Finance Act, 1985

Finance Act, 1985 Permanent Page URL View by Section Amharc de réir Ailt View Full Act Amharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRí arna ndéanamh faoin Acht Priontáil an tAcht Iomlán Previous Section Alt Roimhe Next Section An Chéad Alt Eile Priontáil an tAlt 10 1985 FINANCE ACT, 1985 ARRANGEMENT OF SECTIONS PART I Income Tax, Income Levy, Corporation Tax and Capital Gains Tax Chapter I Income Tax 1. Amendment of provisions relating to exemption from income tax. 2. Alteration of rates of income tax. 3. Personal reliefs. 4. Amendment of section 138A (additional allowance for widows and others in respect of children) of Income Tax Act, 1967. 5. Amendment of section 6 (special allowance in respect of P.R.S.I. for 1982-83) of Finance Act, 1982. 6. Amendment of section 125 (application of PAYE) of Income Tax Act, 1967. 7. Amendment of section 142A (allowance for rent paid by certain tenants) of Income Tax Act, 1967. 8. Amendment of section 344 (exemption of interest on certain deposits) of Income Tax Act, 1967. 9. Amendment of provisions relating to estimation of tax due. 10. Exemption of certain income from leasing of farm land. Chapter II Income Levy 11. Application of section 16 (income levy) of Finance Act, 1983, for 1985-86. Chapter III Income Tax, Corporation Tax and Capital Gains Tax 12. Amendment of section 550 (interest on overdue tax) of Income Tax Act, 1967. 13. Amendment of Chapter III (Income Tax: Relief for Investment in Corporate Trades) of Part I of Finance Act, 1984. 14. Amendment of section 18 (profits from the occupation of certain lands) of Finance Act, 1969. 15. Amendment of section 21 (payments to universities) of Finance Act, 1973. 16. Gifts to the President's Award Scheme. 17. Farming: amendment of provisions relating to relief in respect of increase in stock values. 18. Amendment of Chapter VIII (stock relief) of Part I of Finance Act, 1984. 19. Application of section 31 (building societies) of Corporation Tax Act, 1976. 20. Continuation of certain capital allowances. 21. Rented residential accommodation: deduction for expenditure on refurbishment. 22. Extension of application of relief for conversion of certain buildings. Chapter IV Corporation Tax 23. Time for payment of corporation tax. 24. Exemption of certain income of Housing Finance Agency, p.l.c. Chapter V Advance Corporation Tax 25. Extension of section 52 (transitional reduction of advance corporation tax) of Finance Act, 1983. PART II Customs and Excise 26. Interpretation ( Part II ). 27. Tobacco products. 28. Cider and perry. 29. 30. Mechanical lighters. 31. 32. Excise duty on mechanically propelled vehicles (new rates). 33. Excise duties on mechanically propelled vehicles (conversion from horse-power to cubic centimetres). 34. Reduction of duty on motor vehicle parts and accessories. 35. Provisions relating to excise duty on table waters. 36. Amendment of Finance (New Duties) Act, 1916. 37. 38. Amendment of section 43 (gaming machine licence duty) of Finance Act, 1975. 39. Proceedings in excise cases in the District Court. 40. Confirmation of Orders. PART III Value-Added Tax 41. Interpretation ( Part III ). 42. Amendment of section 5 (rendering of services) of Principal Act. 43. Amendment of section 11 (rates of tax) of Principal Act. 44. Amendment of section 12A (special provisions for tax invoiced by flat-rate farmers) of Principal Act. 45. Amendment of section 13 (remission of tax on goods exported, etc.) of Principal Act. 46. Amendment of section 15 (charge of tax on imported goods) of Principal Act. 47. Amendment of section 23 (determination of tax due) of Principal Act. 48. Amendment of section 32 (regulations) of Principal Act. 49. Amendment of First Schedule to Principal Act. 50. Amendment of Second Schedule to Principal Act. 51. Miscellaneous amendments (Third, Sixth and Seventh Schedules) to Principal Act. 52. Amendment of Fourth Schedule to Principal Act. 53. 54. Deferment of increase in rate of tax (private dwellings). PART IV Stamp Duties 55. Levy on banks. 56. Cesser of section 86 (stamp duty on course bets) of Finance Act, 1980. 57. Amendment of section 93 (exemption of certain instruments from stamp duty) of Finance Act, 1982. PART V Capital Acquisitions Tax 58. Interpretation ( Part V ). 59. Exemption for spouses. 60. Relief in respect of certain policies of insurance. 61. Relief from double aggregation. 62. Allowance for prior tax on the same event. 63. Allowance for capital gains tax on the same event. 64. Amendment of section 106 (acquisitions by discretionary trusts) of Finance Act, 1984. 65. Amendment of section 108 (exemptions) of Finance Act, 1984. PART VI 66. Capital Services Redemption Account. 67. Payment of certain interest under State Financial Transactions (Special Provisions) Act, 1984. 68. Financial arrangements relating to Bord Telecom Éireann. 69. Securities issued by the Minister for Finance. 70. Care and management of taxes and duties. 71. Short title, construction and commencement. FIRST SCHEDULE Amendment of Enactments SECOND SCHEDULE Rates of Excise Duty on Tobacco Products Capital Acquisitions Tax Act, 1976 1976, No. 8 Central Bank Act, 1971 1971, No. 24 Companies Act, 1963 1963, No. 33 Corporation Tax Act, 1976 1976, No. 7 Excise Act, 1848 1848, c. 118 Finance Act, 1926 1926, No. 35 Finance Act, 1931 1931, No. 31 Finance Act, 1950 1950, No. 18 Finance Act, 1960 1960, No. 19 Finance Act, 1961 1961, No. 23 Finance Act, 1968 1968, No. 33 Finance Act, 1969 1969, No. 21 Finance Act, 1971 1971, No. 23 Finance Act, 1973 1973, No. 19 Finance Act, 1975 1975, No. 6 Finance Act, 1976 1976, No. 16 Finance Act, 1977 1977, No. 18 Finance Act, 1979 1979, No. 11 Finance Act, 1980 1980, No. 14 Finance Act, 1981 1981, No. 16 Finance Act, 1982 1982, No. 14 Finance Act, 1983 1983, No. 15 Finance Act, 1984 1984, No. 9 Finance (Excise Duties) (Vehicles) Act, 1952 1952, No. 24 Finance (Excise Duty on Tobacco Products) Act, 1977 1977, No. 32 Finance (Miscellaneous Provisions) Act, 1968 1968, No. 7 Finance (New Duties) Act, 1916 1916, c. 11 Housing Finance Agency Act, 1981 1981, No. 37 Income Tax Act, 1967 1967, No. 6 Insurance Act, 1936 1936, No. 45 Postal and Telecommunications Services Act, 1983 1983, No. 24 Preferential Payments in Bankruptcy (Ireland) Act, 1889 1889, c. 60 Road Traffic Act, 1961 1961, No. 24 Stamp Act, 1891 1891, c. 39 State Financial Transactions (Special Provisions) Act, 1984 1984, No. 23 Succession Duty Act, 1853 1853, c. 51 Value-Added Tax Act, 1972 1972, No. 22 Value-Added Tax (Amendment) Act, 1978 1978, No. 34 Vocational Education Act, 1930 1930, No. 29 10 1985 FINANCE ACT, 1985 AN ACT TO CHARGE AND IMPOSE CERTAIN DUTIES OF CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE), TO AMEND THE LAW RELATING TO CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE) AND TO MAKE FURTHER PROVISIONS IN CONNECTION WITH FINANCE. [30 th May , 1985] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: