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Aggregation of taxable wealth of certain individuals.
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4.—(1) For the purposes of this Act, the property to which an individual is beneficially entitled in possession on a valuation date shall also include all the property to which—
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(a) the wife of the individual, if she is living with him on the valuation date, and
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(b) the minor children, if any, of the individual,
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is or are beneficially entitled in possession on the valuation date:
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Provided that where, on a valuation date, a wife is not living with her husband, or either of them is dead, the property to which either of them or the survivor is entitled in possession shall include the property to which a minor child of those parents is beneficially entitled in possession if, but only if, that parent has custody of the child on that date.
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(2) Where property of another person is included in the taxable wealth of an individual by virtue of subsection (1), the Commissioners shall, on application being made by or on behalf of that individual or other person, apportion the amount of tax assessed on the individual between the individual and that other person and the amount of tax referable to that other person shall be the amount of tax which bears the same proportion to the total amount of tax of the individual as the net market value of that person's taxable wealth bears to the net market value of the taxable wealth of the individual:
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Provided that the individual shall remain primarily accountable under section 14 for the payment of tax on the taxable wealth aggregated under this section notwithstanding any apportionment made under this subsection.
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