Finance (No.3) Bill 2011 was signed into law by President McAleese last month to become Finance (No.3) Act 2011. The Act gives effect to the taxation changes arising from the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 and added two new Parts to the Taxes Consolidation Act 1997: Part 44A and Part 44B. Revenue has produced a series of FAQs on the civil partners’ legislation and the taxation of cohabiting couples.

As previously reported in tax.point, a new Part 44A added to the Taxes Consolidation Act 1997 deals with civil partnerships and provides that similar tax provisions that currently apply to married couples will apply to civil partners.

To assist with understanding the implications of the civil partners’ legislation, a series of Frequently Asked Questions (FAQs) has been published on the Revenue website. Revenue is also in the process of updating all published material which will include updating the Revenue website, revising forms and leaflets, and rewriting other material.

A new Part 44B added to the Taxes Consolidation Act 1997 establishes a redress scheme for cohabiting couples. A series of FAQs dealing with cohabiting couples was also published by Revenue on their website.

Revenue has published eBrief No. 45/11 which sets out some further information on Finance (No.3) Act 2011 and provides links to their FAQs.

Finance (No. 3) Act 2011 is available to download now from the Oireachtas website www.oireachtas.ie.