Dividend Duties Act Amendment Act 1936 (WA)

No. 21.] Dividend Duties. [1936.

DIVIDEND DUTIES.

Enwn. VIII., No. XXI.

No. 21 of 1936.

AN ACT to amend Section six of the Dividend Duties

Act, 1902.

[Assented to 11th December, 1936.]

lative Council and Legislative Assembly of WesternBE it enacted by the King's Most Excellent Majesty,

by and with the advice and consent of the Legis- Australia, in this present Parliament assembled, and by the authority of the same, as follows:—

Short ti tle. 1.

This Act may be cited as the Dividend Duties Act Amendment Act, 1936, and shall be read as one with the Dividend Duties Act, 1902 (No. 32 of 1902), and its amendments as reprinted in the Sessional Volume of Statutes for the year 1930 (hereinafter called the princi- pal Act).

Amendment of	2.	Section six of the principal Act (as amended by
a. of the

principal Aot.

Acts No. 30 of 1906, No. 24 of 1915, No. 22 of 1918, No.

35 of 1924, and No. 47 of 1931) is hereby amended

(a) by adding a proviso to subsection (1) as fol-

lows:—

Provided that, where profits are made from the

sale of goods produced in mining in Western Aus-

tralia, the whole of the profits made from or in con-

1936.] Dividend Duties. [No. 21.

nection with such sale shall be deemed to be made by the company in Western Australia and in par- ticular, but without limiting the generality of this proviso, all money derived from any bonus or pre- mium received in connection with the sale of such goods shall be taken into account in computing such profits: Provided further; that the foregoing pro- viso shall apply to the assessment of all profits as

follows

(a)	in respect of companies which balance their accounts on the thirty-first day of Decem- ber in each year, to the profits of the year ended on the thirty-first day of December, one thousand nine hundred and thirty-one, and to the profits of each subsequent year; and
(b)	in respect of companies which balance their accounts other than on the thirty-first day of December, to the profits of the year first ended subsequent to the thirty-first day of December, one thousand nine hundred and thirty-one, and to the profits of each subse- quent year :

Provided further, that any company which has not already made returns in respect of profits assess- able under this proviso shall make such returns to the Commissioner within sixty days from the date this proviso takes effect, and where such return is duly made and the duty assessable is paid within the prescribed time, then neither the company nor any other person shall be liable to any penalty or fine by reason of such ja• as not having been pre- viously returned.

(b) by adding the following proviso at the end of sub.

section nine:

Provided that, where any company subject to the exemption prescribed by this section carries on busi- ness in Western Australia and elsewhere, the ex- emption of profits from taxation shall apply only to an amount equal to the capital expended by the company in Western Australia in the purchase of mining leases, the development thereof, and the

No. 21.] Dividend Duties. [1936.

cost of plant erected thereon: Provided further, that the foregoing proviso shall apply to the assess- ment of all profits, as follows :—

(a)	hi respect of companies which balance their accounts on the thirty-first day of Decem- ber in each year, to the profits of the year ended on the thirty-first day of December, one thousand nine hundred and thirty-one, and to the profits of each subsequent year;. and
(b)	in respect of companies which balance their accounts other than on the thirty-first day of December, to the profits of the year first. ended subsequent to the thirty-first day of December, one thousand nine hundred and thirty-one, and the profits of each subse- quent year,

and the provisions of the last proviso to subsection

(1) of this section shall apply mutatis mutandis.

Citation of

onnoipa/ Aot 3. The principal Act and its amendments as amended

emended. by this Act may be cited as the Dividend Duties Act,