Income Tax Act 23 of 1922

Income Tax Act, 1922 [No. 23 of 1922]

Act

to fix the rates of normal income tax and super-tax in respect of the twelve months ended the thirtieth day of June, 1922.

Be it enacted by the King's Most Excellent Majesty, the Senate and the House of Assembly of the Union of South Africa, as follows :-

Rate of normal income tax.

1. In accordance with sub-section (3) of section five of the Income Tax (Consolidation) Act, 1917 (Act No. 41 of 1917), there shall be levied in respect of every taxable income (as in that Act defined) which has accrued to or in favour of any person during the twelve months ended the thirtieth day of June, 1922, an income tax (referred to in that Act as normal tax) at the rates specified in sub-section (1) of section one of the Income Tax (Consolidation) Act Further Amendment Act, 1921 (Act No. 29 of 1921).

Rate of super-tax.

2. In accordance with sub-section (4) of section twenty-five of the Income Tax (Consolidation) Act, 1917 (Act No. 41 of 1917), there shall be levied in respect of every income subject  to super-tax (as defined in section twenty-six of that Act, as amended by the Income Tax (Consolidation) Act Amendment Act, 1919 (Act No. 39 of 1919), which shall have accrued to or in favour of any individual during  the twelve months ended the thirtieth day of June, 1922, a super-tax at the rates specified in sub-section (2) of section one of the Income Tax (Consolidation) Act Further Amendment Act, 1921 (Act No. 29 of 1921).

Short title.

This Act may be cited for all purposes as the Income Tax Act, 1922.

Commencement

12 July 1922