consolidation Act 2003 is amended, in section 82(1), by the insertion of the following paragraph after paragraph (bc) (inserted by section 30 ): | ||
“(bd) the receipt by a person of any payment made under Phase 1 of the Stardust ex-gratia payment scheme (that is to say the scheme administered by the Minister for Justice in furtherance of a decision of the Government of 9 August 2024 for the families of the deceased victims of the Stardust fire);”. | ||
(3) Subsections (1) and (2) shall be deemed to have come into operation on 9 August 2024. |