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22 1965

FINANCE ACT, 1965

PART X.

Miscellaneous.

Capital Services Redemption Account.

61. —(1) In this section—

the principal section” means section 22 of the Finance Act, 1950 ;

the 1964 amending section” means section 29 of the Finance Act, 1964 ;

the fifteenth additional annuity” means the sum charged on the Central Fund under subsection (4) of this section;

the Minister”, “the Account” and “capital services” have the same meanings respectively as they have in the principal section.

(2) Subsection (4) of the 1964 amending section shall, in relation to the twenty-nine successive financial years commencing with the financial year ending on the 31st day of March, 1966, have effect with the substitution of “£1,642,308” for “£1,588,036”.

(3) Subsection (6) of the 1964 amending section shall have effect with the substitution of “£1,041,884” for “£1,027,246”.

(4) A sum of £1,819,122 to redeem borrowings, and interest thereon, in respect of capital services shall be charged annually on the Central Fund or the growing produce thereof in the thirty successive financial years commencing with the financial year ending on the 31st day of March, 1966.

(5) The fifteenth additional annuity shall be paid into the Account in such manner and at such times in the relevant financial year as the Minister may determine.

(6) Any amount of the fifteenth additional annuity, not exceeding £1,176,735 in any financial year, may be applied towards defraying the interest on the public debt.

(7) The balance of the fifteenth additional annuity shall be applied in any one or more of the ways specified in subsection (6) of the principal section.

Amendment of section 11 of Finance Act, 1962.

62. Section 11 of the Finance Act, 1962 , is hereby amended by the substitution in subsections (1) and (2) of “the 31st day of March, 1968” for “the 31st day of March, 1965”.

Amendment of section 2 of Finance (Profits of Certain Mines) (Temporary Relief from Taxation) Act, 1956 .

63. Section 2 of the Finance (Profits of Certain Mines) (Temporary Relief from Taxation) Act, 1956 , is hereby amended by the substitution therein of “within the period of twenty years” for “within the period of ten years”.

Relief for certain gifts.

64. —(1) This section applies to a gift of money which, on or after the 6th day of April, 1965, is made to the Minister for Finance for use for any purposes for or towards the cost of which public moneys are provided and which is accepted by that Minister.

In this subsection “public moneys” means moneys charged on or issued out of the Central Fund or provided by the Oireachtas.

(2) Where a person who has made a gift to which this section applies claims relief from tax by reference thereto, the following provisions of this section shall have effect.

(3) For the purposes of income tax (including sur-tax) for the year of assessment in which the person makes the gift, the amount thereof shall be deducted from or set off against any income of the person chargeable to tax for that year and tax shall, where necessary, be discharged or repaid accordingly; and the total income of the person or, where the person is a married woman whose income is deemed to be the income of her husband, the total income of the husband shall be calculated accordingly.

In this subsection “total income” means total income from all sources estimated in accordance with the provisions of the Income Tax Acts.

(4) Where a gift to which this section applies is made by a company, the amount thereof shall be allowed as a deduction in computing for the purposes of corporation profits tax the profits of the company arising in the accounting period in which the gift is made.

Power of Special Commissioners to order payment of tax in assessments under appeal.

65. —(1) Where, on an appeal against an assessment to income tax or to corporation profits tax being brought before them for hearing, the Special Commissioners—

(a) on the oral or written application of the appellant, postpone the hearing, or

(b) having commenced the hearing, adjourn it, they may order that there shall be paid, notwithstanding the appeal, so much of the tax in the assessment as in their opinion, on the basis of the information available, is likely to become payable on or after the determination of the appeal.

(2) In relation to a case in which an order is made under subsection (1) of this section in the absence of the appellant, the following provisions shall have effect:

(a) the inspector of taxes or other officer of the Revenue Commissioners shall give notice in writing to the appellant of the making of the order;

(b) the appellant if aggrieved by the order may, within fourteen days after the date of the notice referred to in paragraph (a) of this subsection, make representations in writing to the Special Commissioners in regard to the order;

(c) the Special Commissioners, having considered any representations made to them in accordance with paragraph (b) of this subsection, may either confirm the order or make a revised order, and any such revised order shall supersede the first-mentioned order.

(3) Where the appeal brought before the Special Commissioners for hearing relates to an assessment to income tax (hereafter in this subsection referred to as the relevant assessment) that is one of a number of assessments (hereafter in this subsection referred to as the aggregated assessments) the tax in which is stated in one sum under subsection (1) of section 21 of the Finance Act, 1963 , the amount of tax in the relevant assessment shall, for the purposes of subsection (1) of this section, be arrived at by deducting from the said one sum the amount of tax, if any, which is payable under subsection (3) of the said section 21; and, where appeals against two or more of the aggregated assessments are brought before the Special Commissioners, the total amount of tax in those assessments shall be arrived at in like manner and the provisions of this section shall apply as if that total amount were an amount of tax in a single assessment.

