asked the Minister for Finance if the Revenue Commissioners allow members of the Dublin Chamber of Commerce relief from income-tax in respect of the annual subscription to the chamber; if a similar concession is enjoyed by members of other chambers of commerce; and if employees, whose incomes bring them within the income-tax limits, may claim exemption in respect of subscriptions to trade unions.
Ceisteanna—Questions. Oral Answers. - Exemption from Income-Tax.
Certain chambers of commerce have entered into an arrangement with the Revenue Commissioners whereby the surplus of their receipts over their expenditure is assessed to tax. Annual subscriptions by their members to these chambers of commerce are, accordingly, allowed as deductions in the computation of the profits of the members and payments by the chambers to the members (other than capital payments) are treated as trade receipts.
Subscriptions to other chambers of commerce are legally admissible as deductions to the extent to which they represent contributions towards expenditure which, if incurred by the members themselves, would be allowable in arriving at their profits.
Relief from income-tax is granted in respect of so much of the subscriptions to trade unions as is allocated to superannuation, funeral or life insurance benefits.