S.I. No. 378/2013 - Finance Act 2013 (Section 20(1)) (Commencement of Certain Provisions) Order 2013.

1. This Order may be cited as the Finance Act 2013 (Section 20(1)) (Commencement of Certain Provisions) Order 2013.

2. The day of the making of this Order is appointed as the day on which paragraphs (

a

) to (

f

) of

section 20

(1) of the

Finance Act 2013

(No. 8 of 2013) come into operation.

GIVEN under my Official Seal,

3 October, 2013.

MICHAEL NOONAN,

Minister for Finance.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order commences subsection 1(

a

) of

section 20

of the

Finance Act 2013

and thereby extends the 25% rate of stock relief for farmers provided for under

section 666

of the

Taxes Consolidation Act 1997

from 31 December 2012 to 31 December 2015.

This Order also commences subsections (

b

), (c), (

d

), (

e

) and (

f

) of

section 20

of the

Finance Act 2013

and thereby extends the 100% rate of stock relief for young trained farmers provided for under section 667B of the

Taxes Consolidation Act 1997

from 31 December 2012 to 31 December 2015. It also commences the new qualifying conditions which young trained farmers must meet in order to be eligible for the increased rate of stock relief, as provided for by

Finance Act 2013

.

Notice of the making of this Statutory Instrument was published in “Iris Oifigiúil” of

8

th October,

2013.

I, MICHAEL NOONAN, Minister for Finance, in exercise of the powers conferred on me by

section 20

(2) of the

Finance Act 2013

(No. 8 of 2013), hereby order as follows