Taxes Consolidation Act 1997 section 372BA

Qualifying streets

Section 372BA empowers the Minister for Finance to designate particular streets as qualifying streets for the purposes of the Living Over The Shop (LOTS) tax incentive scheme.

• The Minister for Finance, on the recommendation of the Minister for the Environment and Local Government, may by order designate a street as a qualifying street for one or more reliefs under Chapter 7 or Chapter 11 of Part 10.
• Each order specifies the qualifying period for that street; the period cannot start before 6 April 2001 and cannot end later than 31 December 2004, 31 December 2006 or 31 July 2008, depending on which extension conditions apply.
• Premises used as offices, for mail order, for financial services, or for retailing goods or supplying services outside the State, are excluded from commercial relief.
• Before relief can be granted, the relevant local authority must certify in writing that the works are consistent with the Living Over The Shop scheme criteria set out in Department of Environment and Local Government circular UR 43A.