1969-HKRS29-8-36_Part02 — Page 4

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(b) by deleting the proviso to paragraph (c) and substituting

the following-

"Provided that-

( the total of the allowances to an indivi- dual in respect of bis children shall not exceed nine thousand five hundred dollars;

(ii) where two or more individuals are en- titled to claim an allowance under this para- graph in respect of the same child for the same year of assessment, the allowance due shall be apportioned on such basis as the Commissioner may decide having regard to the contributions made by each individual to the maintenance and education of the child during the year of assCRS- ment:":

(c) by deleting paragraph (2) and substituting the following-

"(d) an allowance of-

() the amount of any premium paid during the year preceding the year of assessment by the individual or his wife, not being a wife living apart from her husband, in respect of any con- tract of insurance under which a capital sum will be payable on his or her death, but the allowance made under this sub-paragraph may not exceed ten per cent of the capital sum expressed in the contract to be payable on the death of the life assured; and

(i) the amount of any contribution made during the year preceding the year of assessment by the individual to the Widows and Orphans Pensions Scheme of the Colony or such other scheme or fund as the Commissioner may approve as equivalent to a Widows and Orphans Pensions Scheme:

Provided that the total allowance made to the individual under this paragraph shall not exceed an amount equal to one-sixth part of the total income of such individual before deducting the allowances specified in paragraphs (b), (c). (d) and (e) of this subsection:”.

26. Section 43 of the principal Ordinance is amended as follows-

(a) by deleting subsection (2) and substituting the following- "(2) Any tax paid by the individual whether directly or by deduction under the provisions of section 6 or 29 and any salaries tax and any business profits tax paid under the provisions of Parts III and IV respectively shall, where the relevant amounts on which such taxes were calculated are included in the total income of the individual, be sel off for the purposes of collection against the tax. charged under this Part on that individual.

(ZA) Any tax paid by the individual whether directly or indirectly under the provisions of Part II for a year of assessment for which be has elected personal assessment, to the extent to which such tax-

(a) is available for set off under section 25: (b) would have been refundable under sub- section (3) of section $ except that the relevant part of the land or buildings or land and buildings did not qualify under the definition of building or part thereof in paragraph (c) of subsection (5) of section 5: (c) would have been refundable under section 7 except that the relevant period when the land or buildings or land and buildings were unoccupied did not consist of entire months in the year of assessment,

shall be set off for the purposes of collection against the tax charged under this Part on that individual for that year of assessment.";

(b) in subsection (3), by deleting "subsection (2)" and sub-

stituting the following-

"subsections (2) and (2A)”.

27. Section 45 of the principal Ordinance is amended in sub- section (4) by inserting after "year" at the end thereof the following

"and the Commonwealth rate of tax shall be computed in a similar manner".

Amendment of section 43,

Amendment of section 45.