Compulsory deposit exemption: senior individuals relieved from compulsory deposits and assessment year applicability and rate rules amended. Amendment revises the Compulsory Deposit Scheme to extend its applicability across successive assessment years up to the stated cut off, adds an exemption that relieves qualifying senior individuals and persons assessable on their total income from compulsory deposits when the individual is over seventy at the start of the preceding financial year, and substitutes the clause on applicable deposit rates to apply specified rates from Paragraph B of the Schedule for the relevant assessment years.
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Compulsory deposit exemption: senior individuals relieved from compulsory deposits and assessment year applicability and rate rules amended.
Amendment revises the Compulsory Deposit Scheme to extend its applicability across successive assessment years up to the stated cut off, adds an exemption that relieves qualifying senior individuals and persons assessable on their total income from compulsory deposits when the individual is over seventy at the start of the preceding financial year, and substitutes the clause on applicable deposit rates to apply specified rates from Paragraph B of the Schedule for the relevant assessment years.
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