Finance Act, 1985

Deferment of increase in rate of tax (private dwellings).

54.—(1) For the purposes of this section—

“dwelling” means a house, or an apartment, flat, penthouse or similar unit of accommodation;

“qualifying supply” means the supply on or before the 30th day of April, 1985, to a person, being an individual acting on his own behalf, of a service consisting of the development of immovable goods, being the construction of a dwelling designed for the private use of, and occupation by, such person, and includes a supply of immovable goods to that person on or before the said date in connection with the supply of the said service.

(2) In this section reference to the construction of a dwelling does not include reference to the conversion, reconstruction, alteration or enlargement of any existing building or buildings.

(3) In respect of the taxable period commencing on the 1st day of March, 1985, notwithstanding the provisions of section 11 of the Principal Act (as amended by this Act), value-added tax shall, in relation to a qualifying supply, be, and be deemed to have been, chargeable, at the rate of 5 per cent.