Tax relief on Covenants
14/03/1972
Query
Covenants - When a Deed of Covenant is open-ended
Decision
The Deed of Covenant in this case is void of uncertainity in that it does not set out the exact period for which the covenant is to last, nor does it set out the payment date.
Income Tax
Section 792, Taxes Consolidation Act, 1997
Origin: Customs and Residence
File ref:CHY 5846
05/10/1979
Query
Covenants - Period of Deed of Covenant varied
Decision
A Deed which includes the wording 'or for as long as I shall remain a member of Seanad Eireann' is effective per the office of the Revenue Solicitor given that it is capable of lasting four years.
Income Tax
Section 792, Taxes Consolidation Act, 1997
Origin: Customs and Residence
File ref:CHY 3968
25/06/1985
Query
Covenants - Research College
Decision
Correct procedure/s for establishingment of a research college - see our information leaflets in conjunction with CHY 6733.
Income Tax
Section 792, Taxes Consolidation Act, 1997
Origin: Customs and Residence
File ref:CHY 6733
29/09/1986
Query
Covenants - The amount of a Deed of Covenant may vary
Decision
The amount of a Deed of Covenant may vary from year to year i.e. the amounts can be 'front loaded' e.g. first payment £1,000 - remaining payments of £5.
Income Tax
Section 792, Income Tax Act, 1995
Origin: Customs and Residence
File ref:CHY 7633
06/03/1995
Query
Natural Sciences
Decision
The percentage of time devoted to the teaching of natural sciences should be equal to the percentage of the general expenditure of the school attributed towards the teaching of natural sciences.
Income Tax
Section 792, Taxes Consolidation Act, 1997
Origin: Customs and Residence
File ref:CHY 7633