(1)Super-tax shall be charged in respect of the income of any individual the total of which from all sources exceeds two thousand pounds, and Part II. of the [8 & 9 Geo. 5. c. 40.] Income Tax Act, 1918, shall have effect accordingly.
(2)The rates of super-tax for the year 1920-21 shall, for the purposes of section four of the Income Tax Act, 1918, as amended by this Act, be as follows :—
| In respect of the first two thousand pounds of the income | Nil. |
| In respect of the excess over two thousand pounds— | |
| For every pound of the first five hundred pounds of the excess | One shilling and sixpence. |
| For every pound of the next five hundred pounds of the excess | Two shillings. |
| For every pound of the next one thousand pounds of the excess | Two shillings and sixpence. |
| For every pound of the next one thousand pounds of the excess | Three shillings. |
| For every pound of the next one thousand pounds of the excess | Three shillings and sixpence. |
| For every pound of the next one thousand pounds of the excess | Four shillings. |
| For every pound of the next one thousand pounds of the excess | Four shillings and sixpence. |
| For every pound of the next twelve thousand pounds of the excess | Five shillings. |
| For every pound of the next ten thousand pounds of the excess | Five shillings and sixpence. |
| For every pound of the remainder of the excess | Six shillings. |
(3)All such enactments relating to super-tax as were in force with respect to the super-tax granted for the year 1919-20 shall have full force and effect with respect to the super-tax granted under this section.
(4)In estimating the total income of any individual for the purpose of super-tax, the amount of any earned income shall be taken to be the full amount of that income without the deduction of any allowance under this Part of this Act, and section five of the Income Tax Act, 1918, shall have effect accordingly.