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Computation of standard total income.
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8.—(1) The standard total income of an individual who has carried on during the whole of the year beginning on the 6th day of April, 1941, either solely or in partnership with another person or other persons, a trade or business to which this Part of this Act applies shall be computed for the purposes of this Part of this Act in accordance with whichever of the following paragraphs is applicable, that is to say:—
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(a) if such individual has, for three or more consecutive years ending on the 5th day of April, 1940, been in receipt of income chargeable to income tax, the standard total income of such individual shall be the amount of his total income for one (to be selected by him or (in default of such selection) by the Revenue Commissioners) of the last three of those years or the sum of two thousand five hundred pounds, whichever is the greater;
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(b) if such individual has, for two but not for three consecutive years ending on the 5th day of April, 1940, been in receipt of income chargeable to income tax, the standard total income of such individual shall be the amount of his total income for one (to be selected by him or (in default of such selection) by the Revenue Commissioners) of those two years or the sum of two thousand five hundred pounds, whichever is the greater;
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(c) if such individual has not been in receipt of income chargeable to income tax for two consecutive years ending on the 5th day of April, 1940, but has been in receipt of income chargeable to income tax for the year ending on the said 5th day of April, 1940, the standard total income of such individual shall be his total income for the said year ending on the 5th day of April, 1940, or the sum of two thousand five hundred pounds, whichever is the greater;
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(d) in any other case the standard total income of such individual shall be the sum of two thousand five hundred pounds.
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(2) The standard total income of an individual who by reason of his death has carried on during part only of the year beginning on the 6th day of April, 1941, either solely or in partnership with another person or other persons a trade or business to which this Part of this Act applies shall be such amount as bears to the amount which would be his standard total income under the foregoing sub-section of this section if he had so carried on the said trade or business during the whole of the said year the same proportion as the part of the said year during which he so carried on the said trade or business bears to twelve months.
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