Finance Act, 1981
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Amendment of section 334 (lands owned and occupied, and trades carried on, by charities) of Income Tax Act, 1967. |
11.— Section 334 of the Income Tax Act, 1967 , is hereby amended, as respects the year 1974-75 and subsequent years of assessment, by the insertion after subsection (2) of the following subsection: | |
“(2A) Subsection (1) (c) shall apply in respect of the profits of a trade of farming carried on by a charity as if the words after ‘solely to the purposes of the charity’ were deleted.”. |