Income Tax Act Amendment Act of 1907 (7 Edw VII No. 5) (Qld)

CRIMINAL LAW-INCOME TAX. 9197 7 Enw. VII. No. 5, 1907. Income Tax Act Amendment Act. the Judge or Police Magistrate shall certify this to the Attorney-General, or other Minister of the Crown for the time being administering the Department of Justice, who may, if he thinks fit, thereupon cause arrangements to be made for the defence of the accused person. 3. The expenses of carrying this Act into execution ~ ppropria. shall be defrayed out of moneys from time to time to be tlOn. appropriated by Parliament for the purpose. 4. Rules for carrying out this Act may be made in Rules. the same manner and subject to the same conditions as rules under" The Judicature Act."* DEFENCE OF POOR PRISONERS. See CRIMTNAL LAW. INCOME TAX. An Act to Amend the Income Tax Acts in certain 7 ENdwo.. 5 V . II. Particulars. THE INCOME TAX ACT AUENDUENT [ASSEXTED TO 19TH NOVEMBER, 1907.J ACT OF 1907. B E it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis- lative Council and Legislative Assembly of Queensland 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 Am • endment Act of 1907," and shall be r . ead as one aconnds t ruc t' IOn wIth ".The Income Tax Act of 1902,"t herem called the of Act. Principal Act. 2. The first period for which assessments of income Commence- shall be made under the Principal Act as amended by met;tt:f f subsequent Acts and by this Act shall commence on the ~ : ; ; ~ sm~ nt. first day of January, one thousand nine hundred and seven, and, subject to the Principal Act, all subsequent annual periods shall be reckoned from that date, and to that extent this Act shall have retrospective operation. '" 40 Vic. No. 6, supra, page 1918; and 64 Vic. No. 6, supra, page 7364. t 2 Edw. VII. No. 10, 8upra, page 8275.

9198 INCOME TAX. Income Tax Act Amendment Act. 7 Enw. VII. No. 5, .Alteration of 3. Subsection (ii.) of section seven of the Principal rates of tax. Act as enacted by section four of "The Income Tax Act Amendment Act of 1906 to* is repealed, and the following subsection, namely:- (ii.) On all income derived from} 9d. in each and the produce of property ... every £ is inserted in lieu thereof. In paragraph (a) of subsection (iii.) of section seven ' of the Principal Act as enacted by section four of "The Income Tax Act Amendment Act of' 1906,"* the words and figures "did not amount to £160" are repealed, and the words and figures " did not exceed £200 " are inserted in lieu thereof. In paragraph (h) of the said subsection (iii.), the words and figures following, namely-" amounted to £160 . or upwards and did not exceed £:WO, £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," ar~ hereby repealed; and the words and figures following, namely-" amounted to more than £200 then £200 of such income shall not be deemed to be part of the total income subject to tax, and accordingly shall be exempt from tax; and in deducting such £200 the income from personal exertion, if any, shall be first resorted to," are inserted in lieu thereof. 4. After section twenty of. the Principal Act as amended by section nine of " The Income 1 1 ax Act Amend- ment Act of 1904,"t the following sections are inserted, and section 20A of the Principal Act, as enacted by section six of " Tll,e Income Tax Act Amendment Act of 1906,"* shall accordingly be numbered 200 : - Optional [20A.] Any owner of live stock who desires to be lsi.m 2 i 0 taatsiotno of exempted from the provisions of the last preceding section, liv~ stock. so far as the same relate to the taking into account of the . value of all live stock and produce not disposed of at the beginning and end of each year in the assessment of his income, may give notice in writing to that effect signed by him or by his duly authorised agent and delivered at the office of the Commissioner, in the case of persons who at * 6 Edw. vu. No. 11, 8upra, page 9063. t 4 Edw.VII. No. 9, supra, page 8718.

1907. INCOME TAX. Income Tax Act Amendment Act. 9199 the commencement of this Act are owners of live stock not later than the thirty-first day of December, one thousand nine hundred and seven, or such later date as the Commis- sioner may allow, and in the case of persons who may thereafter become owners of live stock not later than the thirty-first day of December in the year in which they first become such owners respectively, or such later date as the Commissioner may allow. hy Every such notice when given shall be irrevocable such taxpayer and shall take effect in respect of the year in which the same is given and each succeeding year. Such notice shall have the following effect : - (i.) The Commissioner, in the assessment of the income of such taxpayer for the year in respect of which the notice was given and each succeeding year, shall not take into account the value of any live stock or produce not disposed of at the beginning and end of the year; (ii.) Save as hereinafter provided, such taxpayer shall not for any year in respect of which ·an assessment is made be entitled to make any claim as a deduction for or in connection with any live stock beyond the amount of money actually paid by him in that year for the purchase of live stock: Provided that, in computing the income subject to tax of such taxpayer for any year, there shall be allowed as a deduction from the proceeds of any live stock disposed of in that year, and in respect of which tax was theretofore paid, the value of such live stock; and such value shall be taken at the value upon which the tax was paid. [20:8.J Whenever any property consistilg partly of Sales of live stock is sold, the full value in money of suc~ live ~ ~ ~ h~ iv~ f stock shall be expressly stated in the contract relatmg to stock is a such sale, whether such sale is for a lump sum or not. part. If such value is not so stated, or if such contract has not been reduced to writing, then such value shall be assessed by the Commissioner at such amount as he deems just and reasonable. , In every such case the purchaser shall, for the pur- poses of this Act, be entitled to claim that the sum of money so expressly stated or so assessed is the amount paid by him for live stock upon such sale. Moreover, such sum shall be deemed to be income of the seller. The tax on such income shall, until paid, be and remain a

9200 INCOME TAX. Income Tax Act Amendment Aet. 7 EDw. VII. No. 5, ]907. charge upon the whole of the property included in such sale and upon every part thereof; and, if not paid by the seller, may be recovered from the purchaser in the same manner as if it were income of the purchaser. In computing the income of the seller under this section, there shall be allowed as a deduction therefrom- (a) The value of live stock on the said property • ahtuntdhreedeanndd osifx,tahse shyoewarn oinnehitshroeutsuarnndtontihnee Commissioner for the year one thousand nine • (b) Whuhnedreredthaendprsoipxe; rtoyr ha•s been purchased since the first day of January, one thousand nine hundred and seven, and subsequently sold, the value of live stock thereon at the time of such purchase as expressed in the said contract of sale or assessed by the Commissioner as afore- said, less any portion of such value which has been already allowed to him as a purchase of stock. Amendment 5. In subsection one of section thirty-nine of the of s. 39. Principal Act as amended by section eight of " The Income Tax Act Amendment Act of 1906,"* the words "one hundred and sixty" are repealed, and the words "two hundred" are inserted in lieu thereof. PRISONERS, DEFENCE OF POOR. See CRIMINAL LAW. 6 Edw. VII. No. 11, supra, page 9063.