1950-HKRS29-8-17_Part02 — Page 1

Repeal and

**(2) The rental value of any place of residence provided by the employer shall be deemed to be seven and one-half per cent of the income as described in subsection (1) (1) derived from the employer for the perind during which a place of residence is provided:

Provided that-

k

(a) if such place of residence be a hotel, hostel or boarding house the rental value shall be deemed to be six per cent of the income aforesaid where the accommodation consists of not more than two rooms and three per cent where the accommodation consists of not more than one

room:

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(b) if such place of residence be other than a hotel, hostel or boarding house any person may elect to have the rateable value arrived at in accordance with section 6 sub- stituted for rental value at seven and one-half per cent as aforesaid."

4.

Section 4 of the principal Ordinance is hereby repealed replacement and replaced as follows—

of section

14 of the

principal

Ordinance.

"14. Salaries and Annuities Tax shall be charged for each year of assessment upon the net chargeable income for that year calculated as provided by sections 10 to 13 at the following rates—

(a) upon the first five thousand dollars at one-fifth of the standard rate;

(b) upon the next five thousand dollars at two-fifths

of the standard rate;

(c) upon the next five thousand dollars at three-fifths

of the standard rate;

(d) upon the next five thousand dollars at four-fifths of the standard rate;

(e) upon the next five thousand dollars at the full standard rate;

upon the next five thousand dollars at the standard rate plus one-fifth thereof;

(g) upon the next five thousand dollars at the standard rate plus two-fifths thereof;

(k) upon the next five thousand dollars at the standard rate plus three-fifths thereof;

(8) upon the next five thousand dollars at the standard rate plus four-fifths thereof;

( upon the remainder at twice the standard rate : Provided that where an individual is liable to tax under this Chapter for a part only of any year of assessment, the sums under (a) to (i) inclusive of this section shall be reduced in the proportion which the number of days during which he is so liable bears to the number of days in that year of assessment, and provided also that in no case shall the amount of Salaries and Annuities Tax clfargeable on any individual exceed the amount which would have been chargeable on him had the standard rate of tax been charged on the whole of his income chargeable to Salaries and Annuities Tax before deducting the allowances provided in section 13."

5. Section 30 of the principal Ordinance is hereby amended Amendment

of section by the addition of the following at the end thereof-

30 of the principal

**Where such payment or credit is made after the 31st day of Ordinance. March, 1950, deduction shall be made at the rate of twelve and one-half per centum in lieu of ten per centum : Provided that where payment or credit and a deduction at the lesser rate have been made previously to the commencement of the Inland Revenue (Amendment) Ordinance, 1950, the person making such deduction at the lesser rate shall be deemed to have complied with this section.”

6. Subsection (1) of section 44 of the principal Ordinance Amendment is hereby repealed and replaced as follows-

of section 44 of the principal

"(1) Tax shall be charged on the total income reduced Ordinance. by the allowances under section 43 at the following rates-

(a) upon the first five thousand dollars at one-fifth,

of the standard rate;

(b) upon the next five thousand dollars at two-fifths of the standard rate;

(c) upon the next five thousand dollars at three-fifths

of the standard rate;

(d) upon the next five thousand dollars at four-fifths of the standard rate;