| Links from Section 683 | ||
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| Act | Linked to | Context |
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Minerals Development Act 1979 |
(5) Where a right to compensation under section 20 of the Minerals Development Act 1979 is vested in a person and the Minister for Communications, Climate Action and Environment pays compensation to that person in respect of that right to compensation, that person shall be deemed for the purposes of this section to have sold a scheduled mineral asset for a capital sum equal to the amount of compensation paid to that person, and subsections (2) to (4) shall apply to the compensation as they apply to a capital sum received in respect of a sale of a scheduled mineral asset. |
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section 20 |
(5) Where a right to compensation under section 20 of the Minerals Development Act 1979 is vested in a person and the Minister for Communications, Climate Action and Environment pays compensation to that person in respect of that right to compensation, that person shall be deemed for the purposes of this section to have sold a scheduled mineral asset for a capital sum equal to the amount of compensation paid to that person, and subsections (2) to (4) shall apply to the compensation as they apply to a capital sum received in respect of a sale of a scheduled mineral asset. |
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Taxes Consolidation Act, 1997 |
(2) Where a person resident in the State sells any scheduled mineral asset and the net proceeds of the sale consist wholly or partly of a capital sum, the person shall, subject to this section, be charged to tax under Case IV of Schedule D for the chargeable period in which the sum is received by the person on an amount equal to that sum; but where the person is an individual who, not later than 24 months after the end of the year of assessment in which the sum is paid, elects by notice in writing to the inspector to be charged to tax for that year of assessment and for each of the 5 succeeding years of assessment on an amount equal to one-sixth of that sum, the person shall be so charged. |
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Taxes Consolidation Act, 1997 |
(i) the person shall be charged to tax in respect of that sum under Case IV of Schedule D for the chargeable period in which the sum is received by the person, and |
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Taxes Consolidation Act, 1997 |
(ii) section 238 shall apply to that sum as if it were an annual payment payable otherwise than out of profits or gains brought into charge to tax. |
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Taxes Consolidation Act, 1997 |
(i) the election shall not affect the amount of tax to be deducted and accounted for under section 238, |
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Taxes Consolidation Act, 1997 |
(ii) where any sum is deducted under section 238, any adjustments necessary to give effect to the election shall be made by means of repayment of tax, and |
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Taxes Consolidation Act, 1997 |
(4) Where the scheduled mineral asset sold by a person was acquired by the person by purchase and the price paid consisted wholly or partly of a capital sum, subsections (2) and (3) shall apply as if any capital sum received by the person when the person sells the asset were reduced by the amount of that sum; but nothing in this subsection shall affect the amount of tax to be deducted and accounted for under section 238 by virtue of subsection (3), and where any sum is deducted under section 238 any adjustment necessary to give effect to this subsection shall be made by means of repayment of tax. |
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Taxes Consolidation Act, 1997 |
(4) Where the scheduled mineral asset sold by a person was acquired by the person by purchase and the price paid consisted wholly or partly of a capital sum, subsections (2) and (3) shall apply as if any capital sum received by the person when the person sells the asset were reduced by the amount of that sum; but nothing in this subsection shall affect the amount of tax to be deducted and accounted for under section 238 by virtue of subsection (3), and where any sum is deducted under section 238 any adjustment necessary to give effect to this subsection shall be made by means of repayment of tax. |
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| Links to Section 683 (from within TaxSource Total) | ||
| Act | Linked from | Context |
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Taxes Consolidation Act, 1997 |
672 Interpretation (sections 672 to 683). |
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Taxes Consolidation Act, 1997 |
(1) In this section and in sections 673 to 683, except where otherwise provided or the context otherwise requires— |
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Taxes Consolidation Act, 1997 |
(2) Except where provided for in sections 674 to 676, expenditure shall not be regarded for the purposes of this section and sections 673 to 683 as having been incurred by a person carrying on the trade of working a qualifying mine in so far as the expenditure has been or is to be met directly or indirectly out of moneys provided by the Oireachtas or by any other person (not being a person who has carried on the trade of working that mine). |
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Taxes Consolidation Act, 1997 |
and, in a case where that expenditure was incurred on a date before the incorporation of the body corporate so specified, sections 672 to 683 shall apply in relation to the granting of any allowance in respect of that expenditure as if that body corporate had been in existence at the time the expenditure was incurred and had incurred the expenditure at that time. |
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Taxes Consolidation Act, 1997 |
(b) without having carried on any trade which consists of or includes the working of that deposit and without any allowance or deduction under or by virtue of sections 672 to 683 having been made to the person in respect of that expenditure, the person sells any assets representing that expenditure to another person, |
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Taxes Consolidation Act, 1997 |
then, if that other person carries on such a trade in connection with that deposit, that other person shall for the purposes of sections 672 to 683 be deemed to have incurred, for the purposes of the trade and in connection with the deposit, exploration expenditure equal to the lesser of— |
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Taxes Consolidation Act, 1997 |
the company shall be deemed for the purposes of sections 673, 674(3), 677 and 678 and the other provisions of the Tax Acts, apart from section 672, subsections (1), (2) and (4) of section 674 and sections 675, 676, 680, 681, 682 and 683— |
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