S.I. No. 322 of 2006 – General (Industrial Building)

Finance Act 2006 (Commencement of Section 26(1)) Order 2006

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 26(2) of the Finance Act 2006 (No. 6 of 2006), hereby order as follows:

1. This Order may be cited as the Finance Act 2006 (Commencement of Section 26(1)) Order 2006.
2. The 26 of June 2006 is appointed as the day on which section 26 of the Finance Act 2006 (No. 6 of 2006) comes into operation.

GIVEN under my Official Seal,
26 June 2006
Brian Cowen
Minister for Finance.

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints the 26 of June 2006 as the date for the coming into operation of Section 26(1) of the Finance Act 2006. That section amends Part 9 of the Taxes Consolidation Act 1997 in order to restrict the amount of capital expenditure on the construction or refurbishment of a building or structure which can qualify for industrial buildings allowances.

The section is a general provision which applies in relation to the following buildings: hotels, holiday camps and registered holiday cottages; sports injuries clinics; multi-storey car parks; industrial buildings and commercial premises located in Urban Renewal, Rural Renewal and Town Renewal areas; commercial premises on qualifying streets under the Living over the Shop scheme; park and ride facilities and commercial premises on the sites of park and ride facilities; third-level college buildings and, finally, qualifying residential units associated with registered nursing homes.

Section 26 provides that only 75 per cent of capital expenditure attributable to the year 2007 and 50 per cent of the capital expenditure attributable to the period 1 January 2008 to 31 July 2008 may qualify for relief. Expenditure which is proper to the year 2006 can qualify without restriction. In the case of qualifying residential units, the 75 per cent restriction generally applicable in 2007 will only apply from 25 March 2007 rather than 1 January 2007.

In the case of the hotel scheme (including holiday camps and holiday cottages) and the industrial and commercial elements of the Urban, Rural and Town Renewal schemes, the section also provides that local authority certification is required in respect of the condition that work to the value of at least 15 per cent of construction or refurbishment costs must be carried out by 31 December 2006. Such certification must include details of actual expenditure incurred to 31 December 2006 and of projected expenditure post 31 December 2006. This latter amount will apply as a cap in relation to the amount of expenditure incurred in the period 1 January 2007 to 31 July 2008 which may be taken into account in calculating capital allowances and that cap will apply prior to the application of the 75 per cent and 50 per cent restrictions.

S.I. No. 323 of 2006 – Hotels and Holiday Cottages

Finance Act 2006 (Commencement of Section 27(1)) Order 2006

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 27(2) of the Finance Act 2006 (No. 6 of 2006), hereby order as follows:

1. This Order may be cited as the Finance Act 2006 (Commencement of Section 27(1)) Order 2006.
2. The 26 of June 2006 is appointed as the day on which section 27 of the Finance Act 2006 (No. 6 of 2006) comes into operation.

GIVEN under my Official Seal,
26 June 2006
Brian Cowen
Minister for Finance

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 26 June, 2006 as the date for the coming into operation of section 27(1) of the Finance Act 2006 (No. 6 of 2006). That section allows, subject to certain conditions, for an extension of the qualifying period from 31 July 2006 to 31 July 2008 for the scheme of capital allowances for holiday cottages and for a similar extension to the date by which the rate of capital allowances for expenditure incurred on the construction or refurbishment of holiday camps and hotels changes from 15 per cent per annum to 4 per cent annum.

The section provides for the following. Firstly, that expenditure incurred after 31 July 2006 and before 1 January 2007 can qualify for relief under the present regime where the existing 31 December 2004 planning application deadline has been satisfied. Secondly, that expenditure incurred from 1 January 2007 to 31 July 2008 can also qualify for relief under the present regime where, in addition to satisfying the planning application condition, a binding contract in relation to the construction or refurbishment is in place by 31 July 2006 and work to the value of at least 15 per cent of the actual construction or refurbishment costs is carried out by 31 December 2006.

