Number 22/1956: FINANCE ACT, 1956

Next (PART I. Income Tax.)

22 1956

[GA]

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Number 22 of 1956.

[GA]

FINANCE ACT, 1956.

ARRANGEMENT OF SECTIONS

PART I.

INCOME TAX.

Section
1.	Income tax and sur-tax for the year 1956-57.
2.	Amendment of section 32 of Income Tax Act, 1918.
3.	Exemption of certain interest.
4.	Increase of personal allowance for married man.
5.	Deductions in respect of children.
6.	Increase of deduction in respect of dependent relative.
7.	Amendment of section 7 of Finance Act, 1932.

PART II.

CUSTOMS AND EXCISE.

PART III.

DEATH DUTIES.

21.	Relief from estate duty—certain stocks, shares or securities.

PART IV.

CORPORATION PROFITS TAX.

22.	Continuance of certain exemptions from corporation profits tax.

PART V.

INITIAL ALLOWANCES: INCOME TAX, SUR-TAX AND CORPORATION PROFITS TAX.

23.	Initial allowances.
24.	Amendment of allowances under Rules 6 and 7 of Rules applicable to Cases I and II of Schedule D.
25.	Meaning of “basis period.”
26.	Application to professions, etc.
27.	Initial allowances in relation to corporation profits tax.
28.	Construction of this Part of this Act.

PART VI.

STAMP DUTIES.

29.	Stamp duty to be levied on the Racing Board.
30.	Amendment of section 13 of Finance (No. 2) Act, 1947.
31.	Amendment of section 24 of Finance Act, 1949.

PART VII.

MISCELLANEOUS AND GENERAL.

32.	Transfer from Road Fund to Capital Fund.
33.	Capital Services Redemption Account.
34.	Exemption from taxation—certain stocks or other securities.
35.	Amendment of section 8 of Superannuation Act, 1887.
36.	Care and management of taxes and duties.
37.	Short title, construction and commencement.

FIRST SCHEDULE.

Duties on Tobacco.

SECOND SCHEDULE.

Duties on Matches.

Acts Referred to
Finance Act, 1929	No. 32 of 1929
Adoption Act, 1952	No. 25 of 1952
Finance Act, 1932	No. 20 of 1932
Finance Act, 1934	No. 31 of 1934
Finance Act, 1952	No. 14 of 1952
Finance Act, 1940	No. 14 of 1940
Finance Act, 1950	No. 18 of 1950
Finance Act, 1949	No. 13 of 1949
Finance (Customs Duties) (No. 4) Act, 1931	No. 43 of 1931
Finance (Miscellaneous Provisions) Act, 1935	No. 7 of 1935
Finance Act, 1935	No. 28 of 1935
Finance Act, 1945	No. 20 of 1945
Finance Act, 1954	No. 22 of 1954
Finance Act, 1926	No. 35 of 1926
Finance Act, 1931	No. 31 of 1931
Finance Act, 1941	No. 14 of 1941
Finance Act, 1924	No. 27 of 1924
Gaming and Lotteries Act, 1956	No. 2 of 1956
Finance Act, 1933	No. 15 of 1933
Finance (Customs Duties) (No. 4) Act, 1932	No. 34 of 1932
Finance Act, 1944	No. 18 of 1944
Finance Act, 1937	No. 18 of 1937
Finance (No. 2) Act, 1947	No. 33 of 1947
Finance Act, 1955	No. 13 of 1955
Imposition of Duties (No. 370) (Special Import Levy) Order, 1956	(S.I. No. 45 of 1956)
Imposition of Duties (No. 379) (Special Import Levy) (Amendment) Order, 1956	(S.I. No. 132 of 1956)

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Number 22 of 1956.

FINANCE ACT, 1956.

AN ACT TO CHARGE AND IMPOSE CERTAIN DUTIES OF CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE), TO AMEND THE LAW RELATING TO CUSTOMS AND INLAND REVENUE (INCLUDING EXCISE) AND TO MAKE FURTHER PROVISIONS IN CONNECTION WITH FINANCE. [10th July, 1956.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—