Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I move amendment No. 30:

In page 13, to delete lines 1 to 18 and substitute the following:“(a) (i) an individual may elect to be deemed to have made his or her application under subsection (6) in the tax year 2016 where, in the period commencing on 19 July 2016 and ending on 31 December 2016, a contract referred to in subsection (3)(a) is entered into between the applicant and a qualifying contractor or, as appropriate, the first tranche of a qualifying loan referred to in subsection (3)(b) is drawn down by the applicant, provided the application is made on or before 31 March 2017, or

(ii) an individual may elect to be deemed to have made his or her application under subsection (6) in the tax year 2016 where, in the period commencing on 1 January 2017 and ending on 31 March 2017, a contract referred to in subsection (3)(a) is entered into between the applicant and a qualifying contractor or, as appropriate, the first tranche of a qualifying loan referred to in subsection (3)(b) is drawn down by the applicant, provided the application is made on or before 31 May 2017,

and where an individual so elects, the application shall be deemed to have been made in the tax year 2016 and the corresponding claim under subsection (3), where it is made in the tax year 2017, shall be deemed to have been made in the tax year 2016,

(b) notwithstanding the obligation on an individual under paragraph (a) (i) to, as appropriate, make an application on or before 31 March 2017, where such an individual makes an application under subsection (6) in 2018 or 2019, the application shall be deemed to have been made in the tax year 2017, and the corresponding claim under subsection (3) shall be deemed to have been made in the tax year 2017.”.

Amendment No. 30 introduces a revision to subsection (7) in order to ensure that certain applicants do not suffer as a result of the four-year limit that applies to the making of a tax refund by Revenue. For the purposes of defining the four tax years from which income tax and DIRT are to be taken for the refund, subsection (7) allows in certain circumstances for an application that is made in 2017 to be deemed to have been made in 2016.