Finance Act 2017
|
Amendment of section 613 of Principal Act (miscellaneous exemptions for certain kinds of property) | ||
|
32. (1) Section 613 of the Principal Act is amended— | ||
(a) in subsection (1) by inserting the following after paragraph (c): | ||
“(ca) any sum obtained by means of compensation under the 2017 Voluntary Homeowners Relocation Scheme administered by the Commissioners of Public Works in Ireland under section 2 of the Commissioners of Public Works (Functions and Powers) Act 1996 ;”, | ||
and | ||
(b) in subsection (7) by inserting the following after paragraph (a): | ||
“(aa) No chargeable gain shall arise on a disposal of land (including a right of turbary) to the Minister referred to in paragraph (a) where that land has been acquired by that Minister for the purposes of granting a right of turbary to an individual who— | ||
(i) is entitled to compensation under the scheme referred to in paragraph (a), and | ||
(ii) enters into an agreement with that Minister in respect of that land (or any estate, right or interest in or over that land).”. | ||
(2) This section applies with effect from 19 October 2017. |