I move amendment No. 46:
In page 56, between lines 20 and 21, to insert the following new section before section 63:—
(1) This section applies to a gift of money which, on or after the 6th day of April, 1965, is made to the Minister for Finance for use for any purposes for or towards the cost of which public moneys are provided and which is accepted by that Minister.
In this subsection "public moneys" means moneys charged on or issued out of the Central Fund or provided by the Oireachtas.
(2) Where a person who has made a gift to which this section applies claims relief from tax by reference thereto, the following provisions of this section shall have effect.
(3) For the purposes of income tax (including sur-tax) for the year of assessment in which the person makes the gift, the amount thereof shall be deducted from or set off against any income of the person chargeable to tax for that year and tax shall, where necessary, be discharged or repaid accordingly; and the total income of the person or, where the person is a married woman whose income is deemed to be the income of her husband, the total income of the husband shall be calculated accordingly.
In this subsection "total income" means total income from all sources estimated in accordance with the provisions of the Income Tax Acts.
(4) Where a gift to which this section applies is made by a company, the amount thereof shall be allowed as a deduction in computing for the purposes of corporation profits tax the profits of the company arising in the accounting period in which the gift is made.
This is an amendment which I sought leave to introduce on Committee Stage to provide relief for gifts by people who want to make such gifts for a purpose for which State expenditure would otherwise have to be incurred out of voted moneys. In order to take advantage of one particular gift—and probably many others, I hope—it is desirable that we should give the relief in this amendment which seeks to introduce a new section.