Financial Resolutions. - Resolution No. 2.—Sur-Tax.

I move:—

(1) That, notwithstanding anything to the contrary contained in section 1 of the Finance Act, 1960 (No. 19 of 1960), sur-tax for the year beginning on the 6th day of April, 1960, shall not be charged in respect of the income of any individual the total of which from all sources does not exceed two thousand five hundred pounds and, in respect of the income of any individual the total of which from all sources exceeds two thousand five hundred pounds, sur-tax for the year beginning on the 6th day of April, 1960, shall be charged at the following rates, that is to say:

In respect of the first two thousand five hundred pounds of the income

Nil.

In respect of the excess over two thousand five hundred pounds,

for every pound of the first two thousand pounds of the excess

Two shillings and sixpence.

for every pound of the next three thousand pounds of the excess

Five shillings.

for every pound of the remainder of the excess

Seven shillings and sixpence.

(2) That section 3 of the Finance Act, 1928 (No. 11 of 1928), shall, in relation to the sur-tax for the year beginning on the 6th day of April, 1960, have effect subject to the provisions contained in the foregoing paragraph.

(3) It is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927).

Resolution put and agreed to.