First Previous (INCOME TAX ACT, 1967) Next (Chapter II Preliminary)

6 1967

INCOME TAX ACT, 1967

PART I

Interpretation and Preliminary

Chapter I

Interpretation

Interpretation generally.

1. —(1) In this Act, except so far as is otherwise provided or the context otherwise requires—

annuity fund” means, where an annuity fund is not kept separately from the life assurance fund of an assurance company, such part of the life assurance fund as represents the liability of the company under its annuity contracts, as stated in its periodical returns under the Assurance Companies Act, 1909;

assessable income” in the case of any income other than earned income means the amount of that income as estimated in accordance with the provisions of this Act;

assurance company” means any persons or bodies of persons to which the Assurance Companies Act, 1909, applies;

body of persons” means any body politic, corporate, or collegiate, and any company, fraternity, fellowship and society of persons, whether corporate or not corporate;

Clerk to the Special Commissioners” means the person for the time being authorised by the Special Commissioners to act as such;

Collector” means the Collector-General appointed under section 162;

commencement of this Act” means the 6th day of April, 1967: being the date on which, subject to and in accordance with section 554 , this Act comes into force;

county rate” has the meaning assigned to it by section 12 of the Local Government Act, 1946 ;

foreign life assurance fund” means any fund representing the amount of the liability of an assurance company in respect of its life assurance business with policy-holders and annuitants residing outside the State whose proposals were made to, or whose annuity contracts were granted by, the company at or through a branch or agency outside the State, and, where such a fund is not kept separately from the life assurance fund of the company, means such part of the life assurance fund as represents the liability of the company under such policies and annuity contracts; such liability being estimated in the same manner as it is estimated for the purposes of the periodical returns of the company under the Assurance Companies Act, 1909;

incapacitated person” means any infant or person of unsound mind;

inspector” means an inspector of taxes appointed under section 161;

life assurance business” includes the business of granting annuities;

local authority” means—

(a) the corporation of a county or other borough,

(b) the council of a county, or

(c) the council of an urban district;

municipal rate” has the meaning assigned to it by section 46;

the National Debt Commissioners” has the meaning assigned to it by section 31 of the Finance Act, 1940 ;

profession” includes vocation;

rating authority” means—

(a) the corporation of a county or other borough,

(b) the council of a county, or

(c) the council of an urban district;

relative” includes any person of whom the person claiming a deduction had the custody and whom he maintained at his own expense while that person was under the age of sixteen years;

repealed enactments” has the meaning assigned to it by section 554 (1);

Special Commissioners” has the meaning assigned to it by section 156;

standard rate of tax” means the full rate of income tax charged for the year;

statute” has the meaning assigned to it by section 3 of the Interpretation Act, 1937 ;

tax” means income tax or sur-tax;

taxable income” has the meaning assigned to it by section 137 (1);

trade” includes every trade, manufacture, adventure or concern in the nature of trade;

year of assessment” means, with reference to any tax, the year for which such tax was imposed by any Act imposing duties of income tax.

the year 1967-68” means the year of assessment beginning on the 6th day of April, 1967, and any corresponding expression in which two years are similarly mentioned means the year of assessment beginning on the 6th day of April in the first mentioned of those two years.

(2) References in this Act to any enactment shall, unless the context otherwise requires, be construed as references to that enactment as amended or extended by any subsequent enactment.

(3) In this Act, a reference to a Part, section or schedule is to a Part or section of, or schedule to, this Act, unless it is indicated that reference to some other enactment is intended.

(4) In this Act, a reference to a subsection, paragraph or subparagraph is to the subsection, paragraph or subparagraph of the provision (including a schedule) in which the reference occurs, unless it is indicated that reference to some other provision is intended.

(5) So much of this Act as relates to corporation profits tax shall be construed together with Part V of the Finance Act, 1920, and the enactments amending or extending that Part.

Earned income.

2. —(1) Subject to subsection (2), in this Act “earned income” means, in relation to any individual—

(a) any income arising in respect of any remuneration from any office or employment of profit held by the individual, or in respect of any pension, superannuation, or other allowance, deferred pay, or compensation for loss of office, given in respect of the past services of the individual or of the husband or parent of the individual in any office or employment of profit, or given to the individual in respect of the past services of any deceased person, whether the individual or husband or parent of the individual shall have contributed to such pension, superannuation allowance, or deferred pay, or not; and

(b) any income from any property which is attached to or forms part of the emoluments of any office or employment of profit held by the individual; and

(c) any income which is charged under Schedule B or Schedule D, and is immediately derived by the individual from the carrying on or exercise by him of his trade or profession, either as an individual, or, in the case of a partnership, as a partner personally acting therein.

In cases where the profits of a wife are deemed to be profits of the husband, any reference in this subsection to the individual includes either the husband or the wife.

(2) Without prejudice to the generality of subsection (1), in this Act, save so far as otherwise expressly provided, “earned income” includes—

(a) any income arising in respect of Civil List pensions granted under the Civil List Act, 1837, as amended by any subsequent enactment;

(b) any payments of benefits which, by virtue of section 224 (4), are deemed to be emoluments to which Chapter IV of Part V applies;

(c) in considering whether any, and if so what, relief is to be granted to an individual under section 134 or under section 138 (3), any income from patent rights (as defined in section 284) arising to an individual where the patent was granted for an invention actually devised by him, whether alone or jointly with any other person;

(d) in the case of a clergyman or minister of any religious denomination who has made such an election as respects the annual value of the house occupied by him as is provided for by section 548, any sum which falls to be treated as earned income of his by virtue of that election;

(e) any annuity made payable to an individual by the terms of an annuity contract or trust scheme for the time being approved by the Revenue Commissioners for the purposes of Chapter III of Part XII, to the extent to which such annuity is payable in return for any amount on which relief is given under section 236; and

(f) any payment which is chargeable to tax under Schedule E by virtue of section 114;

Provided that in the case of income from any such patent rights as are mentioned in paragraph (c), where any part of the rights in question or of any rights out of which they were granted has at any time belonged to any other person, so much only of the said income shall be deemed to be earned income as is not properly attributable to the rights which have belonged to that other person.

Income Tax Acts”.

3. —In any enactment passed after this Act “the Income Tax Acts” shall mean this Act and every other enactment relating to income tax or sur-tax.