Dáil Éireann díospóireacht -
Wednesday, 25 Oct 1922

Vol. 1 No. 26

CEISTEANNA—QUESTIONS. - FARMERS AND INCOME TAX.

SEAN O RUANAIDH

To ask the Minister of Finance if he will consider:—

(1) Permitting the Income Tax of persons engaged in Agriculture, whether under Schedule A or under Schedule B, or both, for the years 1919/20, 1920/21, 1921/22, to be adjusted together, so that losses may be set off against profits.

(2) Whether he will suspend the time limit for lodging Farm Income Tax appeals.

(3) Further, to ask whether he will return as soon as may be to the prewar assessment of Income Tax under Schedule B, to one-third of the rateable valuation.

MINISTER for FINANCE (The President)

(1) Where a loss in husbandry is proved for any year, full allowance for that loss can be made against any other liability for the same year. The suggestion that a loss in farming for any year should be set off against assessable liability for another year is one which it would be impossible to reconcile with the Income Tax law.

(2) Where reasonable cause is shown it is not the practice in present circumstances to refuse an appeal on the score of time limit. If the Deputy can let me have particulars of any specific cases in which it is claimed that reasonable latitude has not been allowed, I will have inquiries made.

(3) As stated in my reply to Deputy Runaid on 20th instant, the basis of assessment for 1922/23 has already been reduced by one-half. The question as to whether or not a further reduction can be made for 1923/24 will be a matter for the decision of this House next year.