Finance Act, 1994
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Amendment of section 138B (employee allowance) of Income Tax Act, 1967. |
4.—As respects the year of assessment 1994-95 and subsequent years of assessment, section 138B (inserted by the Finance Act, 1980 ) of the Income Tax Act, 1967 , is hereby amended by the insertion after subsection (2) of the following subsection: | |
“(2A) (a) The exclusion from the definition of ‘emoluments’ in subsection (2) of the emoluments referred to in paragraphs (a) and (b) of the said definition shall not apply for any year of assessment to any such emoluments paid to an individual, being a child (other than a child who is a proprietary director) to whom the said paragraph (a) or (b) relates, if, for that year— | ||
(i) (I) the individual is a specified employed contributor within the meaning of section 6 of the Finance Act, 1982 , or | ||
(II) the provisions of the Income Tax (Employments) Regulations, 1960 ( S.I. No. 28 of 1960 ), in so far as they apply, have, in relation to any such emoluments paid to the individual in the year of assessment, been complied with by the person by whom the emoluments are paid, and | ||
(ii) the conditions of the office or employment, in respect of which any such emoluments are paid, are such that the individual is required to devote, throughout the year of assessment, substantially the whole of the individual's time to the duties of the office or employment and the individual does in fact do so, and | ||
(iii) the amount of any such emoluments, paid to the individual in the year of assessment, are not less than £3,600. | ||
(b) Where a deduction under this section is to be made from emoluments for any year of assessment by virtue of the operation of paragraph (a) of this subsection such deduction shall be given by way of repayment of tax.”. |