Farming - Cattle
22/12/1999
Query
Under the Brucellosis Eradication Scheme all female cattle and certain male cattle are required to be disposed of. A person may elect to avail of the 100% compulsory disposal stock relief in respect of them. Is the ordinary 25% stock relief available in respect of an increase in the stock which is not required to be disposed of.
Decision
If a person elects to claim a 100% stock relief deduction under section 668 in respect of cattle compulsory disposed of, they are not entitled to a further deduction in respect of those cattle under section 666 for that year.
Income Tax
Section 668, Taxes Consolidation Act, 1997
Origin: Office of the Chief Inspector of Taxes
File ref:99gm154