Clause 21

The Second Schedule to the principal Act is amended by inserting, immediately after Part B, the following Part:“Part CRates of Tax for the Computation of Relief under Section 40Chargeable Income $ Rate of TaxFor every dollar of the first 2,500 4%For every dollar of the next 2,500 6%For every dollar of the next 2,500 8%For every dollar of the next 2,500 10%For every dollar of the next 5,000 14%For every dollar of the next 5,000 16%For every dollar of the next 5,000 17%For every dollar of the next 10,000 20%For every dollar of the next 15,000 27%For every dollar of the next 50,000 34%For every dollar exceeding 100,000 37%.”.