Finance Act, 1999
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Amendment of section 97 (computational rules and allowable deductions) of Principal Act. |
31.—(1) Section 97 of the Principal Act is hereby amended by the substitution in paragraph (a) of subsection (2B) (inserted by the Finance (No. 2) Act, 1998 ) and in paragraph (b) of subsection (2C) (as so inserted) of “31st day of March, 1999” for “31st day of December, 1998”, and the said paragraphs (a) and (b), as so amended, are set out in the Table to this section. | |
(2) This section shall be deemed to have come into force and shall take effect as on and from the 20th day of May, 1998. | ||
TABLE | ||
(a) on or before the 31st day of March, 1999, in the purchase of a residential premises in pursuance of a contract which was evidenced in writing prior to the 23rd day of April, 1998, for the purchase of that premises, | ||
(b) In any case where paragraph (a) applies, subsection (2B)(a) shall apply only where the money is employed on or before the 31st day of March, 1999, and the person chargeable— | ||
(i) has before the 23rd day of April, 1998, either— | ||
(I) an estate or interest in land, or | ||
(II) entered into a contract evidenced in writing to acquire an estate or interest in land, | ||
and | ||
(ii) in respect of any building or part of any building for use or suitable for use as a dwelling to be constructed on that land, either— | ||
(I) has entered into a contract evidenced in writing before the 23rd day of April, 1998, for the construction of that building or that part of that building, or | ||
(II) if no such contract exists, satisfies the Revenue Commissioners that the foundation for that building or that part of that building was laid in its entirety before the 23rd day of April, 1998. |