Income Tax Act of 1924 (15 Geo v No. 34) (Qld)

IXCO~ \ lE TAX. ss. 1, 2. 15 GEO. V. No. 34, 1924. Income Tax Act. 21. THIS Agreement shall come into operation on the day of the date hereof and shall continue in force for a period of five years lmd thereafter until the expiration of not less than six calendar months' notice in writing given by either party to the other of intention to determine it. As WITNESS the hand of the Acting Prime Minister of the Commonwealth of Australia for and on behalf of the said Common- wealth and the hand of the Premier of the State of Queensland for and on behalf of the said State the day and year first above written. SIGNED by the Acting prime} Minister of the Common- wealth of Australia for and (Sgd.) on behalf of the said Com- EARLE PAGE. monwealth in the presence of- (Sgd.) E. K. BOWDEN. SWNED by the Premier of the}' © State of Queensland for and (Sgd.) on behalf of the said State in EDWARD G. THEODORE. the presence 01- (Sgd.) E. K. BOWDEN, Minister for Defence. 10945 An Act to Consolidate and Amend the Law 15 Geo. V. Relating to the I mpositl . on, A ssessmen t , TH N E o I . N 3 C 4 O . ME and Collection of a Tax upon Incomes. . ~ ! Xl~ ~: [ASSENTED TO 1ST NOVEMBER, 1924. ] B E it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis- Jative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows : - PART I.-PRELIMINARY. p~ ~ ~ ~ i~ ¥ . 1. This Act may be cited as " The Income Tax Act Short title. Of 1924." 2. This Act is divided into Parts, as follows :- PART I.-PRELIMINARY; PART n.-ADMINISTRATION; PART lIl.-LIABILITY TO TAXATION; Parts of Act•.

10946 PART I.- PRELIMINARY. S.3. INCOME TAX. Income Tax Act. 15 GEO. V. No. 34, PART IV.-RETURNS AND ASSESSMENTS; PART V.-RATES OF TAX; PART VI.-OBJECTIONS AND APPEALS; PART VII.-COLLECTION OF TAX; PART VIII.-PENAL PROVISIONS AND PROCEEDINGS; PART IX.-MISCELLANEOUS. LEGAL Repeal. Schedule. 3. (1.) The Acts mentioned in the Schedule to this Act are repealed. The said Acts are herein referred to as "the repealed Acts." SavingR. Tax under repealcd Acts. (2.) Without prejudice to the provisions of the * Acts Shortening Acts, notwithstanding the repeal of the repealed Acts :- (i.) All income tax, including super tax and any additional tax or other increase of tax whether by way of penalty or otherwise, in respect of any income during any period payable or leviable under the repealed Acts or any of them may be assessed and demanded and shall be enforceable and recoverable and all penalties and fines incurred under the repealed Acts shall be enforceable and recoverable as if this Act had not been passed, and for that purpose the repealed Acts and all regulations made thereunder shall remain in force without limit of time. Dfficers. Documonts made evidence. Bxisting registrations. (ii.) All State officers and all members of the Board for the registration of tax agents appointed under the repealed Acts and holding office at the passing of this Act shall be deemed to have been appointed under this Act. (iii.) All books and documents made evidence under the repealed Acts shall continub evidence to the same extent as if this Act had not been passed. (iv.) All registrations made or granted under the repealed Acts and in force at the passing of this Act shall continue in force for the period (if any) specified in such registrations unless the same are sooner suspended, cancelled, or revoked under or in pursuance of this Act. * 31 Vic. No. 6 and amending Act, supra, page 15.

INOOME TAX. s.4. --- - ------ ~ ~ ~ ~~ ~ ~~ ~ - ~ - - ~ - - ~ ~ - - - -- ~ -~ -~- --- --- --- ~-~ PART I.-- 1924. Income. Tax Act. PRELIMINARY. - ~ -. - ~ ~~ ~ ~~ ~ ~- - - ~ ~ - - - ~ ~ - - - ~ - ~ - - - - ~ - - ~ -- ~ -- - -- - - (v.) Nothing in this Act contained shall be con- Notices strued SO a . s to preJ·udi . ce the rig . ht of anyu ° nf dreepresa·1e2d2 owner of live stock WhICh has arIsen under Acts. section twenty-two of the repealed Acts. (vi.) Every public officer of a company holding that Public office at the passing of this Act for any of thecoo , ffi m cepr a n y of . purposes of the repealed Acts shall be the public officer of that company for all the purposes of this Act, and this Act shall apply to that company and that public officer accordingly. 4. In this Act, unless the context otherwise indicates, Interpreta- the following terms have the meanings set against them tion. respectively, that is to say- "Absentee"-A person who does not ordinarily Absentee. reside in Australia or in a Territory under the authority of the Commonwealth: the term includes a person who has been absent from Australia and such Territories during more than half of the income year, unless he satisfies the Commissioner that he ordinarily resides in Australia or a Territory under the authority of the Commonwealth: the term does not include a public officer of the Commonwealth or of a State who is absent in the performance of his duty; "Agent" includes a company and every person Agent. who in Australia, for or on behalf of any person out of Australia (in this section called "the principal "), holds or has the control, receipt or disposal of any money belonging to the principal; also every person declared by the Commissioner to be an agent or the sole agent for any person for the purposes of this Act; "Assessable income"-Gross income after ex- Assessable cluding all income which is exempt from income. income tax; "Assessment"-A calculation by the Commis- Assessment. sioner of the amount of any taxable income as well as the amount of tax imposed thereon respectively: the term includes any amended assessment and also all matters comprised in any return required by or under this Act;

10948 PART 1.- PIIELIMINARY. s.4. INCOME rfAX. Income Tax Act. 15 GEO. V. No. 34> Business. Company. Commis- sioner. Foreign company. Incom9; Income from personal exertion. "Business"-Every profession, vocation, trade,. business, calling, and occupation; " Company" includes every body corporate how- soever incorporated and whether under the laws of Queensland or elsewhere and wherever its head or principal office or principal place of business may be: the term also includes. any body or association of persons (except a bona fide partnership) which is not a body corporate but to which the Commissioner declares the provisions of this Act relating to a company (whether a Queensland company or a foreign company as may be declared) are applicable. "Commissioner"-The Commissioner of Taxes. appointed under this Act; "Foreign company"-A company the head. or principal office or the principal place of business of which is out of Queensland; "Income" includes all profits and gains; "Income from personal exertion"-Income earned in or derived in or from sources in Queensland consisting of earnings, salary, wages, com- mission or consideration in the nature of or in lieu of commission, fees, bonuses, pensions,. superannuation allowances retiring allow- ances and gratuities not paid in a lump sum, allowances received in the capa,city of em- ployee, and stipends, and all income arising or accruing from any business carried on by the taxpayer either alone or as a partner with any other person (other than a business carried on with the assets of or as part of or in connection with a trust estate, save as provided in the proviso of subeection three of section eleven of this Act), and any income from any property where the income forms part of the emoluments of any office or employment of profit held by the individual: the term does not include interest on money unless the taxpayer's principal business con- sists of the lending of money, and does not

1924. INCOME TAX. Income. l'a:c Act. s.4. 10949 PART 1.- PRELIMINARY. include rents; the assessable income includes income of the taxpayer although the same has not arisen or accrued or been earned, derived, or received bv or from his own personal exertion; v Without limiting the generality of the foregoing provision, the assessable income expressly includes all income referred to in section ten of this Act; "Income from the produce of property"-All Income i Q nuceoemnes 1 and d eriavne d d wi 1 n H · C h orI . S fnroomt I . nscooumrcees f roimn fpprrrooompdeutrchteye. 0 f personal exertion: the assessable income includes income of the taxpayer, although the same has not been derived from his own· property: Without limiting the generality of the foregoing provision, the assessable income expressly includes all income referred to in section eleven of this Act; " Income tax"-The tax on income from personal Income tax. exertion and the tax on income from the produce of property recoverable under this Act: the term includes any super tax, additional tax, or additional amount charge percentage penalty or interest in respect of income tax (and where necessary, any judgment debt and costs in respect of income tax) to be assessed, collected, enforced, or recovered under or pursuant to this Act and any instalment or portion of income tax; "Income year"-The year or period in which Income any income if, earned or derived; year. "Life assurance company"-A life assurance Life company within the meaning of *" The Life assurance Assurance Companies Act of 1901": the company. term" mutual life assurance company" means a life assurance company which is not a proprietary company within the meaning of that Act; * 1 Edw. VII. No. 20, supra, page 282.

