Member share taxation: member's share excluded unless the association's income is not chargeable or taxed at higher rate.

A member is ordinarily not liable to tax on his computed share of an association's income, but if no income-tax is chargeable on the association's total income the member's share is taxable as part of his total income; where no tax is payable by the member, the share is excluded from his total income only if the association is chargeable at the maximum marginal or a higher rate, otherwise the share must be included.

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