| Links from Section 288 | ||
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| Act | Linked to | Context |
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Income Tax Act, 1967 |
(i) in relation to any expenditure incurred before the 6th day of April, 1965, the total amount of any allowances made in respect of that expenditure under section 244(3) of the Income Tax Act, 1967, increased by the amount of any allowance made under section 244(4)(b) of that Act or, as the case may be, reduced by any amount treated as a trading receipt in accordance with section 244(4)(c) of that Act, and |
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Income Tax Act, 1967 |
(i) in relation to any expenditure incurred before the 6th day of April, 1965, the total amount of any allowances made in respect of that expenditure under section 244(3) of the Income Tax Act, 1967, increased by the amount of any allowance made under section 244(4)(b) of that Act or, as the case may be, reduced by any amount treated as a trading receipt in accordance with section 244(4)(c) of that Act, and |
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Income Tax Act, 1967 |
(i) in relation to any expenditure incurred before the 6th day of April, 1965, the total amount of any allowances made in respect of that expenditure under section 244(3) of the Income Tax Act, 1967, increased by the amount of any allowance made under section 244(4)(b) of that Act or, as the case may be, reduced by any amount treated as a trading receipt in accordance with section 244(4)(c) of that Act, and |
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Income Tax Act, 1967 |
(i) in relation to any expenditure incurred before the 6th day of April, 1965, the total amount of any allowances made in respect of that expenditure under section 244(3) of the Income Tax Act, 1967, increased by the amount of any allowance made under section 244(4)(b) of that Act or, as the case may be, reduced by any amount treated as a trading receipt in accordance with section 244(4)(c) of that Act, and |
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Taxes Consolidation Act, 1997 |
(a) that event, or any scheme or arrangement which includes that event, results in a company which is connected (within the meaning of section 10) with the first-mentioned company incurring capital expenditure on the specified intangible asset, and |
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Taxes Consolidation Act, 1997 |
(d) in the case of machinery or plant consisting of
a specified intangible asset within the meaning of section 291A,
computer software or the right to use or otherwise deal with computer software, any event whereby the person grants to another
person a right to use or otherwise deal with the whole or part of the
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Taxes Consolidation Act, 1997 |
(3C) Notwithstanding subsection (3), a balancing charge shall not be made by reference to a wear and tear allowance made to a company (in this subsection referred to as the ‘first-mentioned company’) in respect of capital expenditure incurred on the provision of a specified intangible asset (within the meaning of section 291A) where an event referred to in subsection (1) occurs more than 5 years after the beginning of the accounting period of the company in which the asset was first provided, but if— |
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Taxes Consolidation Act, 1997 |
(ii) in relation to any expenditure incurred on or after the 6th day of April, 1965, the amount of any allowance made in respect of that expenditure under subsection (1) or (2) of section 765, reduced by any amount treated as a trading receipt in accordance with section 765(3)(a). |
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Taxes Consolidation Act, 1997 |
(ii) in relation to any expenditure incurred on or after the 6th day of April, 1965, the amount of any allowance made in respect of that expenditure under subsection (1) or (2) of section 765, reduced by any amount treated as a trading receipt in accordance with section 765(3)(a). |
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| Links to Section 288 (from within TaxSource Total) | ||
| Act | Linked from | Context |
|
Taxes Consolidation Act, 1997 |
(i) no balancing charge or balancing allowance shall be made under section 288 as a result of the machinery or plant concerned being used for the purposes of the company’s tonnage tax trade, |
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Taxes Consolidation Act, 1997 |
(i) no balancing allowance shall be made on the company under section 288(2) for any period in which the company is subject to tonnage tax, |
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Taxes Consolidation Act, 1997 |
(ii) for the purposes of making a balancing charge under section 288 on the happening of any of the events referred to in subsection (1) of that section— |
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Taxes Consolidation Act, 1997 |
(III) where the event occurs at a time when the company is subject to tonnage tax, the references in section 288 to sale, insurance, salvage or compensation moneys and the reference in section 289(3)(b) to the open-market price of the machinery or plant shall be taken to be references to the least of— |
