Finance Act, 1958

Permanent Page URL

/static/images/base/harp.jpg

Number 25 of 1958.

FINANCE ACT, 1958.

ARRANGEMENT OF SECTIONS

Income Tax.

Section
1.	Income tax and sur-tax for the year 1958-59.
2.	Market gardening.
3.	Amendment of section 5 of Finance Act, 1929.
4.	Evidence in certain cases.
5.	Notices.
6.	Information as to payments to employees.
7.	Amendment of section 3 of Finance Act, 1925.
8.	General rule as to tax on husbands and wives.
9.	Consequences, as respects personal allowances, of exercise of option by husband or wife for separate assessment.
10.	Collection from wife of tax assessed on husband attributable to her income.
11.	Right of husband to disclaim liability for tax on deceased wife's income.
12.	Construction of references to married women living with their husbands, and special provisions as to certain spouses geographically separated.

PART II.

Customs And Excise.

13.	Termination of customs duty on cinematograph films.
14.	Hydrocarbon oils—amendment of section 10 (8) of Finance Act, 1957.
15.	Motor car duty—amendment of section 12 (2) of Finance (Agreement with United Kingdom) Act, 1938.
16.	Entertainments duty—amendment of section 10 (4) (c) of Finance Act, 1948.
17.	Entertainments duty—restriction of section 6 of Finance Act, 1953.
18.	Termination of additional excise duty on tobacco dealer's licence.
19.	Further exemptions in respect of hawkers' licences.
20.	Amendment of Finance (Excise Duties) (Vehicles) Act, 1952.
21.	Confirmation of Orders.

PART III.

Death Duties.

22.	Restriction of section 7 (4) of Finance Act, 1894.

PART IV.

Expenses Allowances And Benefits In Kind: Income Tax And Sur-Tax.

23.	Expenses allowances, etc.
24.	Benefits in kind to be taken into account.
25.	Valuation of benefits in kind.
26.	Meaning of “director”, “employment” and “employment to which this Part of this Act applies.”
27.	Additional provisions as to information.
28.	Application of Part IV.
29.	Interpretation of previous provisions of Part IV.
30.	Unincorporated bodies, partnerships and individuals.

PART V.

Retirement And Other Benefits For Directors And Employees: Income Tax And Sur-Tax.

31.	Interpretation (Part V).
32.	Charge to tax in respect of provision for retirement or other benefits to directors and employees of bodies corporate.
33.	Exemptions from charge to tax under section 32.
34.	Approval of retirement benefits schemes.
35.	Aggregation and severance of schemes.
36.	Certain amounts to be deemed to be income.
37.	Application of Rule 21 of General Rules to certain payments.
38.	Allowance of contributions as deductions, etc.
39.	Delivery of particulars of retirement benefits Schemes, etc.

PART VI.

Retirement Annuities: Income Tax And Sur-Tax.

40.	Retirement annuities (relief for premiums, and earned income relief).
41.	Nature and amount of relief for qualifying premiums.
42.	Taxation of assurance companies doing annuity business.
43.	Supplementary provisions for Part VI.

PART VII.

Relief From Double Taxation: Income Tax, Sur-Tax, Corporation Profits Tax And Death Duties.

44.	Agreements for relief from double taxation of income.
45.	Apportionments.
46.	Agreements for relief from double death duties.
47.	Regulations.
48.	Disclosure of information.
49.	Supplementary.
50.	Amendment of section 15 of Finance Act, 1951.

PART VIII.

Purchases Of Shares By Financial Concerns And Persons Exempted From Tax And Restriction On Relief For Losses By Repayment Of Tax In Case Of Dividends Paid Out Of Accumulated Profits: Income Tax, Sur-Tax And Corporation Profits Tax.

51.	Purchases of shares by financial concerns and persons exempted from tax.
52.	Restriction on relief for losses by repayment of tax in case of dividends paid out of accumulated profits.
53.	Operative date effect and construction.

PART IX.

Recovery Or Taxes And Amendment Of Finance (Miscellaneous Provisions) Act, 1956 : Income Tax, Sur-Tax And Corporation Profits Tax.

54.	Proceedings in the High Court in respect of taxes.
55.	Extension of section 7 of Finance Act, 1923.
56.	Amendment of Finance (Miscellaneous Provisions) 1956.

PART X.

Stamp Duties.

57.	Agreements as to stamp duty on certain instruments.
58.	Termination of stamp duty on certain receipts.
59.	Termination of stamp duty on certain instruments.
60.	Termination of stamp duty on certain bonds.

PART XI.

Miscellaneous And General.

61.	Capital Services Redemption Account.
62.	Termination of payments into the Capital Fund.
63.	Holding and investment of moneys of Post Office Savings Bank.
64.	Investment of moneys of Savings Certificates Reserve Fund.
65.	Expenses incurred in connection with management of prize bonds.
66.	Repeals.
67.	Care and management of taxes and duties.
68.	Short title, construction and commencement.

FIRST SCHEDULE

RETIREMENT ANNUITIES (ADJUSTMENTS OF LIMIT ON QUALIFYING PREMIUMS)

SECOND SCHEDULE

PROVISIONS AS TO RELIEF FROM INCOME TAX (INCLUDING SUR-TAX) AND CORPORATION PROFITS TAX BY WAY OF CREDIT IN RESPECT OF FOREIGN TAX

THIRD SCHEDULE

DIVIDENDS REGARDED AS PAID OUT OF PROFITS ACCUMULATED BEFORE GIVEN DATE

FOURTH SCHEDULE

ENACTMENTS REPEALED

Acts Referred to
Finance Act, 1929	No. 32 of 1929
Finance Act, 1925	No. 28 of 1925
Finance Act, 1954	No. 22 of 1954
Finance Act, 1951	No. 15 of 1951
Finance Act, 1932	No. 20 of 1932
Finance Act, 1957	No. 20 of 1957
Road Transport Act, 1932	No. 2 of 1932
Finance (Agreement with United Kingdom) Act, 1938	No. 12 of 1938
Finance Act, 1948	No. 12 of 1948
Finance Act, 1953	No. 21 of 1953
Finance Act, 1930	No. 20 of 1930
Finance Act, 1931	No. 31 of 1931
Finance (Excise Duties) (Vehicles) Act, 1952	No. 24 of 1952
Mental Treatment Act, 1945	No. 19 of 1945
Finance Act, 1935	No. 28 of 1935
Finance Act, 1946	No. 15 of 1946
Finance Act, 1956	No. 22 of 1956
Finance (Miscellaneous Provisions) Act, 1956	No. 47 of 1956
Finance Act, 1947	No. 15 of 1947
Finance Act, 1945	No. 20 of 1945
Finance Act, 1950	No. 18 of 1950
Finance Act, 1955	No. 13 of 1955
Finance Act, 1923	No. 21 of 1923
Court Officers Act, 1945	No. 25 of 1945
Finance Act, 1937	No. 18 of 1937
Central Fund Act, 1956	No. 12 of 1956
Harbours Act, 1946	No. 9 of 1946
Adaptation of Enactments Act, 1922	No. 2 of 1922
Finance Act, 1941	No. 14 of 1941

/static/images/base/harp.jpg

Number 25 of 1958.

FINANCE ACT, 1958.

AN ACT TO CHARGE AND IMPOSE CERTAIN DUTIES OF CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE), TO AMEND THE LAW RELATING TO CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE) AND TO MAKE FURTHER PROVISIONS IN CONNECTION WITH FINANCE. [29th July, 1958.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

Finance Act, 1958 Permanent Page URL

Finance Act, 1958

Permanent Page URL