19th Ave New York, NY 95822, USA

Hayfield Manor 8th October Introduction to Technical Tax Issues on Investments, Real Assets & Art (Demo)

Upcoming Event – 8th October 2015 Hayfield Manor Hosted by Solo Arte in conjunction with The K Gallery
‘Introduction to technical tax issues on investments, real assets & art’
Presentations by 
Mr. Brian Flanagan, Investment Consultant, Cork – Overview of the Investment Market
Mr. Tom Stapleton, Tax Consultant, Stapleton & Associates, Cork – Wear & Tear Allowance (s. 284 TCA 1997)
Artwork will be exhibited on the night by the following Artists:
Liam O’Neill, James Brohan, Michael Flatley, Arthur Maderson and JB Vallely.
If interested in attending this event please contact Pat on 086 171 9096

Capital Allowance
Wear & Tear – Legislation S284 TCA 1997 states:
Section 1
A trader who incurs capital expenditure on machinery or plant is entitled to a wear and tear allowance if the asset is in use for the purpose of his trade at the end of the basic period for the tax year.

Section 2
The annual wear and tear allowance is 12.5% on a straight line basis. Where a corporate or individual tax payer buys a work of art and displays it at their business premises for the purpose of promoting their business, the work of art is treated as machinery or plant, and is eligible for the annual wear and tear allowance of 12.5%.

Your accountant should be consulted with regard to all intended art related investments and where deemed necessary be approved by the Revenue Commissioners