Clause 45

The Second Schedule to the principal Act is amended by deleting Part A and substituting the following Part:“Part ARates of Tax on Chargeable Income of An Individual or A Hindu Joint FamilyChargeable Income Rate of TaxFor every dollar of the first $20,000 NilFor every dollar of the next $10,000 3.75%For every dollar of the next $10,000 5.75%For every dollar of the next $40,000 8.75%For every dollar of the next $80,000 14.5%For every dollar of the next $160,000 18.0%For every dollar exceeding $320,000 21.0%”.