Jersey Law 21/1963

INCOME TAX (AMENDMENT No. 3) (JERSEY) LAW, 1963.

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A LAW     to amend the Income Tax (Jersey) Law, 1961, sanctioned by Order of Her Majesty in Council of the

23rd day of OCTOBER, 1963

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(Registered on the 22nd day of November, 1963).

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STATES OF JERSEY.

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The 28th day of March, 1963.

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THE STATES, subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law :  -

ARTICLE 1

After the definition of “earned income” in paragraph (1) of Article 3 of the Income Tax (Jersey) Law, 1961,1 as amended,2 (hereinafter referred to as “the principal Law”) there shall be inserted the following definition –

“ ‘enactment’ includes any enactment of the United Kingdom;”.

ARTICLE 2

(1)           In sub-paragraph (a) of Article 115 of the principal Law,3 after the word “established” there shall be inserted the words “in the Island”.

(2)           After sub-paragraph (a) of the said Article 115 there shall be inserted the following sub-paragraph –

“(aa) any income derived from the property of a corporation, association or trust established in the United Kingdom for a charitable object, where exemption from United Kingdom income tax is allowed in respect of such income under section 447 of the Income Tax Act, 1952 (of the United Kingdom) ;”.

(3)           After sub-paragraph (e) of the said Article 115 there shall be inserted the following sub-paragraphs –

“(f)    any income derived by an assurance company from investments and deposits of so much of the company’s annuity fund as is referable to pension annuity business, where exemption from United Kingdom income tax is allowed in respect of such income under section 24 of the Finance Act, 1956 (of the United Kingdom) ;

(g)     any income derived by a superannuation fund from investments or deposits of that fund, where the fund is a superannuation fund within the meaning of section 379 of the Income Tax Act, 1952 (of the United Kingdom).”

ARTICLE 3

This Law may be cited as the Income Tax (Amendment No. 3) (Jersey) Law, 1963.

A.D. LE BROCQ,

Deputy Greffier of the States.