By virtue of the provisions of section 26 of the Finance Act 2006 the amount of any capital expenditure attributable to the year 2007 and to the period 1 January 2008 to 31 July 2008 is subject to the respective reductions to 75 per cent and 50 per cent of the relevant amount for the period involved. Additionally, local authority certification is required in respect of the condition that work to the value of at least 15 per cent of construction or refurbishment costs is carried out by 31 December 2006. Such certification must include details of actual expenditure incurred to 31 December 2006 and of projected expenditure post 31 December 2006. This latter amount will apply as a cap in relation to the amount of expenditure incurred in the period 1 January 2007 to 31 July 2008 which may be taken into account in calculating capital allowances and that cap will apply prior to the application of the 75 per cent and 50 per cent restrictions.

S.I. No. 324 of 2006 – Multi Storey Car Parks

Finance Act 2006 (Commencement of Section 29(1)) Order 2006

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 29(2) of the Finance Act 2006 (No. 6 of 2006), hereby order as follows:

1. This Order may be cited as the Finance Act 2006 (Commencement of Section 29(1)) Order 2006.
2. The 26 of June 2006 is appointed as the day on which section 29 of the Finance Act 2006 (No. 6 of 2006) comes into operation

GIVEN under my Official Seal,
26 June 2006
Brian Cowen
Minister for Finance

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 26 June, 2006 as the date for the coming into operation of section 29(1) of the Finance Act 2006 (No. 6 of 2006). That section allows, subject to certain conditions, for an extension of the qualifying period from 31 July 2006 to 31 July 2008 for the scheme of capital allowances for qualifying multi-storey car parks outside of Cork and Dublin.

The section provides that expenditure incurred after 31 July 2006 and before 1 January 2007 can qualify for relief where the existing condition, whereby 15 per cent of total project costs were incurred by 30 September 2003 and the relevant local authority certified this by 31 December 2003, was satisfied. Expenditure incurred from 1 January 2007 to 31 July 2008 can also qualify for relief where the existing condition was satisfied and work to the value of at least 15 per cent of the actual construction or refurbishment costs is carried out by 31 December 2006.

By virtue of the provisions of section 26 of the Finance Act 2006 the amount of any capital expenditure attributable to the year 2007 and to the period 1 January 2008 to 31 July 2008 is subject to the respective reductions to 75 per cent and 50 per cent of the relevant amount for the period involved.

S.I. No. 325 of 2006 – Rural Renewal

Finance Act 2006 (Commencement of Section 31(1)) Order 2006

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 31(2) of the Finance Act 2006 (No. 6 of 2006), hereby order as follows:

1. This Order may be cited as the Finance Act 2006 (Commencement of Section 31(1)) Order 2006.
2. The 26 of June 2006 is appointed as the day on which section 31 of the Finance Act 2006 (No. 6 of 2006) comes into operation.

GIVEN under my Official Seal,
26 June 2006
Brian Cowen
Minister for Finance

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 26 June, 2006 as the date for the coming into operation of section 31(1) of the Finance Act 2006 (No. 6 of 2006). That section allows, subject to certain conditions, for an extension of the qualifying period from 31 July 2006 to 31 July 2008 for the incentives available in areas designated under the Rural Renewal Scheme in respect of capital expenditure incurred on the construction or refurbishment of commercial and industrial premises.

The section provides for the following. Firstly, that expenditure incurred after 31 July 2006 and before 1 January 2007 can qualify for relief where the existing 31 December 2004 planning application deadline has been satisfied. Secondly, that expenditure incurred from 1 January 2007 to 31 July 2008 can also qualify for relief where, in addition to satisfying the planning application condition, a binding contract in relation to the construction or refurbishment is in place by 31 July 2006 and work to the value of at least 15 per cent of the actual construction or refurbishment costs is carried out by 31 December 2006.

By virtue of the provisions of section 26 of the Finance Act 2006 the amount of any capital expenditure attributable to the year 2007 and to the period 1 January 2008 to 31 July 2008 is subject to the respective reductions to 75 per cent and 50 per cent of the relevant amount for the period involved. Additionally, local authority certification is required in respect of the condition that work to the value of at least 15 per cent of construction or refurbishment costs is carried out by 31 December 2006. Such certification must include details of actual expenditure incurred to 31 December 2006 and of projected expenditure post 31 December 2006. This latter amount will apply as a cap in relation to the amount of expenditure incurred in the period 1 January 2007 to 31 July 2008 which may be taken into account in calculating capital allowances and that cap will apply prior to the application of the 75 per cent and 50 per cent restrictions.

