Finance Act, 1975
|
Chapter II Taxation of Farming Profits | ||
|
Amendment of section 13 of Finance Act, 1974. |
12.— Section 13 of the Finance Act, 1974 , is hereby amended by the substitution of the following subsection for subsection (1): | |
“(1) In this Chapter— | ||
‘farming’ means farming farm land, that is, land in the State wholly or mainly occupied for the purposes of husbandry, other than market garden land within the meaning of section 54 of the Income Tax Act, 1967 ; | ||
‘occupation’, in relation to any land, means having the use thereof or having the right by virtue of any easement (within the meaning of section 80 of the Income Tax Act, 1967 ) to graze livestock thereon.”. |