1965-HKRS28-8-32_Part02 — Page 22

Amendment

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(d) by the insertion of the following new subsection-

"(2) For the purposes of this Part, any capital ex- penditure incurred for the purposes of a trade, profession or business by a person about to carry on such trade. profession or business shall be treated as if it had been incurred by that person on the first day upon which he does carry on such trade, profession or business.”.

23. Section 41 of the principal Ordinance is amended by the dele- of section 41. tion of subsection (2) and the substitution therefor of the following-

Amendment

of section 41.

Amendment

of sec- Lion 428.

"(2) Where an individual is deceased a duly appointed execu tor or administrator of his estate shall have the same right to elect for personal assessment on the total income of the deceased as the deceased would have if he were alive.".

24. Section 42 of the principal Ordinance is amended-

(a) by the insertion, after the word "shall" where that word first

occurs in subsection (1), of the following-

subject to the provisions of subsection (3),"; and

(b) by the insertion, after subsection (2), of the following new sub.

section-

"(3) For the purposes of this Part the total income of an individual for any year of assessment shall not include the profits or share of profits of that individual as a member of any company, association or partnership consisting, at any time in that year of assessment, of more than twenty persons.".

25. Subsection (1) of section 42B of the principal Ordinance is amended.......

(a) by the deletion of paragraph (6) and the substitution therefor

of the following—

"(6) an allowance of seven thousand dollars if at any time during the year of assessment the individual was married to a wife:

Provided that-

(i) where the wife is living apart from her husband the allowance shall be granted only where the hus- band is maintaining or supporting the wife and on due claim being made therefor by the husband;

(ii) where the allowance is granted in respect of a wife living apart from her husband, the wife shall be treated as being a wife not living apart from her

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husband for the purposes of sections 10, 15B and 42A and subsection (4) of section 41;

(iii) any claim made under this paragraph in respect of a wife living apart from her husband may be revoked by the husband within the year of assess- ment in respect of which it was made or within six years after the expiration of that year;";

(b) by the deletion, in paragraph (c), of the words "and fourth child and two hundred dollars" and the substitution therefor of the following~~

-

"*. fourth, fifth and sixth child and five hundred dollars"; and

(c) by the deletion, in the proviso to paragraph (c), of the words "seven thousand" and the substitution therefor of the follow- ing-

"nine thousand five hundred".

26. Section 51 of the principal Ordinance is amended- (a) by the deletion, in subsection (1), of the words and comma "a return of any sum assessable to property tax, salaries and annuities tax" and the substitution therefor of the following- "any return which may be prescribed for property tax. salaries tax'; and

(b) by the deletion of subsection (4) and the substitution therefor

of the following-

"(4) For the purposes of obtaining full information in regard to any particular matter which may affect any liability, responsibility or obligation of any person under this Ordinance...

(d) an assessor or an inspector may give notice in writing to such person, or to any other person whom he considers may be in possession of in- formation or documents in regard to any such matter as aforesaid, requiring him within such reasonable time as is stated in the notice to furnish all information in his possession respect- ing any such matter, and to produce for exam- ination any deeds, plans, instruments, books, accounts, trade lists, stock lists, vouchers, bank statements AT other documents which the assessor or inspector giving the notice considers are or may be relevant for the purpose afore- said:

Amenduse Ľ. of section $1.