43/849
*
104
CAP. 112]
Inland Revenue
[1989 Ed.
(6) Where under subsection (5) the amount of an individual's excess is brought forward to any year of assessment that individual or, where that individual is a wife not living apart from her husband, her husband shall, whether or not he had elected under section 41 to be assessed under this Part, be deemed for the purposes of this Ordinance to have elected for personal assessment and shall be assessed to tax for that year of assessment under this Part.
(7) The amount of any excess set off under subsection (5) against an individual's total income or that of the individual's spouse for any year of assessment shall not be set off for any other year of assessment.
(8) For the purposes of this Part the total income of an individual for any year of assessment shall not include the profits or losses or share of profits or losses of that individual as a member of any partnership (other than a partnership referred to in section 345(2) of the Companies Ordinance (Cap. 32)) consisting, at any time in that year of assessment, of more than 20 partners. (Amended 51 of 1978 s. 9)
(9) For the purposes of subsection (8), in calculating the number of partners in a partnership there shall be included every partner in any other partnership which is itself a partner in the first-mentioned partnership.
(10) In this section “individual" includes a wife.
42A. Husband and wife
(Replaced 7 of 1975 s. 30, Amended 71 of 1983 s. 21)
For the purposes of this Part the total income (as reduced under section 42(2) and (5)) of a wife, not being a wife living apart from her husband, shall be aggregated with the total income (as so reduced) of her husband to produce a joint total income.
(Replaced 71 of 1983 s. 22)
42B. Allowances
(1) In giving effect to an election under the provisions of this Part the assessor shall make a single assessment in the sum of the total income (as reduced under section 42(2) and (5)) of the individual or, in the case of a husband and wife, not being a wife living apart from her husband, in the sum of their joint total income, as reduced in either case by such of the following allowances as may be appropriate (Amended 7 of 1975 s. 31; 71 of 1983 s. 23)
(a) an allowance of $32,000; (Amended 33 of 1973 s. 3; 48 of 1980 s. 3; 32 of 1981 s. 7; 29 of 1982 s. 12; 71 of 1983 s. 23; 28 of 1987 s. 5; 17 of 1989 s. 11)
Page 105
Page 106
43/849
*
104
CAP. 112]
Inland Revenue
[1989 Ed.
(6) Where under subsection (5) the amount of an individual's excess is brought forward to any year of assessment that individual or, where that individual is a wife not living apart from her husband, her husband shall, whether or not he had elected under section 41 to be assessed under this Part, be deemed for the purposes of this Ordinance to have elected for personal assessment and shall be assessed to tax for that year of assessment under this
Part.
(7) The amount of any excess set off under subsection (5) against an individual's total income or that of the individual's spouse for any year of assessment shall not be set off for any other year of assessment.
(8) For the purposes of this Part the total income of an individual for any year of assessment shall not include the profits or losses or share of profits or losses of that individual as a member of any partnership (other than a partnership referred to in section 345(2) of the Companies Ordinance (Cap. 32)) consisting, at any time in that year of assessment, of more than 20 partners. (Amended 51 of 1978 s. 9)
(9) For the purposes of subsection (8), in calculating the number of partners in a partnership there shall be included every partner in any other partnership which is itself a partner in the first-mentioned partnership.
▲ (10)—In this section “individual" includes a wife.
42A. Husband and wife
(Replaced 7 of 1975 s. 30, Amended 71 of 1983-5--21)
For the purposes of this Part the total income (as reduced under section 42(2) and (5)) of a wife, not being a wife living apart from her husband, shall be aggregated with the total income (as so reduced) of her husband to produce a joint total income.
(Replaced 71 of 1983 s. 22)
4.14
42B. Allowances
(1) In giving effect to an election under the provisions of this Part the assessor shall make a single assessment in the sum of the total income (as reduced under section 42(2) and (5)) of the individual or, in the case of a husband and wife, not being a wife living apart from her husband, in the sum of their joint total income, as reduced in either case by such of the following allowances as may be appropriate (Amended 7 of 1975 s. 31; 71 of 1983 s. 23)
(a) an allowance of $32,000; (Amended 33 of 1973 s. 3; 48 of 1980 s. 3; 32 of 1981 s. 7 29 of 1982 s. 12; 71 of 1983 s. 23; 28 of 1987 s. 5; 17 of 1989 11)
Page 105Page 106
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