192G Exemption in respect of Training Allowance payments

Summary

This section provides an exemption from income tax for certain further education training allowance payments made to qualifying individuals, who if not undertaking a further education and training course, would be in receipt of or eligible for a payment from the Minister for Employment Affairs and Social Protection.

Details

This section inserts a new section 192G into the Taxes Consolidation Act 1997, with the following provisions:

(1) Subsection (1) contains the following definitions:

“Minister” means the Minister for Education and Skills;

“qualifying payment” means a payment, commonly known as a further education training allowance, made to a qualifying individual who is undertaking an approved further education and training course under a scheme (as referred to in the definition of qualifying individual), administered on behalf of the Minister and who, if not undertaking such a course, would be in receipt of or eligible for a payment from the Minister for Employment Affairs and Social Protection.

“qualifying individual” means an individual who satisfies the conditions of the relevant scheme, as specified by the Ministers for Education and Skills and Employment Affairs and Social Protection.

(2) Subsection (2) provides that a qualifying payment made to a qualifying individual, on or after 1 January 2020 shall be treated as exempt from income tax and not included in determining the total income of that individual.

(3) Subsection (3) provides that a qualifying payment made to a qualifying individual, before 1 January 2020 be exempt from income tax and not included in determining total income of that individual for the year to which it relates.

Relevant Date: Finance Act 2021