10950 PART J- PRELIMINARY. s.4. INCO:'lIE TAX. Income Tax Act. 15 GEO. V. No. 34, Monopoly company. Net income. Partnership. Person. Policy of life assurance. Prescribed. Public Authority. Public utility. "Monopoly company"-Any company declared by resolution of the Legislative Assembly to be a company in possession or partial possession of a monopoly within Queensland for the production, distribution, transport, or exchange of goods or commodities to the detriment of the public interests, or to be associated with any trust or combine for the purpose of securing a monopoly or partial monopoly in Queensland of the production, distribution, transport, or exchange of goods or commodities to the detriment of the public interests; " Net income"-Save as by this Act is other- wise expressly provided, assessable income less all deductions and exemptions allowable under this Act with the exception of the statutory exemption; " Partnership"-An association of persons carry- ing on business as partners or in receipt of income jointly: the term does not .include a company; " Person" includes a company; "Policy of life assurance"-Any instrument by which the payment of moneys, by or out of the funds of a life assurance company, on the happening of any contingency depending on the duration of human life, whether by way of life assurance, endowment, annuity, or otherwise, is assured or secured; "Prescribed"-Prescribed by this Act; " Public Authority"-Any Public Authority, cor- porate, or unincorporate: the term includes a Local Authority or Joint Local Authority constituted under the laws in force for the time being relating to the constitution of Local Authorities, and any local body re- ceiving revenue of any kind for the purposes of local self-government; "Public utility" includes street tramway ser- vices, the manufacture or supply of coal gas for any purpose, and the production or

1924. INCOME TAX. Income. Tax Act. s.4. 10f}:l1 PAltT 1.- PRELIMINARY. supply of electricity for light, heat, or power; the term also includes any undertaking declared by resolution of the Legislative Assembly to be a public utility; " Public utility company"-Any company carry- P~ ~ lic ing on in Queensland the business of a public ~ ~ ~ ~ ny. utility; "Queensland company"-A company the head Queensland or principal office or the principal place of company. business of which is in Queensland; the term includes a company registered under *" The Companies Acts, 1863 to 1913," wher- ever its head or principal office or principal place of business may be, unless the Com- missioner in his discretion decides that a company so registered and having its head or principal office or principal place of busi- ness out of Queensland is a foreign company for the purposes of this Act; "Regulations"-Regulations made under the R 3gulations. authority of this Act; " Stock-in-trade"-Anything produced, manufac- Stock-in. t ured, acqUI.red, or purchased for purposes trade. of manufacture, sale or exchange; "Taxable income"-Income on which income tax Taxable is chargeable after allowing for all deductions incomo. and exemptions allowable under this Act; " Taxpayer"-Every person liable to pay income Taxpayer. tax, whether on his own behalf or in a representative capacity: in reference to any return with regard to a taxpayer's own income, the term includes every person required by this Act to furnish such return ; " This Act"-This Act and the regulations; Thi~ Ae1i; " Trustee," in addition to every person appointed Trustee. or constituted trustee by act of parties, or by order or declaration of a court, or by operation of law, includes- (a) An executor or administrator, guardian, committee, receiver or liquidator; and * 27 Vic. No. 4 and amending Acts, supra, pages 186 et seq. and 5829.

