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Amendment of section 486C of Principal Act (relief from tax for certain start-up companies)
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34. Section 486C of the Principal Act is amended—
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(a) in subsection (1)(a), by the substitution of the following definition for the definition of “relevant period”:
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“ ‘relevant period’, in relation to a qualifying trade, means the period beginning on the day the company commences to carry on the qualifying trade and ending—
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(i) 5 years after that date where the company commences to carry on the qualifying trade on or after 1 January 2018, or
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(ii) 3 years after that date in all other cases;”,
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and
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(b) in subsection (2)(a), by the substitution of “31 December 2026” for “31 December 2021”.
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