Finance Act, 1934

Cesser of certain allowances for repairs.

2.—(1) Rules 7 and 8 (which relate to certain allowances for repairs and maintenance) of No. V (Rules in respect of deductions and allowances) of Schedule A of the Income Tax Act, 1918, as amended by subsequent enactments, shall cease to have effect in respect of any assessment other than an assessment on any lands or on any farmhouse or farm buildings occupied together with any lands for the purpose of farming such lands or on any premises being mills, factories, or other similar premises.

(2) Where the Revenue Commissioners are satisfied, in respect of any house or building of which the annual value ascertained in accordance with section 187 of the Income Tax Act, 1918, does not exceed five pounds, that—

(a) such house or building is bona fide let to a tenant, and

(b) the cost of the repairs, maintenance, and insurance of such house or building is borne by the landlord or immediate lessor, and

(c) the annual income derived by the said landlord or immediate lessor from such house or building, taking one year with another, after making allowances for the cost to him of the said repairs, maintenance, and insurance is less than the annual value ascertained as aforesaid of such house or building,

the Revenue Commissioners may grant such relief by repayment or otherwise, as is just.