10952 PART 1.- PRELIMINARY. ss. 5, 6. INCOME TAX. Income Tax Act. 15 GEO. V. No. 34, (b) Every person having or taking upon himself the administration or control of income affected by any express or implied trust, or acting in any fiduciary capacity, or having the possession control or management of the income of a person under any legal or other disability; Year. " Year"-The period of time commencing on the first day of July in a year and ending on the thirtieth day of June in the succeeding year. PART 1I.- ADMINISTRA· TION. PART n.-ADMINISTRATION. Commis- 5. (1.) For the due administration of this Act the soitohneerr and Governor in Council may from time to time appoint a -officers. fit and proper person, to be called the Commissioner of Taxes, and a like person to be Assistant Commissioner of Taxes. Deputy. (2.) Whenever by reason of the absence or illness of the Commissioner or Assistant Commissioner or for other sufficient reason it is expedient so to do, the Governor in Council may appoint a fit and proper person to act as the Deputy of the Commissioner or Assistant Commis- sioner; and during the term of his office such Deputy shall have all the powers and authorities and shall perform all the duties of the Commissioner or Assistant Commis- sioner, and shall for the purposes of this Act be deemed in all respects to be the Commissioner or Assistant Commissioner. Officers. (3.) The Governor in Council may from time to time appoint such assessors, receivers, and other officers as may be necessary for carrying out the provisions of this Act. Delegation (4.) The Commissioner may, by writing under h!s sbiyonCeor. mmis- hand, delegate to the Assistant Commissioner or any other person any powers, duties, and functions by this Act conferred or imposed upon him (except this power of delegation. ) Every delegation under this section shall be revocable at will, but any delegation shall not prevent the exercise of any power or function by the Commissioner. Secrecytobe 6. (1.) Every person appointed or employed under maintained. this Act shall preserve and aid in preserving secrecy with regawl t.o all matters that may come to his knowledge in

1924. INCOME TAX. Income. Tax Act. s. 6. 10953 PART 11.- ADMINISTRA- TION. his official capacity, and shall not communicate any such matter to any other person except in the performance of his duties under this Act, or except to the Auditor- General or some officer of his department for the purposes of audit under the laws in force relating to the audit of public accounts, or except to the Board appointed under this Act for the registration of tax agents. And to this extent the Auditor-General and .any such officer and the members of the said Board shall be deemed to be persons appointed or employed under this Act. (2.) The Commissioner and Assistant Commissioner Oath of and every Deputy Commissioner shall, before acting in fidelity and the execution of his .office, take and subscribe, before secrecy. a justice, the prescribed oath of fidelity and secrecy. Such oath shall also be taken and subscribed by every other person appointed or employed under this Act before so acting, and such oath may be administered to him by the Commissioner or Assistant Commissioner or any justice. Every person who, in contravention of the true intent of such oath, and without lawful excuse, reveals any matter or thing which has come to his knowledge in his official capacity, shall be liable to a penalty not exceeding one hundred pounds, or to be imprisoned for any period not exceeding six months, with or without hard labour. If any person acts in the execution of his office before he has taken the prescribed oath, he shall be liable to a penalty not exceeding one hundred pounds. (3.) An officer shall not be required to produce in Privilege oanr ytocodu l · V rt U algney orertucornm, ' masusmescsamteentto, oarnnyotcicoeurotf aasnsyesmsmaettnetr, adSoctoumen ts . or thing coming under his notice in the performance of his duties under this Act or the repealed Acts except as may be necessary for the purpose of carrying into effect the provisions of this Act or the repealed Acts. (4. ) Notwithstanding anything contained in this Communica.. section, the Commissioner may communicate any mattert~ ons in a.id which comes to his knowledge in the performance of his 0 revenue. official duties- .(a) To any other Commissioner of· Income Tax in Australia; or . (b) To the officer or authority administering any Act of a State relating to Stamp Duties or Succession Duties; or

109Pi4 PART IJ- ADMINISTRA- TION. ss. 7, 8. INCO~ IE TAX. Income Tax Act. 15 GEO. V. No. 34, (c) To the Commissioner of Pensions or the Repatriation Commission for the purpose of the administration of any law of the Common- wealth relating to pensions; or (d) To the State Insurance Commissioner; who is authorised by law to afford like information to tho Commissioner. PART III.- LIABILITY TO TAXATION. PART III.-LIABILITY TO TAXATION. Income tax. 7. Subject to this Act, there shall be charged, levied, collected, and ·paid for the use of His Majesty in aid of the Conflolidated Revenue for each year an income tax upon the taxable income earned in or derived directly or indirectly by every taxpayer in or from sources in Queensland during the period of twelve months ending on the thirtieth day of June preceding the year for which the tax is payable, at the rates hereinafter specified. The first levy of income tax under this Act shall be for the year commencing on the first day of July, one thousand nine hundred and twenty-four, and each subsequent levy shall be for each succeeding year. Exemption of certain incomes. 8. The following incomes, revenues, and funds shaH be exempt from income tax:- (1) The income of the Governor of Queensland so far as respects the emoluments of his office as Governor; (2) The revenues of Public Authorities; (3) The income of any society or association not carried on for the purposes of profit or gain to the individual members thereof, established for the purpose of promoting the development of the agricultural, pastoral, horticultural, viticultural, stock-raising, manufacturing, or industrial resources of Australia; (4) The income of any society or association not carried on for the purposes of profit or gain to the individual members thereof established for 'musical purposes, or for the encouragement of music, art, science, or literature; (5) The income of a society registered under any Act relating to Friendly Societies (other than

