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Finance (No. 2) Act, 1947

Sur-tax for the years 1946-47 and 1947-48.

2.—(1) Notwithstanding anything to the contrary contained in section 1 of the Finance Act, 1946 (No. 15 of 1946), sur-tax for the year beginning on the 6th day of April, 1946, shall be charged in respect of the income of any individual the total of which from all sources exceeds one thousand five hundred pounds and shall be so charged at the following rates in lieu of the rates referred to in the said section 1, that is to say:—

In respect of the first one thousand five hundred pounds of the income

Nil.

In respect of the excess over one thousand five hundred pounds,

for every pound of the first five hundred pounds of the excess

Ninepence

for every pound of the next one thousand pounds of the excess

One shilling and sixpence

for every pound of the next one thousand pounds of the excess

Three shillings

for every pound of the next one thousand pounds of the excess

Four shillings

for every pound of the next one thousand pounds of the excess

Five shillings

for every pound of the next two thousand pounds of the excess

Six shillings

for every pound of the next two thousand pounds of the excess

Seven shillings and sixpence

for every pound of the next ten thousand pounds of the excess

Eight shillings

for every pound of the remainder of the excess

Eight shillings and sixpence

(2) Section 3 of the Finance Act, 1928 (No. 11 of 1928), shall, in relation to the sur-tax for the year beginning on the 6th day of April, 1946, have effect subject to the provisions of this section.

(3) The amount payable by virtue of any assessment, made on or before the 15th day of October, 1947, in respect of sur-tax for the year beginning on the 6th day of April, 1946, to which any of the foregoing provisions of this section applies shall, by virtue of this section and without more, be deemed to be so varied as to give effect to such of the said provisions as is or are applicable.

(4) Section 1 of the Finance Act, 1947 (No. 15 of 1947), shall have effect subject to the provisions of this section.