Skip to main content
Normal View

Tax Code.

Dáil Éireann Debate, Tuesday - 22 June 2004

Tuesday, 22 June 2004

Questions (131)

Paul Kehoe

Question:

122 Mr. Kehoe asked the Minister for Finance if tax relief is available to a person wishing to build a stable and arena area to break and train horses; and if he will make a statement on the matter. [18302/04]

View answer

Written answers

There is no specific tax relief available for the construction of a stable and arena area to break and train horses. However, in certain circumstances I am advised that the Revenue Commissioners take the view that racehorse trainers are entitled to farm buildings allowances in respect of expenditure incurred on structures such as stables and yards. To qualify, a trainer must have the use of land or the right to graze livestock on land. The qualifying expenditure can be written off over seven years at the rate of 15% for the first six years and 10% for the seventh year.

Tax relief may also be available under one of the general property-based incentive schemes, depending on where the premises are to be located and the circumstances of the case. Tax relief is available for certain commercial premises under the urban renewal, town renewal and rural renewal schemes. Based on the information supplied it is not possible to say if tax relief under one of these schemes might apply in this case. The person concerned should check with his or her local authority to ascertain if the area in which the stable and arena is to be built has been designated for tax incentive purposes. If the outcome of that inquiry is positive the person concerned should then contact the Office of the Revenue Commissioners, Business Income Tax, Ship Street Gate, Dublin Castle, Dublin 2, whose phone numbers are 01-6475473 and 01-6475432, for further advice.

Top
Share