1973-HKRS28-16-21_Part01 — Page 26

Amendment of section 7.

Amendment of section 11.

Addition of

new sections TIA, TIB, HC and 1(D.

2

3. Section 7 of the principal Ordinance is amended by deleting "shall be reduced proportionately" and substituting the following-

"shall, in respect of each entire month during which the land or buildings or land and buildings were unoccupied, be reduced by one twenty-fourth of the total tax which would have been payable in respect thereof if the same had been occupied for the whole of that year of assessment".

4. Section 11 is amended by deleting subsections (7), (8) and (9) and substituting the following---

"(7) This section shall apply to the years of assessment up to and including the year commencing on the 1st April 1972.".

5. The principal Ordinance is amended by adding, after section II, the following new sections—

"Assessable income for 1972/73.

Ascertain-

ment of assessable

income for

years of assessment after 1st April 1973.

Office of

employment of profit.

11A. (1) Notwithstanding section 11(2), where. in the case of a person whose assessable income from a source has been ascertained under section 11(2) for the year of assessment commencing on the 1st April 1972, the amount of income accruing to him from that source in that year of assessment exceeds his assessable income from that source for that year, as ascertained in accordance with section 11(2), by more than fifteen per cent, the excess over fifteen per cent shall be deemed to be assessable income for the year of assessment commencing on the 1st April 1972.

(2) The assessable income of a person to whom subsection (1) applies for the year of assessment commencing on the 1st April 1972 shall be-

(a) the assessable income of that person as ascertained in accordance with section 11(2): and

(b) the assessable income as ascertained under

subsection (1).

118. The assessable income of a person charge- able to salaries tax for the year of assessment com- mencing on the 1st April 1973 and to succeeding years of assessment shall be the aggregate amount of income accruing to him from all sources in that year of assessment.

11C. (1) For the purposes of sections il and 118, a person shall be deemed to commence or cease, as the case may be, to derive income from a source whenever and as often as he commences or ceases-

Receipt of income.

3

(a) to hold any office or employment of profit:

OT

(b) to become entitled to a pension.

(2) Notwithstanding subsection (1), where, dur- ing the period commencing on the 1st April 1971 and ending on the 31st March 1973, a person holding an office or employment of profit was, for any period of more than sixty consecutive days, on leave of absence and was not deriving any income from that office or employment, that person may claim that, for the purposes of section 11, he be deemed to have ceased or commenced to derive income from a source on the commencement and cessation of each such period.

(3) Notwithstanding section 70 a claim under subsection (2) shall be entertained if it is made in writing within five years after the end of the year of assessment in which the period of absence during which no income was derived first commenced.

(4) A claim under subsections (2) and (3) shall be regarded as a valid objection to assessment under section 64 for the purposes of Part XL

JID. For the purposes of sections II, IIA and LIB-

(a) income which has accrued to a person during the basis period for a year of assess- meat but which has not been received by him in such basis period shall not be in- cluded in his assessable income for that year of assessment until such time as he sball have received such income, when not- withstanding anything contained in this Ordinance, an additional assessment shall be raised in respect of such income:

Provided that for the purposes of this paragraph income which has either been made available to the person to whom it has accrued or has been dealt with on his behalf or according to his directions shall be deemed to have been received by such person;

(b) income accrues to a person when he be-

comes entitled to claim payment thereof: