Exemption of certain earnings of writers, composers and artists.
17.— Section 195 of the Principal Act is amended in subsection (3)—
(a) in paragraph (a) by substituting “subject to paragraphs (aa) and (b)” for “subject to paragraph (b)”, and
(b) by inserting the following after paragraph (a):
“(aa) The amount of the profits or gains for a year of assessment which an individual shall be entitled to have disregarded for the purposes of the Income Tax Acts by virtue of paragraph (a) shall not exceed €40,000 for the year of assessment 2011 and each subsequent year of assessment.”.
