Land and Income Tax (Annual) Act 1970
Archived legislative commentary on the Land and Income Tax (Annual) Act 1970 from PIB vol 42 Sep/Oct 1967.
This commentary item was published in Public Information Bulletin Volume 42, September/October 1967
This Act fixes the rates of land tax, income tax, excess retention tax and bonus issue tax for the year ending 31 March 1971.
The 1970 Annual Act as originally enacted did not alter any of these rates from those applying in the previous year.
Following the announcement on 27 October 1970 the Act was amended to introduce the surcharge of 3 1/3% on all "individual" rates of income tax.