864
[No. 24-21.8.40.-1.7
Short title.
Amendment
of Ordin-
ance No.
13 of 1940, s. 8.
Substitution
for Ordin- ance No. 13 of 1940, s. 10.
Ascertain- ment of assessable income.
A BILL
INTITULED
An Ordinance to amend further the War Revenue Ordinance,
1940.
Be it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:
1. This Ordinance may be cited as the War Revenue (No. 2) Amendment Ordinance, 1940.
2. Section 8 of the War Revenue Ordinance, 1940,
to as (hereinafter referred
the principal Ordinance) is amended by the addition of the following paragraph at the end of the proviso of exemptions thereto :-
(v) any income exempted by order of the Governor in Council under section 62.
3. Section 10 of the principal Ordinance is repealed and the following section is substituted therefor :-
10.-(1) The assessable income chargeable to salaries tax for any year of assessment shall be computed, where practicable, on the income of the recipient as defined in section 9 for the year preceding that year of assessment so that-
(a) if the recipient resides in the Colony for the whole. of both years the assessable income shall be the income of the year preceding the year of assessment;
(b) if the recipient resides in the Colony for the whole of the preceding year, but only for a portion of the year of assessment, the assessable income shall be a proportionate fraction of the income of the preceding year;
(c) if the recipient resides in the Colony for a portion of the preceding year, but for the whole of the year of assessment, the assessable income shall be a proportionate multiple of the income of the preceding year;
(d) if the recipient resides in the Colony for a portion only of each year the assessable income shall be calculated by increasing or decreasing the income of the previous year so that it shall proportionately represent the period of residence during the year of assessment;
(e) if the recipient does not reside in the Colony during the year of assessment no assessment shall be made for that year;
(f) if the recipient resides in the Colony for the whole or a portion of the year of assessment, but with no income of the previous year on which to base a practicable assess- ment, a special assessment shall be made on the basis of the probable income of the recipient during the period of his residence in the year of assessment.
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