Rory O'Hanlon
Question:52 Dr. O'Hanlon asked the Minister for Finance if he will restore covenants to persons attending third level courses where they are entitled to higher education grants or waiver of fees. [12214/97]
Written Answers - Tax Reliefs.
The initiatives introduced in the third level education area by this Government effectively removed, for the most part, the reason for the provision of tax on covenants which I withdrew with effect from the 1996-97 tax year.
The initiatives I refer to include the abolition of fees in respect of full-time third level under-graduate courses in publicly funded colleges and in respect of post leaving certificate courses. Provision has also been made for tax relief on fees paid in respect of full-time approved undergraduate courses of at least two years duration in approved private colleges.
These developments have significantly eased the financial burden for families whose children choose to enter third level education. Consequently, I have no plans to restore tax relief on convenants.
Michael P. Kitt
Question:53 Mr. M. Kitt asked the Minister for Finance if a person (details supplied) in County Galway, who has been approved for the farm retirement scheme, will be allowed up to £6,000 income tax free; and if he will make a statement on the matter.[12216/97]
I am informed by the Revenue Copmmissioners that the last return which the Inspector of Taxes received from the taxpayer was in respect of 1995-96. With the return, the taxpayers claimed, and was given, tax exemption in respect of £4,000 rent he received from the leasing of farm land under the provisions of section 10 of the Finance Act, 1985. If the taxpayer considers that the rent he receives from leasing farm land qualifies for exemption from tax up to £6,000 he should apply accordingly to the Inspector of Taxes and enclose all relevant documentation including the lease agreement.