Provided that-
(i) any lump sum payment received on or after the 1st day of April 1966, being a lump sum payment or gratuity paid or granted upon the retirement from or termination of any office or employment or any contract of employment of an employes or a lump sum payment of deferred pay or arrears of pay arising from an award of salary or wages, whether such a payment is paid by an employer to a person during employment or after that person has left his employ, shall upon the application in writing of the person entitled to claim pay- ment thereof within two years after the cand of the year of assessment in which the pay- ment is made be related back and shall then be deemed to be income which has accrued during the periods in which the services or employment, in respect of which the payment was made, were performed or exercised, or if the relevant periods of service or employment exceed three years, the payment shall be deemed to be income accruing at a constant rate over the three years ending on the date on which the person become entitled to claim paymenl thereof or ending on the last day of employ- ment, whichever is the carlier; and, not- withstanding section 70, an application made by any person under this proviso for the adjustment of an assessment shall, to thal extent. be regarded as a valid objection to the assessment under section 64; and
(ii) subject to proviso (i), any payment made by an employer to a person after that person has ceased or been deemed to cease to derive income which, if it had been made on the last day of the period during which he derived income, would have been in- cluded in that person's assessable income for the year of assessment in which he ceased or is deemed to cease to derive in- come from that employment, shall be deemed to have accrued to that person On the last day of that employment.".
6. Section 13 of the principal Ordinance is amended by deleting paragraph (4) of the proviso thereto.
7.
Section 29(2)(b) of the principal Ordinance is amcoded by deleting "specified form" and substituting the following-
"form approved by the Commissioner".
8.
Section 40(1) of the principal Ordinance is amended by inserting, at the end of paragraph (b) of the definition of "basis period", the following-
"but where, in respect of salaries tax, the interval is the year ending on 31st March 1973, that interval shall not be deemed to fall in the second basis period".
9.
Section 42(1)(b) of the principal Ordinance is amended by deleting "computed in accordance with the provisions of Part III",
18. Section 42B(1) of the principal Ordinance is amended-
in paragraph (d)-
(a)
(i) by deleting "the year preceding" in each place where it occurs;
(ii) by deleting the proviso and substituting the following-
"Provided that-
(A) the total allowance made to the individual under this paragraph shall not exceed 6.0 amount equal to one-sixth part of the total income of such individual as reduced by the allowance specified in paragraph (a) of this subsection;
(B) in respect of the years of assessment up to and including the year of assessment commencing on the 1st day of April 1972, the allowances under this paragraph shall be the amounts paid or contributions made during the year preced- ing the year of assessment:*:
(b) in paragraph (e) by deleting "made by the individual or his wife, not being a wife living apart from her husband. in the year preceding the year of assessment" and substituting the following-
"which, in relation to the years of assessment commencing on the 1st April 1971 and 1st April 1972, were made during the year preceding the year of assessment or which, in relation to the year of
Amendment of section 13.
Amendment of seption 29.
Amendment of section 40.
Amendment of section 42.
Amendment of section 428.