Community investment tax relief manual

CITM6040 - Tax Relief: Individual Investors - determination of Income Tax liability

ITA/s335; ITA/s23; ITA/s27

The steps to be taken when calculating an individual바카라 사이트™s liability to Income Tax are set out in Section 23 of Income Tax Act 2007. The tax reduction due under the CITR scheme is brought in at Step 6 of the calculation set out there. Where an individual may make claim to a number of tax reducing reliefs Section 27(4) sets out the order of priority for giving effect to those reliefs.