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Taxes Consolidation Act, 1997 |
(b) for the purposes of making a balancing charge under section 288 on the happening subsequent to the change in use of any of the events referred to in subsection (1) of that section— |
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Taxes Consolidation Act, 1997 |
(iii) where the event occurs at a time when the asset is so used, the references in section 288 to sale, insurance, salvage or compensation moneys and the reference in section 289(3)(b) to the open-market value of the machinery or plant shall be taken to be references to the least of— |
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Taxes Consolidation Act, 1997 |
(2) Where an event referred to in section 288(1) occurs in relation to the new asset in the period in which the company which incurs the expenditure on the new asset is subject to tonnage tax then a balancing charge shall be made under this paragraph on that company. |
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Taxes Consolidation Act, 1997 |
Section 288 (balancing allowances and balancing charges) subject to section 485C(1B). |
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Taxes Consolidation Act, 1997 |
An amount equal to the amount of the balancing allowance (within the meaning of section 288) made to an individual for the tax year under section 288 in relation to specified plant and machinery. |
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Taxes Consolidation Act, 1997 |
An amount equal to the amount of the balancing allowance (within the meaning of section 288) made to an individual for the tax year under section 288 in relation to specified plant and machinery. |
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Taxes Consolidation Act, 1997 |
(6) The disposal of the borrower’s interest in the asset to the financial undertaking, in the circumstances referred to in paragraph (c)(ii) of the definition of “credit transaction” in section 267N, shall not be construed as an event giving rise to an allowance or charge, as the case may be, within the meaning of section 274 or 288. |
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Taxes Consolidation Act, 1997 |
Where machinery or plant, in the case of which any of the events mentioned in section 288(1) has occurred, is replaced by the owner of the machinery or plant and a balancing charge is to be made on that owner by reason of that event, or but for this section a balancing charge would have been made on that owner by reason of that event, then, if by notice in writing to the inspector that owner so elects, the following provisions shall apply: |
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Taxes Consolidation Act, 1997 |
(c) any scientific research allowance (within the meaning of section 288(4)(a)) made to that person in respect of the expenditure, and |
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Taxes Consolidation Act, 1997 |
(b) Notwithstanding paragraph (a), in applying section 288(4) to any balancing charge to be made in accordance with that paragraph, the allowances made in respect of the machinery or plant for the year beginning on the 6th day of April, 1959, or for any earlier year of assessment shall not be taken to include allowances made to, or attributable to the shares of, persons who were not, either alone or in partnership with other persons, carrying on the trade at the beginning of the year beginning on the 6th day of April, 1959. |
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Taxes Consolidation Act, 1997 |
(3) Notwithstanding section 288, a sale or gift of machinery or plant used for the purposes of a trade carried on in partnership, being a sale or gift by one or more of the partners to one or more of the partners, shall not be treated as an event giving rise to a balancing allowance or balancing charge if the machinery or plant continues to be used after the sale or gift for the purposes of that trade. |
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Taxes Consolidation Act, 1997 |
(5) Nothing in this section shall affect section 288(4). |
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Taxes Consolidation Act, 1997 |
(2) Nothing in this section shall affect section 288(4). |
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Taxes Consolidation Act, 1997 |
(c) Subject to paragraph (d), a balancing allowance arising under section 288 shall only be a specified relief to the extent it relates to specified plant and machinery. |
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Taxes Consolidation Act, 1997 |
(5) Nothing in this section shall affect section 288(4). |
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Taxes Consolidation Act, 1997 |
(b) any allowances to be made to the acquirer in respect of capital expenditure incurred on a specified intangible asset to which section 291A applies in circumstances where, under section 288(3C), the amount of that expenditure is deemed, for the purposes of Chapters 2 and 4 of Part 9, to be the amount of expenditure still unallowed on the specified intangible asset, |
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