1924. INCO:;\1:E TAX. Income. Tax Act. s.8. 10955 PART HI.- LIABILITY TO TAXATION. Building Societies), and not carried on for the purposes of profit or gain to the individual members thereof ; (6) The income of a trade union or of an associa- tion of employers or employees registered under any Act relating to the settlement of industrial disputes; (7) The incomes and revenues of religious, scientific, public charitable, and public educational institutions; (8) Income derived as dividends from any com- pany which has paid in Queensland income tax on the profits of the company from which such dividends are paid; the income derived as mentioned in this subsection, less the expenses of earning or deriving such income, is in this Act referred to as "income from dividends" ; (9) Income arising or accruing from debentures, stock, bonds, certificates, or Treasury bills issued by the Government of Queensland or of the C~ mmonwealth of Australia: Provided that this exemption shall not extend to income so arising or accruing as interest on any State loan or Commonwealth loan in cases where by this Act or any enactment of the Parliament of the Common- wealth in force interest on any such loan is made chargeable with the payment of income tax; (10) Income derived as interest from deposits in the Savings Bank Department of the Commonwealth Bank of Australia; (11) War pensions and war gratuities granted by the Government of the Commonwealth under the * Australian Soldiers' Repatriation Act, 1920-21 ; (12) The income of a provident, benefit, or super- annuation fund established for the benefit of the employees in any business or class of business and the income of a fund established * No. 6 of 1920, 18 Commonwealth Statutes, page 14; and No. 34 of 1921,19 Commonwealth Statutes, page 174. E

10956 ' PART 111.- LIABILITY TO TAXATION. s.9. INCOMFj TAX. Income Tax Act. 15 GEO. V. No. 34" by any will or instrument of trust for public charitable purposes if in each case the Commissioner is satisfied that the particular fund is being applied to the purposes for which it was established; (13) The profits of any company carrying on busi- ness of a co-operative nature whose articles of association provide that profits shall not be distributed amongst the shareholders as dividends and which company is declared to be exempt from income tax by the Governor in Council. The foregoing exemptions shall not extend to the salaries, wages, allowances, or pensions of persons employed by any such corporation, company, authority, union, society, or institution, although the same may be pai~ wholly or in part out of the income, revenues, or funds so exempt. Co·operative 9. (1.) In any case where, for the purpose of ~ c~ panies, ensuring regularity of price or for the purpose of distribu- tion amongst its producing shareholders, a co-operative company dealing with butter cheese bacon fruit or wheat or any other primary products used for food purposes, distributes, within nine months. after the close of any income year for which such company makes a return of income, any profits made during that year, such company shall not be liable to pay income tax on the amount of such profits so distributed for such purpose. Primary , (2.) In any case where a Primary Producers' Co- 6~ ~ ~ ; : : : : iva operati~ e Assoc~ation or Primary Produc~rs' Co-operative Associations. FederatIOn, regIstered under *" The Pnmary Producers' Co-operative Associations Act of 1923," distributes or transfers to a reserve fund, within nine months after the close of any income year for which such registered Association or Federation makes a return of income, any profits made during that year, such registered Association or Federation shall not be liable to pay income tax on the amount of such profits so distributed or transferred: No personal (3.) Provided that nothing contained in this section exemption. or any other section of this Act shall exempt any * 14 Geo. V. No. 45, supra, page 10776.

