Finance Act, 1965

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Number 22 of 1965.


FINANCE ACT, 1965


ARRANGEMENT OF SECTIONS

Part I

INCOME TAX

Section

1.

Income tax and sur-tax for the year 1965-66.

2.

Amendment of section 5 of Finance Act, 1946.

3.

Separate assessments under Schedule A or Schedule B in certain cases.

4.

Making of claims, etc., and appeals and rehearings.

5.

Amendment of section 5 of Finance Act, 1929.

6.

Exports relief.

7.

Amendment of Rule 7 (1) of Miscellaneous Rules applicable to Schedule D.

8.

Amendment of section 2 (3) of Finance Act, 1924.

9.

Amendment of Rule (2) of Part II of First Schedule, Finance Act, 1929.

10.

Amendment of section 3 (1) (2) of Finance Act, 1956.

11.

Amendment of paragraph (a) of proviso to section 17 of Finance Act, 1963.

Part II

CUSTOMS AND EXCISE

12.

Beer.

13.

Spirits.

14.

Hydrocarbon oils.

15.

Tobacco.

16.

Wine.

17.

Amendment of section 38 of Finance Act, 1932.

18.

Pawnbrokers' licences.

19.

Amendment of section 1 (2) (b) of Finance (Excise Duties) (Vehicles) Act, 1952.

Part III

DEATH DUTIES

20.

Dispositions in favour of certain companies, etc.

21.

Discretionary trusts.

22.

Amendment of section 2 (2) of Finance Act, 1894.

23.

Extension of section 30 of Finance Act, 1941, etc.

24.

Benefits accruing pursuant to superannuation schemes.

25.

Cesser of proviso to section 4 of Finance Act, 1894, except with respect to certain property.

26.

Provisions relating to certain policies of assurance.

27.

Amendment of section 59 of Finance (1909-10) Act, 1910, and certain other enactments.

28.

Amendment of section 59 (2) of Finance 1909-10) Act, 1910, section 27 (a) of Finance Act, 1938, and section 24 (3) (a) of Finance Act, 1961.

29.

Abatement of estate duty.

30.

Abolition of legacy and succession duty in certain cases.

Part IV

STAMP DUTIES

31.

Relief from capital and transfer stamp duty in case of reconstructions or amalgamations of companies.

Part V

CORPORATION PROFITS TAX

32.

Continuance of certain exemptions from corporation profits tax.

33.

Exports relief.

34.

Cesser of section 14 of Finance Act, 1944.

35.

Provisions in connection with Part IX of Finance Act, 1963.

Part VI

TURNOVER TAX

36.

Amendment of section 47 of Finance Act, 1963.

37.

Amendment of section 48 of Finance Act, 1963.

38.

Amendment of First Schedule to Finance Act, 1963.

39.

Determination as to whether activity is exempted.

40.

Procedure where claim is required to be referred to Special Commissioners of Income Tax.

Part VII

PROFITS OR GAINS FROM DEALING IN OR DEVELOPING LAND: INCOME TAX AND SUR-TAX

41.

Interpretation (Part VII).

42.

Extension of Schedule D charge to certain profits from dealing in or developing land.

43.

Computation under Case I of Schedule D of profits or gains from dealing in or developing land.

44.

Computation under Case VI of Schedule D of profits or gains from dealing in or developing land.

45.

Transfers of interests in land between certain associated persons.

46.

Tax to be charged under Case VI of Schedule D in relation to the sale of certain shares.

47.

Application of section 46 to sales of shares in holding companies.

48.

Provisions supplementary to sections 46 and 47.

Part VIII

TRADES, PROFESSIONS AND VOCATIONS CARRIED ON IN PARTNERSHIP: INCOME TAX AND SUR-TAX

49.

Interpretation (Part VIII).

50.

Power to require return as to sources of partnership income and amounts derived therefrom.

51.

Separate assessment of partners.

52.

Capital allowances and balancing charges in partnership cases.

53.

Modification of provisions as to appeals.

54.

Provision as to charges under section 50 of Finance Act, 1959.

55.

Miscellaneous amendments.

Part IX

AMENDMENT OF PART IX OF FINANCE ACT, 1963: INCOME TAX AND SUR-TAX

56.

Amendment of section 83 of Finance Act, 1963.

57.

Certain leases to be deemed to have required payments of premiums.

58.

Charge on assignment of lease granted at undervalue and charge on sale of land with right to reconveyance.

59.

Amendment of section 92 of Finance Act, 1963.

60.

Amendment of section 93 of Finance Act, 1963.

Part X

MISCELLANEOUS

61.

Capital Services Redemption Account.

62.

Amendment of section 11 of Finance Act, 1962.

63.

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

64.

Relief for certain gifts.

65.

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

66.

Repeals.

67.

Care and management of taxes and duties.

68.

Short title, construction and commencement.

FIRST SCHEDULE

SPIRITS (RATES OF ORDINARY CUSTOMS DUTY)

SECOND SCHEDULE

DUTIES ON TOBACCO

Part I —CUSTOMS

Part II —EXCISE

THIRD SCHEDULE

ENACTMENTS REPEALED

Acts Referred to

Finance Act, 1946

1946, No. 15

Finance Act, 1959

1959, No. 18

Income Tax Act, 1918

1918, c. 40

Finance Act, 1922

1922, c. 17

Finance Act, 1929

1929, No. 32

Finance Act, 1924

1924, No. 27

Finance Act, 1925

1925, No. 28

Finance Act, 1926

1926, No. 35

Finance Act, 1953

1953, No. 21

Finance Act, 1923

1923, No. 21

Finance (Miscellaneous Provisions) Act, 1956

1956, No. 47

Finance Act, 1958

1958, No. 25

Finance Act, 1960

1960, No. 19

Finance Act, 1956

1956, No. 22

Finance Act, 1963

1963, No. 23

Finance Act, 1964

1964, No. 15

Finance Act, 1933

1933, No. 15

Finance Act, 1920

1920, c. 18

Finance Act, 1962

1962, No. 15

Finance (Customs Duties) (No. 4) Act, 1931

1931, No. 43

Imposition of Duties (No. 84) (Hydrocarbon Oils) (Customs Duties) Order, 1959

S.I. No. 219 of 1959

Finance Act, 1957

1957, No. 20

Finance Act, 1932

1932, No. 20

Finance Act, 1934

1934, No. 31

Finance Act, 1940

1940, No. 14

Finance Act, 1948

1948, No. 12

Finance Act, 1949

1949, No. 13

Pawnbrokers Act, 1964

1964, No. 31

Finance (Excise Duties) (Vehicles) Act, 1952

1952, No. 24

Finance Act, 1941

1941, No. 14

Finance Act, 1894

1894, c. 30

Finance (1909-10) Act, 1910

1910, c. 8

Finance Act, 1914

1914 (Sess. 1), c. 10

Finance Act, 1955

1955, No. 13

Customs and Inland Revenue Act, 1889

1889, c. 7

Finance Act, 1961

1961, No. 23

Finance Act, 1938

1938, No. 25

Stamp Act, 1891

1891, c. 39

Finance Act, 1895

1895, c. 16

Companies Act, 1963

1963, No. 33

Finance Act, 1944

1944, No. 18

Finance Act, 1942

1942, No. 14

Finance Act, 1950

1950, No. 18

Land Act, 1965

1965, No. 2

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Number 22 of 1965.


FINANCE ACT, 1965


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. [30th July, 1965.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS :—