Page:Inland Revenue Ordinance, 1947 (Cap. 112).pdf/29

A.D. 1947]

(2) For the purpose of this Section—

“resident of the Colony” means an individual who stays in the Colony for a period or a number of periods amounting to more than one hundred and eighty days during the year of assessment in respect of which the election is made or for a period or periods amounting to more than three hundred days in two consecutive years of assessment, one of which is the year of assessment in respect of which the election is made.

43. (1) In giving effect to an election under the provisions of this Chapter the Assessor shall make a single assessment in the sum of the total income, reduced by the following allowances—
 * (a) An allowance of seven thousand dollars.
 * (b) An allowance of five thousand dollars if at any time during the year preceding the year of assessment the individual had a wife.
 * (c) An allowance of two thousand dollars if the individual had living at any time during the year preceding the year of assessment an unmarried child who was under the age of 21 years, and where he had more than one such child, an allowance of two thousand dollars for the second child and one thousand dollars each for the third and fourth child and two hundred dollars for each subsequent child:

Provided that—
 * (i) no such allowance shall be made in respect of a child whose income from any source for the year preceding the year of assessment exceeded two thousand dollars;
 * (ii) no such allowance shall be made in respect of a child who carried on or exercised during the year preceding the year of assessment a trade, profession, business, vocation or employment, other than employment proved to the satisfaction of the Commissioner to be apprenticeship;
 * (iii) the total allowances in respect of children shall not exceed in all seven thousand dollars.
 * (d) The annual amount of any premium paid in respect of any individual on the life of the individual or on the life of his wife in any Insurance Company or the annual contribution made by the individual to the Widows’ and Orphans’ Pensions Scheme of the Colony or such other scheme or fund