Finance Act, 1985

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Number 10 of 1985

FINANCE ACT, 1985

ARRANGEMENT OF SECTIONS

Income Tax, Income Levy, Corporation Tax and Capital Gains Tax

Income Tax

Section
1.	Amendment of provisions relating to exemption from income tax.
2.	Alteration of rates of income tax.
3.	Personal reliefs.
4.	Amendment of section 138A (additional allowance for widows and others in respect of children) of Income Tax Act, 1967.
5.	Amendment of section 6 (special allowance in respect of P.R.S.I. for 1982-83) of Finance Act, 1982.
6.	Amendment of section 125 (application of PAYE) of Income Tax Act, 1967.
7.	Amendment of section 142A (allowance for rent paid by certain tenants) of Income Tax Act, 1967.
8.	Amendment of section 344 (exemption of interest on certain deposits) of Income Tax Act, 1967.
9.	Amendment of provisions relating to estimation of tax due.
10.	Exemption of certain income from leasing of farm land.

Chapter II

Income Levy

11.	Application of section 16 (income levy) of Finance Act, 1983, for 1985-86.

Chapter III

Income Tax, Corporation Tax and Capital Gains Tax

12.	Amendment of section 550 (interest on overdue tax) of Income Tax Act, 1967.
13.	Amendment of Chapter III (Income Tax: Relief for Investment in Corporate Trades) of Part I of Finance Act, 1984.
14.	Amendment of section 18 (profits from the occupation of certain lands) of Finance Act, 1969.
15.	Amendment of section 21 (payments to universities) of Finance Act, 1973.
16.	Gifts to the President's Award Scheme.
17.	Farming: amendment of provisions relating to relief in respect of increase in stock values.
18.	Amendment of Chapter VIII (stock relief) of Part I of Finance Act, 1984.
19.	Application of section 31 (building societies) of Corporation Tax Act, 1976.
20.	Continuation of certain capital allowances.
21.	Rented residential accommodation: deduction for expenditure on refurbishment.
22.	Extension of application of relief for conversion of certain buildings.

Chapter IV

Corporation Tax

23.	Time for payment of corporation tax.
24.	Exemption of certain income of Housing Finance Agency, p.l.c.

Chapter V

Advance Corporation Tax

25.	Extension of section 52 (transitional reduction of advance corporation tax) of Finance Act, 1983.

PART II

Customs and Excise

26.	Interpretation (Part II).
27.	Tobacco products.
28.	Cider and perry.
29.	Hydrocarbons.
30.	Mechanical lighters.
31.	Bets.
32.	Excise duty on mechanically propelled vehicles (new rates).
33.	Excise duties on mechanically propelled vehicles (conversion from horse-power to cubic centimetres).
34.	Reduction of duty on motor vehicle parts and accessories.
35.	Provisions relating to excise duty on table waters.
36.	Amendment of Finance (New Duties) Act, 1916.
37.	Amendment of section 26 (powers of entry and search for documents) of Finance Act, 1926.
38.	Amendment of section 43 (gaming machine licence duty) of Finance Act, 1975.
39.	Proceedings in excise cases in the District Court.
40.	Confirmation of Orders.

PART III

Value-Added Tax

41.	Interpretation (Part III).
42.	Amendment of section 5 (rendering of services) of Principal Act.
43.	Amendment of section 11 (rates of tax) of Principal Act.
44.	Amendment of section 12A (special provisions for tax invoiced by flat-rate farmers) of Principal Act.
45.	Amendment of section 13 (remission of tax on goods exported, etc.) of Principal Act.
46.	Amendment of section 15 (charge of tax on imported goods) of Principal Act.
47.	Amendment of section 23 (determination of tax due) of Principal Act.
48.	Amendment of section 32 (regulations) of Principal Act.
49.	Amendment of First Schedule to Principal Act.
50.	Amendment of Second Schedule to Principal Act.
51.	Miscellaneous amendments (Third, Sixth and Seventh Schedules) to Principal Act.
52.	Amendment of Fourth Schedule to Principal Act.
53.	Repeals.
54.	Deferment of increase in rate of tax (private dwellings).

PART IV

Stamp Duties

55.	Levy on banks.
56.	Cesser of section 86 (stamp duty on course bets) of Finance Act, 1980.
57.	Amendment of section 93 (exemption of certain instruments from stamp duty) of Finance Act, 1982.

PART V

Capital Acquisitions Tax

58.	Interpretation (Part V).
59.	Exemption for spouses.
60.	Relief in respect of certain policies of insurance.
61.	Relief from double aggregation.
62.	Allowance for prior tax on the same event.
63.	Allowance for capital gains tax on the same event.
64.	Amendment of section 106 (acquisitions by discretionary trusts) of Finance Act, 1984.
65.	Amendment of section 108 (exemptions) of Finance Act, 1984.

PART VI

Miscellaneous

66.	Capital Services Redemption Account.
67.	Payment of certain interest under State Financial Transactions (Special Provisions) Act, 1984.
68.	Financial arrangements relating to Bord Telecom Éireann.
69.	Securities issued by the Minister for Finance.
70.	Care and management of taxes and duties.
71.	Short title, construction and commencement.

FIRST SCHEDULE

Amendment of Enactments

SECOND SCHEDULE

Rates of Excise Duty on Tobacco Products

Acts Referred to
Adoption Acts, 1952 to 1976
Capital Acquisitions Tax Act, 1976	1976, No. 8
Central Bank Act, 1971	1971, No. 24
Companies Act, 1963	1963, No. 33
Corporation Tax Act, 1976	1976, No. 7
Excise Act, 1848	1848, c. 118
Finance Act, 1926	1926, No. 35
Finance Act, 1931	1931, No. 31
Finance Act, 1950	1950, No. 18
Finance Act, 1960	1960, No. 19
Finance Act, 1961	1961, No. 23
Finance Act, 1968	1968, No. 33
Finance Act, 1969	1969, No. 21
Finance Act, 1971	1971, No. 23
Finance Act, 1973	1973, No. 19
Finance Act, 1975	1975, No. 6
Finance Act, 1976	1976, No. 16
Finance Act, 1977	1977, No. 18
Finance Act, 1979	1979, No. 11
Finance Act, 1980	1980, No. 14
Finance Act, 1981	1981, No. 16
Finance Act, 1982	1982, No. 14
Finance Act, 1983	1983, No. 15
Finance Act, 1984	1984, No. 9
Finance (Excise Duties) (Vehicles) Act, 1952	1952, No. 24
Finance (Excise Duty on Tobacco Products) Act, 1977	1977, No. 32
Finance (Miscellaneous Provisions) Act, 1968	1968, No. 7
Finance (New Duties) Act, 1916	1916, c. 11
Housing Finance Agency Act, 1981	1981, No. 37
Income Tax Act, 1967	1967, No. 6
Insurance Act, 1936	1936, No. 45
Local Government (Planning and Development) Acts, 1963 to 1983
Postal and Telecommunications Services Act, 1983	1983, No. 24
Preferential Payments in Bankruptcy (Ireland) Act, 1889	1889, c. 60
Road Traffic Act, 1961	1961, No. 24
Stamp Act, 1891	1891, c. 39
State Financial Transactions (Special Provisions) Act, 1984	1984, No. 23
Succession Duty Act, 1853	1853, c. 51
Value-Added Tax Act, 1972	1972, No. 22
Value-Added Tax (Amendment) Act, 1978	1978, No. 34
Vocational Education Act, 1930	1930, No. 29

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Number 10 of 1985

FINANCE ACT, 1985

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. [30th May, 1985]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Finance Act, 1985 Permanent Page URL

Finance Act, 1985

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