Written answers

Tuesday, 25 April 2006

Department of Finance

Revenue Commissioners' Audits

9:00 pm

Photo of Kathleen LynchKathleen Lynch (Cork North Central, Labour)
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Question 292: To ask the Minister for Finance the number of inspections by the Revenue Commissioners which have been carried out in the past year on properties developed under the section 50 tax relief scheme to ensure that qualifying developments are conforming with the guidelines that they must be occupied by students during the college year; the number of audits which have been done on companies letting the apartments to ensure compliance; and if he will make a statement on the matter. [14387/06]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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I am informed by the Revenue Commissioners that no figures are available on the proportion of the 14,214 audits carried out in 2005 which specifically examined the so-called "section 50" scheme of relief for the construction of student accommodation.

The Revenue Commissioners state they are not aware of any significant abuses of the "section 50" scheme. However, the Revenue Commissioners have noted the newspaper report of a claim made at the recent Union of Students in Ireland congress that some section 50 apartments are let to non-students during college terms. The Revenue Commissioners are following up on this with the person who made the claim and I am assured that appropriate action will be taken if warranted.

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