FINANCE ACT, 1929 (1929_act_32) | IE

ISB Act 1929-08-01

Schedule 1 FINANCE ACT, 1929 Open official source

FIRST SCHEDULE. Properties and Income Assessable Under Schedule D.

Properties and Income Assessable Under Schedule D.

PART I.

Property in respect of which tax is chargeable.

Case of Schedule D. under which to be charged.

Provisions with respect to new method of charging.

Lands, Tenements, hereditaments or heritages to which the rules of No. III of Schedule A apply.

Case I.

Rules 4, 5 and 7 of No. III. of Schedule A., shall apply and shall be deemed to be rules of Schedule D, applicable to Case I, so far as regards those lands, tenements, hereditaments or heritages.

No deduction or set-off (other than the deduction granted by sub-section (2) of section 18 of the Finance Act, 1919) shall be allowed in estimating the profits on account of, or by reference to the annual value of any lands, tenements, hereditaments or heritages occupied and used in connection with the concern and not separately assessed and charged under No. 1 of Schedule A in accordance with the provisions of sub-section (3) of section 8 of this Act.

PART II.

Income in respect of which tax is chargeable

Case of Schedule D under which to be charged

Rules with respect to new method of charging.

Income arising from securities in any place out of Saorstát Eireann except such income as is charged under Schedule C.

Case III.

(1) The tax in respect of income arising from securities and possessions in any place out of Saorstát Eireann shall be computed on the full amount thereof arising in the year preceding the year of assessment, whether the income has been or will be received in Saorstát Eireann or not, subject in the case of income not received in Saorstát Eireann, to the same deductions and allowances as if it had been so received, and to the deduction, where such a deduction cannot be made under any other provision of this Act, of any sum which has been paid in respect of income tax in the place where the income has arisen, and to a deduction on account of any annual interest or any annuity or other annual payment payable out of the income to a person not resident in Saorstát Eireann and the provisions of this Act(including those relating to the delivery of statements) shall apply accordingly.

Income arising from possessions in any place out of Saorstát Eireann.

Case III.

(2) The foregoing rule shall not apply—

(a) to any person who satisfies the Revenue Commissioners that he is not domiciled in Saorstát Eireann, or that, being a citizen of Saorstát Eireann, he is not ordinarily resident in Saorstát Eireann; or

(b) to income arising from such securities as aforesaid which form part of the investments of the foreign life assurance fund of an assurance company.

The tax in any such case shall be computed on the full amount of the actual sums received in Saorstát Eireann from remittances payable in Saorstát Eireann, or from property imported, or from money or value arising from property not imported, or from money or value so received on credit or on account in respect of any such remittances, property, money or value brought into Saorstát Eireann in the year preceding the year of assessment, without any deduction or abatement other than is therein allowed.

(3) Section 12 of the Finance Act, 1925 (No. 28 of 1925), (which deals with the right of appeal on questions of domicile and ordinary residence), shall be read and construed as if for the references therein contained to paragraph (a) of Rule 2 of the Rules applicable to Case IV of Schedule D and to paragraph (a) of Rule 3 of the Rules applicable to Case V of Schedule D of the Income Tax Act, 1918, there were substituted a reference to paragraph (a) of No. 2 of these Rules.

(4) References in section 17 of the Finance Act, 1922 (which deals with the computation of profits or income under Case III of Schedule D), to income which arises or which arose shall, in cases where income tax is to be computed by reference to the amount of income received in Saorstát Eireann, be construed as references to income which is or was so received.

ISB Act 1929-08-01

Schedule 2 FINANCE ACT, 1929 Open official source

SECOND SCHEDULE. Modifications of Income Tax Acts in Respect of Property Situate and Profits or Gains Arising in Great Britain or Northern Ireland.

Modifications of Income Tax Acts in Respect of Property Situate and Profits or Gains Arising in Great Britain or Northern Ireland.

(1) Sub-paragraphs (1) and (2) of paragraph 1 of Part II of the First Schedule to the Finance Act, 1926, shall cease to have effect.

(2) The rules applicable to Case III of Schedule D contained in Part II of the First Schedule to this Act shall have effect as if Rule 2 thereof had been omitted.

(3) The rule substituted by sub-paragraph (3) of paragraph 1 of Part II of the First Schedule to the Finance Act, 1926, for Rule 2 of the rules applicable to Case V of Schedule D of the Income Tax Act, 1918, shall be a rule of Case III of Schedule D of the Income Tax Act, 1918, and shall be read and construed as if for the words “the year of assessment” where they firstly appear therein there were substituted the words “the year preceding the year of assessment,” and as if the words “as amended by section 5 of the Finance Act, 1923 (No. 21 of 1923)” were omitted therefrom.

(4) Sub-paragraph (4) of paragraph 1 of Part II of the First Schedule to the Finance Act, 1926, shall be read and construed as if for the words “Case V” appearing therein there were substituted the words “Case III.”

