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14 1980

FINANCE ACT, 1980

Chapter IV

Resource Tax

Charge of resource tax.

30. —(1) This section applies to any person (other than a body of persons, or a trust, established for charitable purposes only) who at any time during a year of assessment (being the year 1980-81 or any subsequent year of assessment) occupies, or is deemed to occupy, farm land the rateable valuation of which amounts to £70 or more.

(2) A tax, to be called resource tax, shall be charged upon any person to whom this section applies for any year of assessment, and shall be charged at the rate of £3.50 for every £1 of the rateable valuation of the farm land occupied by that person for that year.

Marginal relief.

31. —(1) Where, for any year of assessment, resource tax is chargeable upon farm land occupied by a person, the amount of resource tax so chargeable shall not exceed the amount determined by the formula—

T

×

V

__

10

where—

T is the amount of resource tax that would, but for the provisions of this section, be payable by the person for that year of assessment, and

V is 1 or, if greater, the number equivalent to the amount by which the rateable valuation of the farm land occupied by the person for the year of assessment exceeds £69.

(2) This section shall not apply in any case where the rateable valuation of the farm land occupied by a person at any time during the year of assessment exceeds £79.

Disallowance of resource tax for purposes of Tax Acts.

32. —Resource tax shall not be allowed in computing any income, profits or losses for any of the purposes of the Tax Acts.

Date of payment of resource tax.

33. —Resource tax contained in an assessment for any year of assessment shall be payable on or before the 1st day of October in that year except that resource tax included in an assessment for any year which is made on or after the 1st day of October shall be deemed to be due and payable on the day next after the day on which the assessment is made.

Assessment and collection of resource tax.

34. —(1) Assessments under this Chapter shall be made by inspectors of taxes appointed under section 161 of the Income Tax Act, 1967 , or by such other officers as the Revenue Commissioners shall appoint in that behalf.

(2) The Collector-General for the time being appointed under section 162 of the Income Tax Act, 1967 , shall collect and levy resource tax from time to time charged in all assessments made under the provisions of this Chapter.

Application of income tax provisions to resource tax and power to combine returns, etc.

35. —(1) All the provisions of the Income Tax Acts relating to the assessment, collection and recovery of income tax, to appeals against assessments and to cases to be stated for the opinion of the High Court shall, subject to any necessary modifications, apply in relation to resource tax as they apply in relation to income tax chargeable under Schedule D.

(2) Any return or assessment or other document relating to resource tax may be combined with any corresponding return, assessment or document relating to income or income tax or corporation tax.

Occupation of farm land for purposes of resource tax.

36. —For the purposes of this Part any question as to the rateable valuation of farm land occupied by a person at any particular time or as to the rateable valuation of farm land occupied by a person for a year of assessment shall be determined in the same manner and on the same basis as it would be determined in the case of an individual for the purposes of Chapter II of Part I of the Finance Act, 1974 , and in this Part “farm land” shall have the meaning assigned to it by that Chapter and “occupies” and “occupied” shall be construed in accordance with the meaning assigned to “occupation” by that Chapter:

Provided that, in determining the amount of the charge to tax in any case for any year of assessment under section 30 (2)—

(a) where—

(i) for the said year of assessment a person is chargeable to income tax or to corporation tax under Case V of Schedule D in respect of profits or gains from any rent or any receipts in respect of any easement in relation to any part of the farm land occupied by him, and

(ii) the said rent or the said receipts are, having regard to values prevailing at the time, not less than the amount which could have been obtained on the basis that the negotiations for the rent or the receipts had been at arm's length,

the said section 30 (2) shall not apply for that year of assessment to the rateable valuation of the part of the farm land from which the said profits or gains so chargeable under Case V of Schedule D arise,

(b) In relation to any farm land occupied, or deemed to be occupied, by a person in partnership with any other person or persons, there shall be taken into account for that year of assessment only that proportion of the rateable valuation of the farm land so occupied in partnership as bears to that rateable valuation the same proportion as his share of the partnership profits or losses, on an apportionment thereof made in accordance with the terms of the agreement as to the sharing of those profits or losses bears to the said profits or losses of the partnership.