Capital Allowances - car parks
26/02/1997
Query
Is Urban Renewal Relief available in respect of car park spaces in a multi- storey carpark which are sold with and apportioned to residential units which are part of the same development?.
Decision
Where a car space belongs to or is necessarily or usually enjoyed with a residential unit the car space will be regarded as included in the definition of a house in Section 350(1) Taxes Consolidation Act 1997.
Income Tax
Section 350, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:GD95.003