Income Tax Act Amendment Act of 1906 (6 Edw VII No. 11) (Qld)

HARBOURS-INCOME TAX. 6 EDw. VII. No. 11, 1906. InC01ne Tax Act Amendment Act. under section ten of " The Harbmtr Boards Act, 1892,"* vary, in such manner as appears to him expedient, the scale of harbour dues fixed and enacted by the Schedule to " The Harbour ])ues Act of 1893 Ht as amended by "The Harbour ])ues and Harbour Boards Acts Amendment Act of 1905 "t; and thereupon harbour dues shall be raised, levied, collected, and paid in respect of such harbour in accordance with the scale so varied. 9063 INCOME IJ:!AX. An Act to Amend the Income Tax Act. 6 Edw. VII. No.n. [ASSENTED '1'0 13TH NOVEMBER, 1906.] T; ~ ! Nl~ ~ E W E Y .our Maj · esty's most dutI . ful an d loyal subj . ects, AACMTENODF M19E0N6T. the members of the Legislative Assembly of Preamble. Queensland in Parliament assembled, towards raising the necessary supplies to defray Your Majesty's public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and grant unto Your Majesty the several duties hereinafter mentioned, and do, therefore, most humbly beseech Your Majesty that it may be enacted; and be it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of ~ ueensland in Parliament assembled, and by the authority of the same, as follows : - 1. This Act may be cited as " The Income Tax Act Short title Amendment Act of 1906," and shall be read as one~ ~ ~struction with" The Income Tax Act of 1902,"§ herein called the of Aet. Principal Act. 2. The first period for which assessments of income Oommence- sSUhablsleqbueenmt aAdectsunadnedr btyhethPI· SriAncctipsahla 1 A 1 ccto · masmeanmceendoend tbhy e mapseesreniostsdmoofefnt. first day of January, one thousand nine hundred and six, and, subject to thp l'rincipal Act, all subsequent annual periods shall be reckoned from that date, and to that extent this Act shall have retrospective operation. * 56 Vie. No. 26, supra, page 4575. t 57 Vie. No. 19, supra, page 4822. :j: 5 Edw. VII. No. 32, supra, page 8860. § 2 Ed w. VII. No. 10; supra, page 8275

INCOME TAX. income Tax Act Amendment Act. 6 EDw. VIr. No. n, Amendment 3. In section three of the Princlpal Act, after the Act. ; rZ; c~ ; \ ~e: finition of Commissioner, the following definition is :mserted:- Dividend. "Dividend"-All sums of money paid, allocated, distributed, or credited by a company to or amongst its shareholders as such, by whatever mame called; the term does not include- (a) Refundment on reduction of capital where such refundment is only made in respect of call money on shares actually paid by the shareholders; or (b) Such portion of liquidation dividends as does not exceed the amount of call money on shares actually paid by the shareholders. .Alttlratum of 4. Subsection (i.) of section seven of the Principal rates of tax. Act as enacted by section five of " The Income Tax Act Amendment Act of 1904 ,,* is repealed. In subsection Cii.) of the said section, the following provisions, namely- If the total income subject to the tax- Exceeds £100 and does not } The fixed sum exceed £125 '" of 10s. Exceeds £125 and does not } The fixed sum exceed £150 ... . of £1 £100 exempt, Exceeds £150 and does not } and 6d. in exceed £300 ... each and every £ over £100 Exceeds £300 and does not } 6d. in each and exceed £500 every £ are repealed, and the following provision, namely-' If the total income subject to the tax- Does not exceed £500 ... } 6d. evineryea£ ch and is inserted in lieu thereof, and the said subsection shall be numbered (i.) Subsection (iii.) of the said section is repealed, and the following subsections are inserted in lieu thereof:- (ii.) On all income derived from the} Is. in each and produce of property ... ." every £. if< 4. Edw. VII. No. 9, supra, page 8718.

INCOME TAX. 9065 1906. Income Tax Act Amendment Act. (Hi.) Provided that- (a) A person, not being a company or an absentee, whose total income, whether derived from personal exertion or from the produce of property, or partly from personal exertion and partly from the produce of property, during the year in respect of which the assessment is made, did not amount to £160 shall not be liable to tax; (b) In respect to any person, not being a company or an absentee, whose total assessable income, whether derived from personal exertion or from the produce of property or partly from personal exertion and partly from the produce of property, during the year in respect of which the assessment is made, amounted to £160 or upwards and did not exceed £200, £120 of such income shall be exempt from tax, and in deducting such £120 the income from personal exertion, if any, shall be first resorted to; and where such total assessable income did exceed £200 and did not exceed £300, £100 of such income shall be exempt from tax, and in deducting such £100 the income from personal exertion, if any, shall be first resorted to. 5. In section fourteen of the Principal Act, after the Amendment words" for the purposes of his business," the words "and of s. 14. also by reason of depreciation of any bore, well, dam, or other improvement made for the conservation of water, or for any fence" are inserted; after the word "articles," the words" or such bore, well, dam, or other improvement for the conservation of water, or fence" are inserted. The following provision is added to the said section : - Provided that where any sum is allowed to be deducted for depreciation of any str~ cture, matter, or thing herein mentioned no deduction shall be allowed for any renewal or repair of the same structure, matter, or thing. 6. A!ter section twenty of the Principal Act, the following section is inserted :- [20A.] All moneys received by any person as or byRoy~lty . way of royalty shall be deemed to be part of the income f~ ~ ~ ~ : d IS f orfosmucthhepeprrsoodnu, cean 0 d f pshroapllebrtey. deemed to be income derived dpperrooridpvueecrdteyf. orofm C

9066 INCOME TAX. Income Tax Act Amendment Act. 6 Euw. VII. No. 11, 1906. l A lf m s. en 3 d 2. ment thirty 7 - . twIon tohfe tfhirest PprairnacgirpaaplhAocft suasbseacmtieonndeodneboyf sseeccttiioonn thirteen of "The Income Tax Act Amendment Act of 1904,"* after the word "absentee," the words "or person absent from Queensland" are inserted; also, after the words "brought into Queensland," the words "and whether the contract is made by the agent in Queensland or by or on behalf of the principal out of Queensland" are inserted; also, after the words "or otherwise," the words "the moneys arising therefrom shall be deemed to be income accruing to the principal from a business carried on by him in Queensland and" are inserted. Amendment 8. In subsection one of section thirty-nine of the ()f 8. 39. Principal Act, after the words" one hundred," the words " and sixty" are inserted. Amendment of 8. 4OA. 9. The following provision is added to section 40A of the Principal Act as enacted by section fourteen of "The Income Tax Act Amendment Act of 1904 ,,* :- If any person, who, if he had lived, would have been liable to make a return under this Act, dies at any time before the prescribed date for making such return, such return shall be made by his legal personal representative, either on such prescribed date or earlier if required by the Commissioner or within such extended time as the Commissioner may allow; and thereupon the assessment of income for the period covered by such return shall be made, and the tax shall be payable thereon out of such person's estate, as if such death had not taken place. INDUSTRIAL SCHOOLS. See REFORMATORIES. INTESTATE MARRIED WOMEN. See SUCCESSION. 4 Edw. VII. No. 9, supra, page 8718.