Motor Expenses restriction
15/12/1994
Query
Does the relevant amount limit applying when a car is bought remain in place for later years, in respect of running expenses incurred in relation to that car?
Decision
No. One must look at the relevant amount limit which applies for the year of assessment in which the expenses are incurred.
Income Tax
Section 376, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT943517