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Finance Act, 1968

PART I

Income Tax

Income tax and sur-tax for the year 1968-69.

1.—(1) Income tax shall be charged for the year beginning on the 6th day of April, 1968, at the rate of seven shillings in the pound.

(2) Sur-tax for the year beginning on the 6th day of April, 1968, shall be charged in respect of the income of any individual the total of which from all sources exceeds two thousand five hundred pounds and shall be so charged at the following rates, that is to say:

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

Nil

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

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

three shillings

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

six shillings

for every pound of the remainder of the excess

nine shillings.