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Amendment of section 473 (allowance for rent paid by certain tenants) of Principal Act.
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9.—Section 473 of the Principal Act is amended—
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(a) as respects the year of assessment 2001, by the substitution in subsection (1) of the following definition for the definition of “the specified limit”:
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“‘specified limit’, in relation to an individual for a year of assessment, means—
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(a) in the case of—
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(i) a married person assessed to tax in accordance with section 1017, or
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(ii) a widowed person,
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£1,480; but, if at any time during the year of assessment the individual was of the age of 55 years or over, ‘specified limit’ means £2,960, and
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(b) in any other case, £740; but, if at any time during the year of assessment the individual was of the age of 55 years or over, ‘specified limit’ means £1,480;”,
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and
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(b) as respects the year of assessment 2002 and subsequent years of assessment, by the substitution in subsection (1) of the following definition for the definition of “the specified limit”:
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“‘specified limit’, in relation to an individual for a year of assessment, means—
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(a) in the case of—
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(i) a married person assessed to tax in accordance with section 1017, or
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(ii) a widowed person,
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€2,540; but, if at any time during the year of assessment the individual was of the age of 55 years of over, ‘specified limit’ means €5,080, and
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(b) in any other case, €1,270; but, if at any time during the year of assessment the individual was of the age of 55 years or over, ‘specified limit’ means €2,540;”.
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