(5) In the case of any person entitled for any year to claim relief from double taxation under Article 2 of Part I of the First Schedule to the Finance Act, 1926 (which deals with relief from double taxation in the case of a person who is resident both in Great Britain or Northern Ireland and in the Irish Free State) tax for that year in respect of income arising from securities, stocks, shares or rents in Great Britain or Northern Ireland shall be computed on the full amount thereof arising in the year of assessment

Provided however that tax in respect of interest arising from any security issued under the War Loan Acts, 1914 to 1917, or any Act of the United Kingdom Parliament amending these Acts where such interest is paid without deduction of British tax shall be computed in accordance with the Rules applicable to Case III of Schedule D of the Income Tax Act, 1918, and notwithstanding anything contained in section 10 of this Act income from any such security may be deemed to issue from a separate source.

ISB Act 1929-08-01

Schedule 3 FINANCE ACT, 1929 Open official source

THIRD SCHEDULE. Consequential and Minor Amendments of Income Tax Acts.

Consequential and Minor Amendments of Income Tax Acts.

Enactments to be amended.

Nature of Amendment.

The Income Tax Act, 1918: Section 19.

The words “assessable under Schedule A.” shall be inserted after the word “heritages” where that word first occurs; the words “assessable under Schedule B.” shall be inserted after the word “heritages” where it secondly occurs; and the words “of the last-mentioned lands, tenements, hereditaments and heritages” shall be inserted after the word “occupier.”

The Income Tax Act, 1918: First Schedule.

In paragraph (2) of Rule 1 of the Rules applicable to Cases I and II of Schedule D., the words “year preceding the year of assessment” shall be substituted for “said period of three years” and the words “the average of” shall be omitted.

In paragraph (d) of Rule 3 of the Rules applicable to Cases I and II of Schedule D., the words “actually” shall be substituted for the word “usually,” and the words “according to an average of three years preceding the year of assessment” shall be omitted.

In paragraph (1) of Rule 5 of the Rules applicable to Cases I and II of Schedule D., the words “annual value of” shall be substituted for the words “profits or gains arising from” and the words “and separately assessed and charged under Schedule A.” shall be inserted after the word “profession” where it first occurs, and the words “provided that” shall be omitted.

In paragraph (2) of the said Rule 5, the words “lands, tenements, hereditaments and heritages” shall be substituted for the word “premises” where it firstly and secondly occurs.

The Finance Act, 1920: Section 27.

For the reference in sub-section (4) to the Rules applicable to Case IV or Case V. of Schedule D, there shall be substituted a reference to the corresponding provision contained in Part II of the First Schedule to this Act.

The Finance Act, 1923: Section 5.

In sub-section (2) the words “for the purposes of Schedule A.” and the words “in accordance with the rules” to the end of the sub-section shall be omitted.

The Finance Act, 1928: Section 9.

In sub-section (1) the word “Revenue” shall be substituted for the word “Special,” and the word “said” shall be inserted before the words “Revenue Commissioners” where they now appear.

ISB Act 1929-08-01

Schedule 4 FINANCE ACT, 1929 Open official source

FOURTH SCHEDULE. Enactments Repealed as from the 6th day of April, 1930.

Enactments Repealed as from the 6th day of April, 1930.

Session and Chapter or Number and Year

Short Title

Extent of Repeal

8 & 9 Geo. 5.

Income Tax Act, 1918.

In the First Schedule— In the Rule applicable to Case 1 of Schedule D the words “other than a trade relating to lands, tenements, hereditaments or heritages directed to be charged under Schedule A.”

In the First Schedule—

In the Rule applicable to Case 1 of Schedule D the words “other than a trade relating to lands, tenements, hereditaments or heritages directed to be charged under Schedule A.”

Rule 8 of the Rules applicable to Cases I and II of Schedule D.

Rule 3 of the Miscellaneous Rules applicable to Schedule D.

11 & 12 Geo. 5, c. 32.

Finance Act, 1921.

Section 26.

No. 28 of 1925.

Finance Act, 1925.

Section 6.

No. 18 of 1927.

Finance Act, 1927.

Section 5.

ISB Act 1929-08-01

Schedule 5 FINANCE ACT, 1929 Open official source

FIFTH SCHEDULE. Rates of Duty on Certain Mechanically Propelled Vehicles.

Rates of Duty on Certain Mechanically Propelled Vehicles.

Mechanically propelled vehicles (other than trams) being hackney carriages as defined in section 4 of the Customs and Inland Revenue Act, 1888, and having:—

seating capacity for more than 6 but not

more than 14 persons

£70

seating capacity for more than 14 but not

more than 20 persons

£100

seating capacity for more than 20 but not

more than 26 persons

£130

seating capacity for more than 26 but not

more than 32 persons

£160

seating capacity for 33 or more persons

£5 for every such person.

For the purposes of this Schedule the seating capacity of a vehicle does not include the seat or space occupied by the driver of the vehicle.

ISB Act 1929-08-01

Schedule 6 FINANCE ACT, 1929 Open official source

SIXTH SCHEDULE. Enactments Repealed as from the 6th day of April, 1929.

Enactments Repealed as from the 6th day of April, 1929.

Session and Chapter or Number and Year

Short Title

Extent of Repeal

8 & 9 Geo. 5, c. 40.

Income Tax Act, 1918.

Sections 135, 136, 188, 189 and 195.

No. 11 of 1928.

Finance Act, 1928.

Section 10.

FINANCE ACT, 1929

Table of Provisions (6)

Statutory Text (6 Articles)

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