Land and Income Tax (Annual) Act 1966
Archived legislative commentary on the Land and Income Tax (Annual) Act 1966 from PIB vol 23 Jun 1965.
This commentary item was published in Public Information Bulletin Volume 23, June 1965.
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Tax Rates
Sections 2, 3 and 4 fix the rates of land tax, ordinary and social security income tax and excess retention tax for the year commencing 1 April 1966. The 10 per cent - maximum £100 ordinary income tax rebate for individuals and the land tax rebate of 50 percent of the tax assessed continue.
Section 5 fixes the rate of bonus issue tax for the same year at 3s. 6d. in £1 (18c in $).