S.I. No. 326 of 2006 – Park and Ride

Finance Act 2006 (Commencement of Section 32(1)) Order 2006

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 32(2) of the Finance Act 2006 (No. 6 of 2006), hereby order as follows:

1. This Order may be cited as the Finance Act 2006 (Commencement of Section 32(1)) Order 2006.
2. The 26 of June 2006 is appointed as the day on which section 32 of the Finance Act 2006 (No. 6 of 2006) comes into operation.

GIVEN under my Official Seal,
26 June 2006
Brian Cowen
Minister for Finance

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 26 June, 2006 as the date for the coming into operation of section 32(1) of the Finance Act 2006 (No. 6 of 2006). That section allows, subject to certain conditions, for an extension of the qualifying period from 31 July 2006 to 31 July 2008 for the scheme of capital allowances for qualifying park and ride facilities and related commercial premises.

This section provides that expenditure incurred after 31 July 2006 and before 1 January 2007 can qualify for relief where the existing planning application condition was satisfied by 31 December 2004. Expenditure incurred from 1 January 2007 to 31 July 2008 can also qualify for relief where the planning application condition was met and work to the value of at least 15 per cent of the actual construction or refurbishment costs is carried out by 31 December 2006.

By virtue of the provisions of section 26 of the Finance Act 2006 the amount of any capital expenditure attributable to the year 2007 and to the period 1 January 2008 to 31 July 2008 is subject to the respective reductions to 75 per cent and 50 per cent of the relevant amount for the period involved.

S.I. No. 327 of 2006 – LOTS and Urban Renewal Schemes

Finance Act 2006 (Section 30) (Commencement of Certain Provisions) Order 2006

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 30(2)(a) of the Finance Act 2006 (No. 6 of 2006), hereby order as follows:

1. This Order may be cited as the Finance Act 2006 (Section 30) (Commencement of Certain Provisions) Order 2006.
2. The 26 of June 2006 is appointed as the day on which paragraphs (a), (b)(i), (c)(i), (d) and (e) of section 30(1) of the Finance Act 2006 (No. 6 of 2006) come into operation

GIVEN under my Official Seal,
26 June 2006
Brian Cowen
Minister for Finance

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 26 June, 2006 as the date for the coming into operation of paragraphs (a), (b)(i), (c)(i), (d) and (e) of section 30(1) of the Finance Act 2006 (No. 6 of 2006). The provisions in question allow, subject to certain conditions, for an extension of the qualifying period from 31 July 2006 to 31 July 2008 for the incentives available in the areas designated under the Urban Renewal Scheme and certain streets designated under the Living Over the Shop Scheme in respect of capital expenditure incurred on the construction or refurbishment of commercial and industrial premises.

These provisions provide for the following. Firstly, that expenditure incurred after 31 July 2006 and before 1 January 2007 can qualify for relief where, in the case of the Living over the Shop Scheme, the existing 31 December 2004 planning application deadline has been satisfied and, in the case of the Urban Renewal Scheme, where the existing 15 per cent condition in relation to project costs was met by 30 June 2003. Secondly, that expenditure incurred from 1 January 2007 to 31 July 2008 can also qualify for relief where, in addition to satisfying the planning application condition in relation to the Living over the Shop Scheme and the 15 per cent project costs condition in relation to the Urban Renewal Scheme, a binding contract in relation to the construction or refurbishment is in place by 31 July 2006 and work to the value of at least 15 per cent of the actual construction or refurbishment costs is carried out by 31 December 2006.

By virtue of the provisions of section 26 of the Finance Act 2006 the amount of any capital expenditure attributable to the year 2007 and to the period 1 January 2008 to 31 July 2008 is subject to the respective reductions to 75 per cent and 50 per cent of the relevant amount for the period involved. Additionally, in respect of the Urban Renewal Scheme, local authority certification is required in respect of the condition that work to the value of at least 15 per cent of construction or refurbishment costs is carried out by 31 December 2006. Such certification must include details of actual expenditure incurred to 31 December 2006 and of projected expenditure post 31 December 2006. This latter amount will apply as a cap in relation to the amount of expenditure incurred in the period 1 January 2007 to 31 July 2008 which may be taken into account in calculating capital allowances and that cap will apply prior to the application of the 75 per cent and 50 per cent restrictions.