1924. INCOME TAX. Income. Tax Act. s.10. 10957 PART III.- LIABILITY TO TAXATION. shareholder or member from the liability to tax on any amounts received by him in cash or in shares by way of distribution of profits. 10. Without limiting the force or effect of any other Specific provision of this Act, assessable income shall expressly fl~~~ :e~ f mclude, as income from personal exertion- from (1.) All net gains or profits arising from the sale of ~ ~ ~ ~ ~ ~ : any real property- liable to tax. (a) In connection with any business carried on by the taxpayer; or (b) In all other cases where such real property was purchased or acquired by the taxpayer during the year in which the sale took place or the six years prior thereto; arrived at by deducting from the amount realised by the sale, the expenses of sale. and the cost to the vendor (less any amount in respect of depreciation which the Commissioner considers just) of the property: Provided that- (i.) If any standing crop is sold with a property, such profit as in the opinion of the Com- missioner has been derived from the sale of such crop shall be taxable irrespective of the number of years during which the property was owned by the vendor; . (ii.) If a sale is subsequently cancelled, an allow- ance may be made to the taxpayer in the assessment with respect to the income year in which the cancellation takes place, or a refund may be made of any tax overcharged in connection with the profit made or supposed to be made; (iii.) The cost to the vendor of property sold (other than a standing crop) which has been acquired by the vendor as a beneficiary or as a trustee in the estate of a deceased person, shall be deemed to be the cost price of such property to such deceased person, and the date on which such property was purchased or acquired by such deceased person shall be taken for the purposes of this subsection one to be the date on which such beneficiary or trustee acquired such property.

10958 PART M.- LIABILITY TO TAXATION. S. 10. INCOME TAX. Income Tax Act. 15 GEO. V. No. 34, (2.) All net gains or profits arising from the sale of any personal property whatsoever (except where other- wise provided in the next succeeding section of this Act) whether or not arising from any business carried on by the taxpayer: Provided that unless the taxpayer purchased or acquired such property (other than stock-in-trade, including in this term live stock) during the year in which the sale tbok place or the six years prior thereto, any profit made shall not be liable to income tax. For the purposes of this subsection two the following provisions shall have effect :— (i.) When a shareholder has purchased or acquired shares in a company and subsequently receives liquidation dividends in excess of the purchase price of such shares, such excess shall be treated as income arising from a sale of the shares. (ii.) When a person receives by way of payment for goods supplied or services rendered, certificates issued by or shares in a company, the value of such certificates or shares on the date on which they were so received by such person shall be treated as income of such person but not arising from a sale; if, however, all or any of these certificates or shares are subsequently sold by him or are redeemed or paid for by the company, any excess of moneys received by such person on such sale, redemption, or payment, over and above the value of the same on the date aforesaid, shall be treated as income of such person arising from a sale during the income year in which such excess was received. - If a person purchases any such certificates or shares before such redemption thereof or payment therefor by the company, the net excess (if any) of such redemption money or payment received by him over and above the purchase price paid by him for such certificates or shares shall be treated as income of such person during the income year in which such redemption money or payment was received by him. (iii.) On the sale of any business, the net gains or profits shall be arrived at by deducting from the amount realised by the sale the expenses of sale and the cost of any stock-in-trade (including in this term, live stock) 1924 com resp jus in t wh in a of the pu wh ass to oth or am ex ing de pa pu gr th

1924. INCOME TAX. Income, Tax Act. s. 10. 10959 PART III.- LIABILITY TO TAXATION. comprised in the sale, and the cost (less any amount in respect of depreciation which the Commissioner considers just) of any furniture, fittings, and other items comprised in the sale. If the sale is of a business to a company and the whole or part of the purchase money is paid for by shares in a company, the Commissioner shall assess the value of such shares, and the value thereof shall be taken as the consideration paid to' the vendor for so much of the purchase money as is represented by the shares, and when the vendor sells any of such shares the value so assessed shall be taken as the cost price of such shares to the vendor. (iv.) On the sale of any share or interest in a business other than that carried on by a company, the net gains or profits shall be arrived at by deducting from the amount realised by the sale- (a) The amount (if any) actually paid by the vendor for such share or interest; and (b) The amount of any profit in the business attributable to such share or interest not drawn by him at the date of the sale or subsequent thereto, less any part of such profits which are taxable and on which income tax has not been paid. (v.) On the sale of the goodwill of any business, except as provided in subsection two of the next succeed- ing section, the net gains or profits shall be arrived at by deducting from the amount realised by the sale any sum paid by the taxpayer to the previous vendor for the purchase of the goodwill. (vi.) In connection with live stock owned by a grazier or farmer or other person dealing in live stock the following provisions shall be applicable :- (a) If a business (whether carried on by an individual person or by a partnership or by a company) is sold and the whole or part of the stock-in-trade of the business consists of live stock, the full and actual market value in money of such live stock shall be expressly stated in the contract relating to such sale. whether such sale is for a lump sum or not.

