Income Tax (Amendment No. 39) (Jersey) Law 2011

Income Tax (Amendment No. 39) (Jersey) Law 2011 A LAW to amend further the Income Tax (Jersey) Law 1961. Adopted by the States 22nd July 2011 Sanctioned by Order of Her Majesty in Council 16th November 2011 Registered by the Royal Court 9th December 2011 THE STATES , subject to the sanction of Her Most Excellent Majesty in Council, have adopted the following Law – 1 Article 135A of the Income Tax (Jersey) Law 1961 amended In Article 135A of the Income Tax (Jersey) Law 1961 [1] – (a) at the beginning of paragraph (3) there shall be inserted the words “Subject to paragraph (3A),”; (b) after paragraph (3) there shall be inserted the following paragraphs – “(3A) Paragraphs (3B) and (3C) apply in a person’s case instead of paragraph (3) if – (a) the person acquires land or property conferring a right to occupy land pursuant to a 1(1)(k) housing consent granted pursuant to an application made on or after the day that the Income Tax (Amendment No. 39) (Jersey) Law 201- comes into force; and (b) the person has not previously been granted a 1(1)(k) housing consent. (3B) Notwithstanding the rate of tax required by Article 1 to be charged for a year of assessment, where, for a year of assessment, so much of the income of a person to whom this paragraph applies by virtue of paragraph (3A) as is chargeable to tax under Schedule D exceeds the limit prescribed for the purposes of this paragraph for that year, the amount of the excess of that income chargeable to tax under Schedule D shall be charged to tax at the rate prescribed for the purposes of this paragraph. (3C) In calculating, for the purposes of paragraph (3B), the amount of a person’s income chargeable to tax under Schedule D there shall be disregarded any dividend declared out of profits or gains charged to tax at the standard rate on any body of persons.”; (c) in paragraph (4) – (i) for the words “for the purposes of paragraph (3),” there shall be substituted the words “for the purposes of each of paragraphs (3) and (3B),”, (ii) for the words “that paragraph” there shall be substituted the words “the paragraph”; (d) in paragraph (5) before the definition “1(1)(k) housing consent” there shall be inserted the following definition – “ ‘application’ means an application for 1(1)(k) housing consent made under Article 13 of the Housing (Jersey) Law 1949 [2] ;”. 2 Citation This Law may be cited as the Income Tax (Amendment No. 39) (Jersey) Law 2011. a.h. harris Deputy Greffier of the States [1] chapter 24.750 [2] chapter 18.315