Settlement Trusts and urban renewal
17/10/1997
Query
Is the beneficary of a Settlement Trust entitled to capital allowances on a property situated in an Urban Renewal area if the expenditure is incurred by the Trust?.
Decision
Expenditure incurred by trustees of a Settlement Trust is not construed as expenditure incurred by beneficiaries of the Trust for the purpose of Chapter 3, Part 10, TCA 1997.
Income Tax
Section 342, Taxes Consolidation Act, 1997
Origin: RLS Division
File ref:IT973002