10960 PART IIl.- LIABILITY TO TAXATION. s. 10. IXCO:\1E TAX. Income Tax Act. 15 GEO. V. No. 34, If such value is not so stated or not in the opinion of the Commissioner truly 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 purposes 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 the live stock upon such sale. Moreover, such sum shall be deemed to be income of the vendor. Provided that- In calculating the assessable income of the vendor there shall be allowed as a deduc- tion- The value of such of the stock sold as was on hand at the close of the last pre- ceding year at the price shown in the income tax return for that year, and The purchase price of such of the live stock sold as were purchased since that date. But if the vendor has taken advantage of the provisions of section twenty-two of the repealed Acts, in calculating his assessable income there shall be allowed, according to the circumstances hereinafter mentioned, the deductions therein specified, viz. :- If he has owned the business sold, continuously since the thirtieth day of December, one thousand nine hundred and six, there shall be deducted the value of live stock owned by him in connection with such business at the end of the year one thousand nine hundred and six, as shown in his return to the Commissioner for that year (less any portion of such value which has been already allowed to him) together with the purchase price of such of the live stock sold as were purchased during the income year when the sale took place; or

1924. INOOME TAX. Income. Tax Act. s.10. 10961 PART IIl.- LIABILITY TO TAXATION. If he has purchased the business since the thirty-first day of December, one thousand nine hundred and six, there shall be deducted the value of live stock at the time of such purchase as expressed in the contract of sale or assessed by the Commissioner (less any portion of such value which has been already allowed to the taxpayer), together with the purchase price of such of the live stock sold as were purchased during the income year when the sale took place. (b) If the sale is not of a business as afores·aid but of a share or interest in a partnership which carries on such a business, then the provisions of paragraph (vi.) (a) hereof shall be appli- cable with the modification that the value of the purchaser's interest in the live stock comprised in the purchase by him of such share or interest shall be deemed to bear the same proportion to the total value allocated to the live stock owned by the partnership as the share or interest so purchased by him bears to the total shares or interests of the partnership. (vii.) The cost to the vendor of property sold (other than stock-in-trade or live stock) which has been acquired by the vendor as a beneficiary or as a trustee in the estate of a deceased person, shall be deemed to be the cost price of such property to such deceased person, and the date on which such property was purchased or acquired by such deceased person shall be taken for the purposes of this subsection two to be the date on which such beneficiary or trustee acquired such property. (3.) All net gains or profits arising from the sale outside Queensland of goods or articles manufactured in Queensland or produced in Queensland, or of live stock exported or sent from Queensland for sale outside Queensland. (4.) Five per centum of the capital amount of a retiring allowance or gratuity paid in a lump sum.

10962 PART III.- UABILITY TO TAXATION. s.10. INCOME TAX. Income Ta.x .Act. 15 GEO. V. No. 34, (5.) The estimated annual value of any quarters or board and residence, and every amount received or receivable by way of extra salary, bonus, or emolument, and every allowance, benefit, or advantage of any kind, whether in money or otherwise or any modification or combination of any such benefit or advantage granted, secured, or allowed to any employee. (6.) The profits arising from any business which have been converted into stock-in-trade or added to the capital of or carried to reserve or in any way invested in such business; and in calculating such profits the value of all live stock, produce, goods, and merchandise not disposed of at the beginning and end of the income year shall be taken into account: Provided that- (i.) "Value," in the case of trading stock (not being live stock), means the actual cost price or market selling value of each article of trading stock, or the price at which each article of trading stock can be replaced, at the option of the taxpayer in respect of each article; (ii.) "Value," in the case of live stock, means such value or values as may be determined from time to time by the Commissioner; (iii.) The Commissioner may exempt persons who do not own more than one hundred and fifty head of live stock from returning such live stock as on hanu at the beginning and end of an income year, but such persons shall return as income the proceeds of any sales of live stock made by them. (7.) The increase in value arising from the writing- up of any of the assets of any person carrying on a business. (8.) All net gains or profits arising from the redemption of any liabilities, but not including the redemption of liabilities in connection with insolvent or assigned estates or the compulsory or voluntary liquidation of companies. (9.) All net gains or profits arising from the forfeiture of shares in a company.

