1964_INLAND_REVENUE_ORDINANCE — Page 18

1989 Ed.]

Inland Revenue

[CAP. 112

17

(b) Where the circumstances are such that the property does not qualify for exemption under this subsection for the whole of any year of assessment, then the property tax chargeable in respect thereof shall be reduced in the proportion which the number of days in such year during which the property was so qualified bears to the whole of that year, and any excess tax paid shall be refunded. (c) Every corporation exempted from property tax under this subsection in respect of any land or buildings or land and buildings shall, within 30 days after the event, notify the Commissioner in writing of any change in the ownership or use thereof or in any other circumstances affecting such exemption. (Added 35 of 1965 s. 3)

(2A) Except for the purposes of section 5B(5)—

(a) the words "throughout the whole of that year" and "the whole

of" in subsection (2)(a);

(b) subsection (2)(b); and

(c) subsections (3), (4) and (5),

shall not apply to any year of assessment commencing on or after 1 April 1983. (Added 8 of 1983 s. 4)

(3) Notwithstanding subsection (1)—–—– (Amended 2 of 1971 s. 4; 5 of 1982 s. 2)

(a) in the case of any building or any part thereof owned by a sole owner and occupied solely by him exclusively for residential purposes throughout the whole of any year of assessment, property tax shall not be charged in respect thereof for that year of assessment, and any tax paid shall be refunded;

(b) in the case of any building or any part thereof owned by a sole owner and occupied solely by him exclusively for residential purposes during, but not throughout the whole of, any year of assessment, property tax in respect thereof for that year of assessment shall be reduced in the proportion in which the number of days during which it was occupied solely by the owner exclusively for residential purposes during that year bears to the number of days in that year, and any excess tax paid shall be refunded;

(c) in the case of any building or part thereof owned by more than one owner jointly or in common, the property tax which would, but for the provisions of this paragraph, be chargeable in respect thereof shall, for the purposes of determining what, if any, reduction in the amount of such tax is allowable under this paragraph, and for this purpose only, be treated as if apportioned--

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