(4) Where in relation to any assessment an amount of tax has been ordered to be paid under the foregoing provisions of this section—

(a) that amount shall be collected, paid and carry interest as if the appeal against the assessment had been determined when the order was made and the amount of tax specified by the order were the amount of tax chargeable in accordance with the determination, and

(b) on the determination of the appeal against the assessment, any balance of tax chargeable in accordance with the determination shall be paid, or any tax overpaid shall be repaid, as the case may require,

and, in a case to which subsection (2) of this section applies, the order shall, for the purposes of paragraph (a) of this subsection, be deemed to have been made on the date of the notice under paragraph (a) of the said subsection (2).

(5) Every reference in this section to an appellant includes a reference to a person acting on behalf of the appellant in relation to the appeal.

(6) Any of the powers conferred on the Special Commissioners by this section may be exercised by one Special Commissioner.

Repeals.

66. —(1) (a) Each enactment specified in column (2) of Part I of the Third Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(b) Paragraph (a) of this subsection shall be deemed to have come into operation on the 6th day of April, 1965.

(2) (a) The enactment specified in column (2) of Part II of the Third Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(b) Paragraph (a) of this subsection shall be deemed to have come into operation on the 11th day of May, 1965.

(3) (a) The enactment specified in column (2) of Part III of the Third Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(b) Paragraph (a) of this subsection shall be deemed to have come into operation on the 12th day of May, 1965.

(4) Each enactment specified in column (2) of Part IV of the Third Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(5) (a) Each enactment specified in column (2) of Part V of the Third Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(b) Paragraph (a) of this subsection shall have effect only in relation to a legacy derived from a testator or intestate dying after the passing of this Act and to a succession conferred after such passing and for this purpose the expression “legacy” includes residue or share of residue.

(c) The enactment specified in column (2) of Part VI of the Third Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(d) Paragraph (c) of this subsection shall have effect only in relation to persons dying after the passing of this Act.

(6) (a) The enactment specified in column (2) of Part VII of the Third Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(b) Paragraph (a) of this subsection shall come into operation—

(i) if this Act is passed before or in July, 1965—on the 1st day of August, 1965, and

(ii) if it is passed in or after August, 1965—on the 1st day of the month next following that in which it is passed.

(7) (a) Each enactment specified in column (2) of Part VIII of the Third Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(b) Notwithstanding paragraph (a) of this subsection, the stamp duties chargeable on an instrument which for the purposes of paragraph (a) of subsection (3) of section 45 of the Land Act, 1965 , contains a certificate that the instrument is consequent upon a contract entered into before the passing of that Act, shall be the same as if this Act had not been passed, and for that purpose the repeals effected by paragraph (a) of this subsection shall be deemed not to have been effected.

(c) Paragraphs (a) and (b) of this subsection shall come into operation on the 1st day of August, 1965, or the date of the passing of this Act, whichever is the later.

(8) (a) Each enactment specified in column (2) of Part IX of the Third Schedule to this Act is hereby repealed to the extent specified in column (3) of that Part.

(b) Paragraph (a) of this subsection shall come into operation on the 6th day of July, 1966.

Care and management of taxes and duties.

67. —All taxes and duties imposed by this Act are hereby placed under the care and management of the Revenue Commissioners.

Short title, construction and commencement.

68. —(1) This Act may be cited as the Finance Act, 1965 .

(2) Parts I , VII , VIII and IX and sections 64 and 65 (so far as they relate to income tax) of this Act shall be construed together with the Income Tax Acts.

(3) Part II of this Act, so far as it relates to duties of customs, shall be construed together with the Customs Acts and, so far as it relates to duties of excise, shall be construed together with the Statutes which relate to the duties of excise and the management of those duties.

(4) Part IV of this Act shall be construed together with the Stamp Act, 1891, and the enactments amending or extending that Act.

(5) Part V and sections 64 and 65 (so far as they relate to corporation profits tax) of this Act shall be construed together with Part V of the Finance Act, 1920, and the enactments amending or extending that Part.

(6) Part VI of this Act shall be construed together with Part VI of the Finance Act, 1963 .

(7) Parts I , VII , VIII and IX of this Act shall, save as is otherwise expressly provided therein, be deemed to come into force and shall take effect as on and from the 6th day of April, 1965.

(8) Any reference in this Act to any other enactment shall, except so far as the context otherwise requires, be construed as a reference to that enactment as amended by or under any other enactment, including this Act.