Finance Act, 1994
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Amendment of section 19 (relief for expenditure on significant buildings) of Finance Act, 1982. |
18.—(1) Section 19 of the Finance Act, 1982 , is hereby amended— | |
(a) as respects qualifying expenditure incurred in a chargeable period beginning on or after the passing of this Act, by the substitution of the following subsection for subsection (2): | ||
“(2) (a) Subject to the provisions of this section, where a person, having made a claim in that behalf proves— | ||
(i) that he has incurred in a chargeable period qualifying expenditure in respect of an approved building owned or occupied by him, | ||
and | ||
(ii) that he has on or before the 1st day of January in the chargeable period in respect of which the claim is made and in each of the chargeable periods comprising whichever is the shortest of the following periods— | ||
(I) the period consisting of the chargeable periods since the passing of the Finance Act, 1994, | ||
(II) the period consisting of the chargeable periods since a determination under subsection (4) (a) (ii) was made in relation to the building, | ||
(III) the period consisting of the chargeable periods since the approved building was purchased or occupied by him, | ||
(IV) the period consisting of the 5 chargeable periods immediately preceding the chargeable period for which the claim is made, | ||
provided Bord Fáilte Éireann (hereinafter in this subsection referred to as ‘the Board’) with particulars of— | ||
(A) the name, if any, and address of the approved building, and | ||
(B) the days and times during the year when access to the approved building is afforded to the public, | ||
the particulars being provided to the Board on the understanding by the person and the Board that they may be published by the Board or by another body concerned with the promotion of tourism, | ||
then, all the provisions of the Tax Acts shall apply as if the amount of the qualifying expenditure were a loss sustained in the chargeable period in a trade carried on by the person separate from any trade actually carried on by that person. | ||
(b) Relief authorised by this subsection shall not apply for any chargeable period prior to the chargeable period in which the application concerned to the Revenue Commissioners is made under subsection (4) (a).”, | ||
and | ||
(b) as respects a determination made on or after the passing of this Act by the Revenue Commissioners in accordance with the provisions of paragraph (a) (ii) of subsection (4), by the substitution in paragraph (b) (ii) of the said subsection of “60 days (including not less than 40 days during the period commencing on the 1st day of May and ending on the 30th day of September)” for “thirty days” and the said paragraph (b) (ii), as so amended, is set out in the Table to this section. | ||
(2) Notwithstanding the fact that the Revenue Commissioners have, before the passing of this Act, made a determination in accordance with the provisions of paragraph (a) (ii) of subsection (4) of section 19 of the Finance Act, 1982 , that a building is a building to which reasonable access is afforded to the public, relief under subsection (2) of the said section 19, as amended by paragraph (a) of subsection (1), in relation to qualifying expenditure incurred in a chargeable period beginning on or after the 1st day of January, 1995, in respect of the building, shall not be given unless the person who owns or occupies the building satisfies the Revenue Commissioners on or before the 1st day of January in the chargeable period that it is a building to which reasonable access is afforded to the public having regard to the provisions of paragraph (b) (ii) of subsection (4) of the said section 19 as amended by paragraph (b) of subsection (1). | ||
TABLE | ||
(ii) subject to temporary closure necessary for the purposes of the repair, maintenance or restoration of the building, access is so afforded for not less than 60 days (including not less than 40 days during the period commencing on the 1st day of May and ending on the 30th day of September) in any year and on each such day access is afforded in a reasonable manner and at reasonable times for a period, or periods in the aggregate, of not less than 4 hours, and |