Finance Act, 1995

Amendment of section 154 (deduction for income earned outside the State) of Finance Act, 1994.

170.—(1) Section 154 of the Finance Act, 1994 , is hereby amended in subsection (2) by the substitution of the following for the definition of “the specified amount”:

“‘the specified amount’ means an amount determined by the formula—

D × E




D is the number of qualifying days in the year of assessment concerned, and

E is all the income, profits or gains from an office, employment or pension whether chargeable under Schedule D or Schedule E (including income from offices or employments, the duties of which are performed in the State) of an individual in that year.”.

(2) This section shall be deemed to apply and have effect as on and from the 23rd day of May, 1994.