205D Exemption in respect of Stardust ex-gratia payments

Summary

This section provides an exemption from income tax for payments made under Phase 1 of the Stardust ex-gratia payment scheme.

Details

Definitions

(1) “relevant payment” means a payment or payments made to a relevant person by or on behalf of the Minister for Justice, under Phase 1 of the Stardust ex-gratia payment scheme (that is to say the scheme administered by the Minister for Justice in furtherance of a decision of the Government of 9 August 2024 for the families of the deceased victims of the Stardust fire);

“relevant person” means a person to whom a relevant payment has been made.

(2)Income that consists of a relevant payment is exempt from income tax.

Commencement

This section is deemed to come into operation on 9 August 2024, the date of the Government decision.

Relevant Date: Finance Act 2024