Leasing of Farm Land
31/03/1992
Query
A verbal agreement was made to lease land for a five year period. A written agreement evidencing the verbal agreement was drawn up at the commencement of the final year of the lease. The issue is whether relief can be claimed for all years since the commencement of the verbal agreement.
Decision
The Commissioners would consider granting relief under Section 664 Taxes Consolidation Act 1997 if - (a) the lessor could prove to the satisfaction of the Inspector of Taxes that the farmland had actually been leased in the period and that he had received rental income from the leasing and had returned same for income tax purposes, and (b) all the other conditions provided for in Section 664 Taxes Consolidation Act, 1997 had been met.
Income Tax
Section 664, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT923012
08/06/1994
Query
Is a niece or nephew connected with an uncle or aunt for the purposes of this section?
Decision
No
Income Tax
Section 664, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT943037