14General exemption

#### 14 General exemption (1) For the purpose of ascertaining the tax payable by an employer, there shall, subject to the next succeeding subsection, be deducted from the amount of the wages included in a return furnished in accordance with section eighteen or section nineteen of this Act, or from the amount of any wages assessed by the Commissioner in pursuance of section twenty‑three of this Act: (a) where the return or assessment relates to a month—the amount prescribed in subsection (1B) of this section in respect of that month; or (b) where the return or assessment relates to a period of more than one month—for each month included in that period the amount prescribed in subsection (1B) of this section in respect of that month. (1A) For the purpose of ascertaining the tax payable by an employer who was an employer during part only of a month, the amount to be deducted for that month from the amount of the wages included in a return or assessment relating to that month shall be the amount which bears to the amount prescribed in the next succeeding subsection in respect of that month the same proportion as the number of days in that month during which the employer was an employer bears to the total number of days in that month. (1B) For the purpose of the last two preceding subsections: (a) the amount prescribed in respect of the month of September, One thousand nine hundred and fifty‑three, or in respect of a previous month, is Eighty‑six pounds thirteen shillings and fourpence; (b) the amount prescribed in respect of each month from and including the month of October, One thousand nine hundred and fifty‑three, to and including the month of August, One thousand nine hundred and fifty‑four, is Three hundred and forty‑six pounds thirteen shillings and fourpence; (c) the amount prescribed in respect of each month from and including the month of September, One thousand nine hundred and fifty‑four, to and including the month of August, One thousand nine hundred and fifty‑seven, is Five hundred and twenty pounds; (d) the amount prescribed in respect of each month from and including the month of September, One thousand nine hundred and fifty‑seven, to and including the month of January, One thousand nine hundred and sixty‑six, is Eight hundred and sixty‑six pounds thirteen shillings and fourpence; and (e) the amount prescribed in respect of the month of February, One thousand nine hundred and sixty‑six, and in respect of each subsequent month, is One thousand seven hundred and thirty‑three dollars and thirty‑three cents. (2) Where the amount to be deducted in pursuance of this section from the amount of any wages included in any return or assessment relating to a period included in any financial year exceeds the amount of the wages included in that return or assessment, the amount of the excess shall be deducted from the wages included in the return or assessment next made by or on the employer in respect of a period included in that financial year.