Taxes Consolidation Act 1997 section 368

Accelerated capital allowances in relation to construction or refurbishment of certain industrial buildings or structures

Section 368 provided for accelerated capital allowances on industrial buildings constructed or refurbished within the Dublin Docklands qualifying area, although the scheme was never commenced and was later repealed.

• Applied to industrial buildings located wholly within a qualifying area and used for a purpose specified in section 268(1)(a).
• Granted an industrial building allowance equal to 50 per cent of qualifying capital expenditure on construction or refurbishment.
• Refurbishment expenditure qualified only where it was at least 10 per cent of the building's market value immediately before the work began.
• Only expenditure attributable to work actually carried out during the qualifying period of 1 July 1997 to 30 June 2000 counted towards relief.