Taxes Consolidation Act, 1997 (Number 39 of 1997)
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372AS Determination of expenditure incurred in qualifying period, and date expenditure treated as incurred for relief purposes.
(1) For the purposes of determining whether and to what extent—
(a) in relation to any claim under section 372AP(2), eligible expenditure incurred on or in relation to a qualifying premises or a special qualifying premises, and
(b) in relation to any claim under section 372AR(1), qualifying expenditure incurred on or in relation to a qualifying premises,
is incurred or not incurred during the qualifying period, only such an amount of that expenditure as is properly attributable to work on—
(i) in the case of a claim under section 372AP(2), the construction of, conversion into, or refurbishment of, the qualifying premises or, as the case may be, the refurbishment of the special qualifying premises, and
(ii) in the case of a claim under section 372AR(1), the construction of, conversion into, or refurbishment of the qualifying premises,
actually carried out during the qualifying period shall be treated as having been incurred during that period.
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(1A) (a) Where a person incurs eligible expenditure or qualifying expenditure at any time in the period 1 January 2006 to 31 July 2008 on or in relation to a qualifying premises or a special qualifying premises the amount of eligible expenditure or qualifying expenditure which is to be treated under subsection (1) as having been incurred in the qualifying period for the purposes of granting a deduction under section 372AP or under section 372AR, as the case may be, shall be reduced—
(i) in the case of expenditure incurred in the period 1 January 2007 to 31 December 2007, to 75 per cent, and
(ii) in the case of expenditure incurred in the period 1 January 2008 to 31 July 2008, to 50 per cent,
of the amount which, apart from this subsection, would otherwise be so treated and, for those purposes, references in this Chapter to expenditure which is to be treated under section 372AS(1) as having been incurred in the qualifying period shall be construed accordingly.
(b) For the purposes of paragraph (a) and in determining whether and to what extent eligible expenditure or qualifying expenditure is incurred or not incurred on or in relation to a qualifying premises or a special qualifying premises in—
(i) the period from 1 January 2006 to 31 December 2006,
(ii) the period from 1 January 2007 to 31 December 2007, or
(iii) the period from 1 January 2008 to 31 July 2008,
only such an amount of that expenditure as is properly attributable to work on the construction of, conversion into, or refurbishment of, the qualifying premises or, as the case may be, the refurbishment of the special qualifying premises actually carried out in such a period shall be treated as having been incurred in that period.
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(2) Where, by virtue of section 372AN(7) or 372AQ(4), expenditure on the construction of, conversion into, or, as the case may be, refurbishment of, a qualifying premises includes expenditure on the development of any land, subsection (1) applies with any necessary modifications as if the references in that subsection to the construction of, conversion into, or, as the case may be, refurbishment of, the qualifying premises were references to the development of such land.
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(2A) For the purposes of determining the amount of eligible expenditure or qualifying expenditure incurred on or in relation to a building, the site of which—
(a) is situated partly inside and partly outside the boundary of a qualifying urban area, or
(b) is situated partly inside and partly outside the boundary of a qualifying town area,
and where expenditure incurred or treated as having been incurred in the qualifying period is attributable to the building in general, such an amount of that expenditure shall be deemed to be attributable to the part which is situated outside the boundary of the qualifying area as bears to the whole of that expenditure the same proportion as the floor area of the part situated outside the boundary of the qualifying area bears to the total floor area of the building.
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(3) (a) For the purposes of section 372AP other than those to which subsection (1) relates, expenditure incurred on the construction of, or, as the case may be, conversion into, a qualifying premises shall be deemed to have been incurred on the date of the first letting of the premises under a qualifying lease.
(b) For the purposes of section 372AP other than those to which subsection (1) relates, refurbishment expenditure incurred in relation to the refurbishment of a qualifying premises or a special qualifying premises shall be deemed to have been incurred on the date of the commencement of the relevant period, in relation to the premises, determined as respects the refurbishment to which the refurbishment expenditure relates.
(c) For the purposes of section 372AR other than those to which subsection (1) relates, expenditure incurred on the construction of, conversion into, or, as the case may be, refurbishment of a qualifying premises shall be deemed to have been incurred on the earliest date after the expenditure was actually incurred on which the premises is in use as a dwelling.
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