1961-HKRS29-8-28_Part01 — Page 20

Addition

of new

section SA.

(Cop. 255).

2

Landlord and Tenant Ordinance, property tax relating to such land or buildings or land and buildings shall be charged at one-half the standard rate:"";

(b) by the insertion after paragraph (b) of the proviso thereto of

the following new paragraphs-

(Cap. 33).

"(ha) property tax shall not be charged in respect of any building or any part thereof where the same is occupied exclusively by the owner himself for residential purposes, and for the purposes of this paragraph "owner" includes a beneficial owner, a tenant for life, a mortgagor and a person who is making payments' to a co-operative society registered under the Co-operative Socie- ties Ordinance for the purpose of purchasing a building or part thereof;

(bb) where any building or any part thereof is owned jointly or in common, and the owners or any of them occupy such building or part exclusively for residential purposes, the following provisions shall have effect-

() where such building or part is owned jointly, property tax in respect thereof shall be refunded in the proportion which the number of owners so occupying bears to the total number of owners of such building or part;

(ii) where such building or part is owned in common, property tax in respect thereof shall be refunded in proportion to the share in such ownership of the owners so occupying:".

3. The principal Ordinance is amended by the addition after section 3 of the following new section-

"Evidence on appeal.

(Cap. 255).

SA. In any appeal made under the provisions of this Ordinance where the question is whether or not property tax shall be charged and computed at one-half the standard rate, there shall be admissible in evidence-

(40) a certified copy of any relevant order, dated not more than twelve months next before notice of objection to the assessment appealed against was given, of a tribunal constituted under the provi- sions of the Landlord and Tenant Ordinance: (6) a certificate under the hand of the Commissioner of Rating and Valuation as to whether or not rents are restricted.".

4. Section 7A of the principal Ordinance is amended by the Amendment insertion before the definition "land or buildings or land and buildings” of sec of the following new definition-

““buildings” includes any part of a building;”.

tion 7A.

of section 25.

5. Section 25 of the principal Ordinance is amended by the Amendment deletion of paragraphs (4) and (b) of the proviso thereto and the substitution therefor of the following new paragraphs-

"{α) no reduction shall be allowed unless either the profits derived from such property are part of the profits of the trade profession or business carried on by such person or the property is occupied by him for the purposes of his trade profession or business;

(6) if the amount of property tax paid for a year of assessment exceeds the profits tax payable, the amount so paid in excess shall be refunded in accordance with the provisions of section 79;

(c) where property tax for the year of assessment commencing on the 1st day of April, 1960, or earlier years, exceeded The profits tax payable for such years the amount of the excess shall be set off against the profits tax payable for the year of assessment commencing on the Ist day of April, 1961, after deduction of the property tax paid for that year and any balance left over shall be carried for- ward and set off in like manner against the profits tax payable for the next succeeding years.".

6. (1) Subsection (D) of section 42 of the principal Ordinance is Amendmen amended by the deletion of paragraph (6) and the substitution therefor of section 42 of the following

"(a) the profits derived from the letting of land or buildings or land and buildings owned by the individual computed in accordance with the provisions of Pan IV as if they were profits derived from the carrying on of a business; and for the purposes of this paragraph the assessable profits for any year of assessment shall be computed on the full amount of the profits derived from the letting of land or buildings or land and buildings owned by that individual during the year preceding the year of assess- ment;".

(2) For the avoidance of doubt, the assessable profits for the year Avoidance

of assessment commencing on the 1st day of April, 1961, shall be of doubt. computed on the full amount of the profits derived from the letting of land or buildings or land and buildings owned by the individual during the year commencing on the 1st day of April, 1960.