asked the Minister for Finance if he is aware that the Lisdoonvarna and Rooska Spa Wells Trust has been assessed for income tax under No. 3 of Schedule A of the Income Tax Act, 1918, in respect of the years 1920/21 and 1922/23 on the basis of the profits of the preceding year, and, if he is aware that the Wells Trust has sustained heavy working losses in the years in question; further, whether, having regard to the fact that the deficit on four years still remains at £1,940, the Revenue Commissioners will enforce payment of the assessment.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - LISDOONVARNA INCOME TAX ASSESSMENT.
Under Rule 3 of Schedule A, No. 111 (Income Tax Act, 1918) salt springs, &c., are assessable to income tax on the basis of the profits of the year preceding the year of assessment. The liability of the Lisdoonvarna and Rooska Spa Wells has been computed on that basis, and there is no power to waive the collection of the tax charged.