CHAPTER 75:01 - Inland Revenue Division

Income Tax Act Mac 1
Vol. 1
(a) twenty-five thousand dollars, where construction commenced
after 31st December 1967, but not later than 31st December 1973; Act No.14 of 1976
(b) forty thousand dollars, where construction commenced after
31st December 1973, but not later than 31st December 1975;
(c) sixty thousand dollars where construction commenced after
31st December 1975, but not later than 31st December 1976;
(d) eighty thousand dollars where construction commenced after
31st December 1976, but not later than 31st December 1979; or Act No.46 of 1977
(e) two hundred and fifty thousand dollars where construction
commenced after 31st December 1979. Amended by Act No.18 of 1989
(6) For the purposes of subsection (2)(e), "service charge" means a service
charge prescribed by the Minister as the charge for administering a
mortgage, that is not a guaranteed mortgage. Act No.14 of 1976
66 (7) The exemption as to rent referred to in subsection (2)(b) shall not be
granted where the monthly rental income, whether payable to the owner or
to any other person, in any month of the year of income - Act No.1 of 1979
(a) in respect of an unfurnished letting, exceeds seven hundred and
fifty dollars;
(b) in respect of an unfurnished letting, in connection with which
services are provided, exceeds eight hundred and twenty-five
dollars;
(c) in respect of a furnished letting, exceeds nine hundred dollars;
or
(d) in respect of a furnished letting in connection with which
services are provided, exceeds nine hundred and seventy five
dollars.
67 (8) In subsection (7) - Act No.1 of 1979
"furnished letting" means a house rented with furniture consisting
of a stove, a refrigerator, a bed, and living and dining room
furniture;
"services" includes any utility for which the landlord pays the
supplier of that utility.
66 BIR Note: Effective 1st January, 1979
67 BIR Note: Effective 1st January 1979.
BIR Mac Edition 91/01 Page 71