I move amendment No. 30:
In page 44, line 21, to delete "to which this section applies".
This is another relieving section which the Minister introduced in that there were very difficult tax rules regarding commencements of businesses, and they were short circuits of what were the main interests of farmers since the advent of the current year basis of self-assessment. The Minister is introducing a relieving section which provides that a person would not be penalised with regard to short lived businesses. I am seeking to improve the section by deleting the words "to which this section applies". This would allow the person ceasing trading to offset the losses in the old trade against any profits in any new trade that he or she may commence. It encourages the entrepreneur to get back on his feet and to diversify. There are commencement rules which are of undoubted benefit to the new trade, but why not allow him also to recover his losses from the old trade in this way? I am not aware if the experts and officials in the Department have considered the matter, but this would be the effect of the amendment. I have not indicated what the cost to the Exchequer would be, but it would be very small.
