Finance Act, 1963
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Amendment of section 22 of Finance Act, 1920. |
12.—(1) Subsection (1) of section 22 of the Finance Act, 1920 , is hereby amended by the substitution of “one hundred and twenty pounds” for “one hundred and ten pounds”. | |
(2) (a) Subsection (1) of section 22 of the Finance Act, 1920 , is hereby amended— | ||
(i) by the substitution of “is less than one hundred and eighty pounds” for “does not exceed one hundred and twenty pounds”, | ||
(ii) by the insertion of “a person whose total income from all sources is less than one hundred and eighty pounds a year and being” before “a son or daughter”, | ||
(iii) by the addition of the following proviso: “Provided that each of the foregoing provisions of this subsection shall have effect, in a case in which the total income from all sources of the person in respect of whom the deduction is to be made exceeds one hundred and twenty pounds a year, as if, instead of specifying a deduction of sixty pounds, it specified a deduction of that amount reduced by the amount of the excess.” | ||
(b) Paragraph (a) of this subsection shall come into operation on the 6th day of April, 1964. |