Customs and Inland Revenue Act, 1887

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Part III.

Income Tax.

[S. 17 rep. 8 Edw. 7. c. 49 (S.L.R.).]

Farmer may elect to be charged under Schedule D.

18. It shall be lawful for any person occupying lands for the purposes of husbandry only to elect to be assessed to the duties of income fax chargeable under Schedule D., and in accordance with the rules of that schedule, in lieu of assessment to the duties under Schedule B.

The election of such person shall be signified by notice in writing delivered personally or sent by post in a registered letter to the surveyor of taxes for the district within two calendar months after the commencement of the year of assessment; and from and after the receipt of such notice the charge upon him to the duties of income tax for such year shall be under Schedule D., and the profits or gains arising to him from the occupation of the lands shall for all purposes be deemed to be profits or gains of a trade chargeable under that schedule.

[Ss. 19–21 rep. 8 Edw. 7. c. 49 (S.L.R.).]