Amendment
of section 29
of the
principal
Ordinance.
Ordinance No. 15 of 1933.
Ordinance No. 1 of 1934-
Ordinance No. 49 of 1947.
Amandinent
is paid the deduction shall be restricted to that portion of the dividend which is paid out of income on which fax is paid or payable by the corporation.",
11. Section 29 of the principal Ordinance is hereby amended as follows
(i) in paragraph (b) by the deletion of the colon at the end thereof and by the substitution therefor of a semi-colon ¡
(1) in paragraph (4) by the addition of the word " OT after the figures and semi-colon
17:*: (iii) by the addition of the following paragraph as paragraph (c) after paragraph (b):-
44
(e) paid or payable under an instrument issued by the Government of Hong Kong under-
(1) The Public Works Loan Redemptiou
Ordinance, 1983; or
1934; or
(1) The Hong Kong Dollar Loan Ordinance,
(iii) The Hong Kong Rehabilitation (Doau) Ordinance, 1947; or
any other Ordinance enacted to make provision for raising a loan the repayment of which is charged on the revenues of the Colony?".
12. Section 37 of the principal Ordinance is hereby amended of section 37 by the deletion of the words of assessment
of the
principal
Ordinance.
Amendment
of sub-section (3) thereof.
ra
1
in the tenth line
15
18. Section 39 of the principal Ordinance is hereby amended of section 39 by the deletion of the words and figures section 38(2)(i))
appearing in sub-section (4)(b) thereof and by the substitution therefor of the following:
of the
principal
Ordinance.
Amendment
of section 42
at the principal Ordinance.
Amendment
"proviso (ii) to section 38(2) ".
14. Section 42 of the principal Ordinance is hereby amended by the insertion in sub-section (2) immediately before the word
resident "
of the worda ***individual' does not include a married woman who is not living apart from her husband under the decree of a competent court or a duly executed deed of separation;
15. Section 43 of the principal Ordinance is hereby amended ot section 43 by the deletion of paragraph (a) to sub-section (2) and the substitution therefor" of "the following paragraph es paragraph རིང་བ་ཁམས་
at the
principal
Ordinance.
+
(a) * total income menus the total income of an individual and, save where she is entitled to be and has elected to be personally assessed, his wife, computed in accordance with the provisions of Chapters II, III, IV, and V, as the case may be,
including any interest paid or credited by a bank approved under proviso (u) to section 29 and, potwithstanding section 27, shall include the amount of any dividend from a corporation which is entitled to deduct tax under the provisions of section 28. The amount to be included in respect of any such dividend is the not dividend receivad plus the tax which the corporation has deducted or is entitled to deduct in respect of that dividend.".
16. Section 49 of the principal Ordinance is hereby amended Amendment by the deletion of sub-section (1) and the substitution therefor of section 49 of the following sub-section as sub-section (1):
"(1) Where a person carries on a business of shipowner or aircraft owner or charterer and any ship or aircraft owned or chartered by such person calls at à port in the Colony the full amount of the profits arising from the carriage of passengers, mails, livestock and goods shipped in the Colony sball be deemed to arise in the Colony: Provided that-
(1) this section shall not apply to goods which are brought to the Colony solely for transhipuent unless the outward freight is payable in the Colony; and
(ii) profits received by a person other than those described in this sub-section shall be pesossable under Chapter IV of this Ordinance.”.
of the
principal Ordinance.
of section
17. Section 66 of the principal Ordinance la bereby amended Amendment by the deletion of sub-section (8) and the substitution therefor 66 of the of the following sub-section ne sub-section (8)
(3)_The_Governor may if requested by the Bourd appotut a Lagal Adviser to assist the Board in the determining of any question relevant to an appeal to the Board provided that such Legal Adviser shall not be a member of the Board.".
principal Ordinance.
18. The principal Ordinance is hereby amended by the Addition of addition of the following section as section 39A ÷-
89A.
*
pection IgA
the
Notwithstanding anything to the con- pincipal of charitable, trary in this Ordinance contained there shall be Ordinance.
"Exemption
ecclesiastical
bodies.
& educational exempt and there shall be deemed always to have beau exempt from tax any charitable, ccclesiastical or educational institution of a public character: Provided that where a trade or business is carried ou by any such institution the income derived from such trade or business shall be exempt and shall be doomed to have been exempt from tax only if such income is applied solely for charitable purposes and either-
(i) the trade or business is exercised
in the course of the actual carrying out of a primary purpose of such institution; or