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Amendment of section 46 of Principal Act (delivery of returns)
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98. (1) Section 46(4A) of the Principal Act is amended by the substitution of the following paragraph for paragraph (b):
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“(b) This subsection shall apply to a specified loan where—
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(i) a person is deemed under section 40(2) to have taken a gift in respect of the use or enjoyment of the specified loan, and
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(ii) the balance outstanding on the specified loan, when aggregated with the balance outstanding on any other specified loan to which subparagraph (i) applies in the relevant period, exceeds €335,000 on at least one day in the relevant period.”.
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(2) Subsection (1) shall come into operation on 1 January 2025.
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