69. Assessment of child’s income

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

Where during any year of assessment an individual who is a child reaches the age of eighteen or marries, then for that year of assessment–

(a)

the total statutory income of that individual shall not be aggregated with and deemed to form part of the total statutory income of his parent;

(b)

any sum which could be deducted from the total statutory income of that individual under section 32 shall not be deducted from the total statutory income of his parent;

(c)

any qualifying payment within the meaning of section 34 made by that individual shall not be deemed to be a qualifying payment made by his parent, and such child shall be liable to pay income tax for that year of assessment calculated as though he was an individual who is not a child throughout that year of assessment.

(2)

Where during any year of assessment the marriage of the parents of a child ceases to subsist or is deemed not to subsist–

(a)

the total statutory income of that child for that year of assessment shall be aggregated with and deemed to be part of the total statutory income of his father;

(b)

any sum which could be deducted for that year of assessment from the total statutory income of that child under section 32, shall be deducted from the total statutory income of his father;

(c)

any qualifying payment within the meaning of section 34 made by that child in that year of assessment shall be deemed to be a qualifying payment made by his father.

(3)

For the purposes of subsection (2), a marriage shall not be deemed to subsist if the wife is living apart from her husband under the decree of a competent court or a duly executed deed of separation, or if the husband and wife are in fact separated in such circumstances that the separation is likely to be permanent.

B-RECEIVER, TRUSTEE, EXECUTOR, &C,.

Read on from s 70