Dividend Duties Act Amendment Act 1918 (No. 2) (WA)

1918.] Dividend Duties—Amendment (No. 2). [No. 40.

DIVIDEND DUTIES—AMEND-

IVIE_NT (No. 2).

9° GEO. IT., No. XXX.

No. 40 of 1918.

AN ACT to further amend the Dividend Duties Act, 1902.

[Assented to 24th December, 1918.]

BE it enacted by the King's Most Excellent Majesty, byCouncil and Legislative Assembly of Western Australia, inand with the advice and consent of the Legislative

this present Parliament assembled, and by the authority of

the same, as follows:—

1.    This Act may be cited as the Dividend Duties Act Short title.

Amendment Act, 1918 (No. 2), and shall be read as one with

the Dividend Duties Act, 1902, hereinafter referred to as the

principal Act, and its amendments.

2.	A subsection is hereby inserted in section seven of the Mining	development
development ev

Act, as follows :—

(8.) The profits made in any year on and after the 1st

day of July, 191.7, by a mining company, shall be assessed, after allowing as a deduction the cost actually incurred during the year by the company for labour and materials employed in development work, as prescribed, including the cost incurred on and after the 1st day of July, 1918, in testing and working mines held under an option of purchase.

3. A section is hereby inserted in the principal Act, and Interest ou Western

shall have effect as follows:—	stocks.
Australian

37. Interest on Western Australian Government de- bentures, inscribed stock, and treasury bills or bonds received on and after the 1st day of July, 1917, by any company, shall be exempt from duty under this Act.

Provided that such exemption shall not affect the duty payable under section eight by insurance companies on the anmunt of premiums received.

No. 40.] Dividend Duties--,Amendment (No. 2). [1918.

‘RvarinaIievet 4. All copies of the principal Act hereafter printed by the

moats. Government Printer shall be printed as amended by this Act,

under the supervision of the Clerk of Parliaments, and refer-

ences to this Act shall be made in the margin.