Number 6/1975: FIRST SCHEDULE Amendment of Enactments

6 1975

FINANCE ACT, 1975

[GA]

FIRST SCHEDULE

Amendment of Enactments

Section 11.

PART I

Amendments consequential on changes in personal reliefs

1. The Income Tax Act, 1967 , is hereby amended in accordance with the following provisions of this paragraph:

(i) In section 138—

(a) in subsection (1), for “£800”, in each place where it occurs, there shall be substituted “£920”; for “£500” there shall be substituted “£575”, and for “£900” there shall be substituted “£1,035”,

(b) in subsection (2), for “£500”, in each place where it occurs, there shall be substituted “£575”, and for “£550” there shall be substituted “£635”, and

(ii) In sections 139 and 140, for “£140”, in each place where it occurs, there shall be substituted “£165”.

(iii) In section 141, in subsection (1A), for “£200”there shall be substituted “£230” and for “£270”, in each place where it occurs, there shall be substituted “£310”.

2. In section 3 of the Finance Act, 1969 , for “£140” there shall be substituted “£165”.

3. In section 11 of the Finance Act, 1971 , for “£140” there shall be substituted “£165” and for “£280” there shall be substituted “£330”.

4. In section 8 of the Finance Act, 1974 , for “£50” there shall be substituted “£145” and for “£25” there shall be substituted “£45”.

PART II

Amendments consequential on definition of capital allowance

Section 35.

1. Sections 69 (1), 218 and 317 (1) of the Income Tax Act, 1967 , section 20 (5) (a) of the Finance Act, 1970 , section 39 (7) of the Finance Act, 1973 , and section 27 (1) of the Finance Act, 1974 , are hereby amended by the deletion of the definition of “capital allowance” or “capital allowances”, as the case may be.

2. Section 236 (3) of the Income Tax Act, 1967 , is hereby amended by the substitution of “a capital allowance within the meaning of section 33 of the Finance Act, 1975” for all the words from “any allowance” to “XVI”.

3. Section 314 of the Income Tax Act, 1967 , is hereby amended by the deletion of subsection (2).

4. Section 22 of the Finance Act, 1971 , is hereby amended by the deletion of subsection (5).

5. Section 39 (1) (b) of the Finance Act, 1973 , is hereby amended by the insertion after “1967” of “or section 24 (3) of the Finance Act, 1971 , section 6 (1) or 7 (4) of the Finance (Taxation of Profits of Certain Mines) Act, 1974 , or section 22 (6) of the Finance Act, 1974 ”.

PART III

Miscellaneous

section 35.

Number and Year	Short Title	Amendment
(1)	(2)	(3)
No.12 of 1942	Taxes and Duties (Special Circumstances) Act, 1942.	In section 3 (1), the words “or the rates of sur-tax” shall be deleted.
No. 6 of 1967	Income Tax Act, 1967 .	In paragraph (iii) of the proviso to section 288 (2), “(other than tax at the higher rates)” shall be inserted after “tax” in the last two places in which it occurs.
No. 17 of 1974	Finance (Taxation of Profits of Certain Mines) Act, 1974 .	In section 1, in the definition of “tax” the word “, sur-tax” shall be deleted.
		In paragraph (iii) of the proviso to section 11 (2), “(other than tax at the higher rates)” shall be substituted for “(other than sur-tax)” in both places where it occurs.
		In section 7 (4), “subsection (3)” shall be substituted for “subsection (2)”.