Finance Act, 1990
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Amendment of section 19 (industrial building allowance in relation to buildings and structures bought unused) of Finance Act, 1970 . |
75.— Section 19 (as amended by section 86 of the Finance Act, 1974 ) of the Finance Act, 1970 , is hereby amended by the insertion after subsection (2) of the following subsection: | |||||||
“(2A) For the purposes of subsections (1) and (2)— | ||||||||
‘expenditure incurred on the construction of a building or structure’ excludes any expenditure within the meaning of section 256 of the Income Tax Act, 1967 , | ||||||||
‘the net price paid’ means the amount represented by A in the equation— | ||||||||
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where | ||||||||
B is the amount paid by a person on the purchase of the relevant interest in a building or structure; | ||||||||
C is the amount of the expenditure actually incurred on the construction of the building or structure; | ||||||||
D is the amount of any expenditure actually incurred which is expenditure for the purposes of paragraph (a), (b) or (c) of section 256 of the Income Tax Act, 1967 .”. |