asked the Minister for Finance what tax concessions are available to (a) newly-built hotels, (b) hotels with new extensions, and (c) existing hotels.
Ceisteanna—Questions. Oral Answers. - Hotel Tax Concessions.
17.
In addition to the ordinary allowances for tax purposes which apply to other trades as well as to the trade of hotel-keeping, the following allowances are available in respect of capital expenditure incurred on the construction or extension of hotels:
(1) Expenditure incurred on or after the 1st January, 1960, qualifies for an initial allowance of 10 per cent. and an annual allowance of 10 per cent.
(2) Expenditure incurred before the 1st January, 1960, but not earlier than the 30th September, 1956, is eligible for an initial allowance of 10 per cent. and, with effect as from 1960-61, an annual allowance of 2 per cent.
In the case of hotel buildings which do not qualify for annual allowance in respect of capital expenditure on construction (i.e. buildings representing expenditure incurred before the 30th September, 1956) there is available, as from 1960-61, an allowance equal to 1/3rd of annual value for Schedule A purposes.