Finance Act, 1924

PART I.

INCOME TAX.

Income tax and super tax for 1924-25.

1.—(1) Income tax shall be charged for the year beginning on the 6th day of April, 1924, at the rate of five shillings in the pound, and super tax shall be charged-for that year at the following rates:—

In respect of the first two thousand pounds of the income

Nil.

In respect of the excess over two thousand pounds,

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

One shilling and sixpence.

For every pound of the next five hundred pounds of the excess

Two shillings.

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

Two shillings 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

Three shillings and sixpence.

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

Four shillings.

For every pound of the remainder of the excess

Four shillings and sixpence.

(2) The several statutory and other provisions which were in force during the year beginning on the 6th day of April, 1923, in relation to income tax and super tax shall, subject to the provisions of this Act, have effect in relation to the income tax and the super tax to be charged as aforesaid, for the year beginning on the 6th day of April, 1924.