S.I. No. 328 of 2006 – Town Renewal

Finance Act 2006 (Section 33) (Commencement of Certain Provisions) Order 2006

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 33(2)(a) of the Finance Act 2006 (No. 6 of 2006), hereby order as follows:

1. This Order may be cited as the Finance Act 2006 (Section 33) (Commencement of Certain Provisions) Order 2006.
2. The 26 of June 2006 is appointed as the day on which paragraphs (a), (b)(i), (c) and (d) of section 33(1) of the Finance Act 2006 (No. 6 of 2006) come into operation.

GIVEN under my Official Seal,
26 June 2006
Brian Cowen
Minister for Finance

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 26 June, 2006 as the date for the coming into operation of paragraphs (a), (b)(i), (c) and (d) of section 33(1) of the Finance Act 2006 (No. 6 of 2006). The provisions in question allow, subject to certain conditions, for an extension of the qualifying period from 31 July 2006 to 31 July 2008 for the incentives available in areas designated under the Town Renewal Scheme in respect of capital expenditure incurred on the construction or refurbishment of commercial and industrial premises.

These provisions provide for the following. Firstly, that expenditure incurred after 31 July 2006 and before 1 January 2007 can qualify for relief where the existing 31 December 2004 planning application deadline has been satisfied. Secondly, that expenditure incurred from 1 January 2007 to 31 July 2008 can also qualify for relief where, in addition to satisfying the planning application condition, a binding contract in relation to the construction or refurbishment is in place by 31 July 2006 and work to the value of at least 15 per cent of the actual construction or refurbishment costs is carried out by 31 December 2006.

By virtue of the provisions of section 26 of the Finance Act 2006 the amount of any capital expenditure attributable to the year 2007 and to the period 1 January 2008 to 31 July 2008 is subject to the respective reductions to 75 per cent and 50 per cent of the relevant amount for the period involved. Additionally, local authority certification is required in respect of the condition that work to the value of at least 15 per cent of construction or refurbishment costs is carried out by 31 December 2006. Such certification must include details of actual expenditure incurred to 31 December 2006 and of projected expenditure post 31 December 2006. This latter amount will apply as a cap in relation to the amount of expenditure incurred in the period 1 January 2007 to 31 July 2008 which may be taken into account in calculating capital allowances and that cap will apply prior to the application of the 75 per cent and 50 per cent restrictions.

S.I. No. 332 of 2006 – Third Level Buildings

Finance Act 2006 (Commencement of Section 34(1)) Order 2006

I, Brian Cowen, Minister for Finance, in exercise of the powers conferred on me by section 34(2) of the Finance Act 2006 (No. 6 of 2006), hereby order as follows:

1. This Order may be cited as the Finance Act 2006 (Commencement of Section 34(1)) Order 2006.
2. The 26 of June 2006 is appointed as the day on which section 34 of the Finance Act 2006 (No. 6 of 2006) comes into operation.

GIVEN under my Official Seal,
26 June 2006
Brian Cowen
Minister for Finance

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

This Order appoints 26 June, 2006 as the date for the coming into operation of section 34(1) of the Finance Act 2006 (No. 6 of 2006). That section allows, subject to certain conditions, for an extension of the qualifying period from 31 July 2006 to 31 July 2008 for the scheme of capital allowances for buildings used for third level educational purposes.

The section provides that expenditure incurred after 31 July 2006 and before 1 January 2007 can qualify for relief where the existing condition, whereby an application for a Ministerial Certificate must have been made by 31 December 2004, was met. Expenditure incurred from 1 January 2007 to 31 July 2008 can also qualify for relief where both the application condition was met and work to the value of at least 15 per cent of the actual construction or refurbishment costs is carried out by 31 December 2006.

By virtue of the provisions of section 26 of the Finance Act 2006 the amount of any capital expenditure attributable to the year 2007 and to the period 1 January 2008 to 31 July 2008 is subject to the respective reductions to 75 per cent and 50 per cent of the relevant amount for the period involved.