1924. INCOME TAX. Income. Tax Act. s. 11. 10963 PART 111.- LIABILITY 'I 0 TAXA'fION. 11. Without limiting the force' or effect of any other ~ Fa~ ::cOf provision of this Act, assessable income shall expressly income from m. c1ude, as m. come f rom the produce 0 f proper t y- othf eprporpoderutcye liable to tax. (1.) Money derived by way of royalty or bonuses, and premiums fines or foregifts, or consideration in the nature of premiums fines or foregifts demanded and received in connection with leasehold estates, and the amount of any payment or value of any consideration received by a lessee upon the cancellation or surrender of a lease, or upon the assignment or transfer of a lease to another person, after deducting therefrom- (a) The part (if any) of such money or value which in the opinion of the Commissioner is properly attributable to the transfer of any tangible assets but without deducting any part which is attributable to any powers reserved by or implied in the lease whether such lease is written or oral; and (b) So much of any consideration paid or given by the lessee for the lease or for any assignment or transfer to him of the lease as is properly attributable to the period of the lease unexpired at the time of the assignPlent· or transfer by the lessee, but not exceeding the amount of such consideration received by him; (c) In the case where a lease is granted by the owner of the freehold of an hotel property, so much of any consideration paid or given by him for the cancellation of a lease of such property or for the purchase of thegoodwiU of such property to which he was still entitled under paragraphs (0) and (p) of subsection one of section nineteen of this Act at the date when he granted the lease: Provided that- (i.) If the consideration aforesaid is received by instalments, tax shall be charged on the amount or value received in the income year after allowing for a proportionate share of any deductions as last aforesaid;

10964 PART III.- LIABILITY TO TAXATION. s. 12. INCOME TAX. Income Tax Act. 15 GEO. V. No. 34, (ii.) If the consideration aforesaid is received by a beneficiary or trustee in the estate of a deceased person, such beneficiary or trustee shall be entitled to all allowances to which such deceased person would under this sub- section have been entitled if he had been alive: (iii.) This subsection shall not apply to the proceeds of the sale, transfer, or assignment of the lease of a mining property (other than coal mining) where the Commissioner is satisfied that the lease has been sold, assigned, or transferred by a bona fide prospector. (2.) The amount or value of any consideration received for the sale of the goodwill of an hotel property after deducting therefrom any allowance to which the vendor was still entitled under paragraph (p) of sub- section one of section nineteen of this Act at the date of such sale. (3.) Income received by a beneficiary from any trust estate: Provided that if a business is carried on by beneficiaries or trustees who are beneficially entitled to any part of the income derived from such business the Commissioner shall treat such part of the income as income from personal exertion. (4.) All moneys received by any person as or by way of royalty. (5.) Amounts expended by a tenant under agree- ment with the landlord in effecting improvements which add to the value of the property owned by the landlord and for which the tenant is not reimbursed by the land- lord: the amounts so expended shall be considered as income of the landlord in the income year or respective income years (if more than one) in which such improve- ments are effected. Certain. 12. For the purpose of any of the provisions of & tra 0 n ., sa w c h t < IO ln ns, sections ten and eleven of this Act- : ~ ~ d (a) Transfers of any property, including live stock, ascertain- by any person to any other person by way ment, of selling price. of gift or for a nominal or manifestly inadequate consideration;

INCOME 'l'AX. s. 13. 10965 1924. Income. Tax Act. --------- - - - - - - PART 111,- LIABILITY TO ' TAXATION. (b) The transfer to 'any beneficiary under any will or in the distribution of an intestate estate or the taking over by a trustee on the death of a taxpayer of any live stock and produce owned by a taxpayer, who up to the date of his death has taken advantage of the pro- visions of section twenty-two of the repealed Acts; (c) The distribution in specie of the whole or any of the assets of a business among partners or shareholders of a company; (d) The vesting of any property in any con- structing authority by a proclamation or other instrument pursuant to any Act in respect of which property compensation is received by the late owner; shall be considered to be sales, and the selling price in the case of all such property other than live stock in cases to which paragraph (a) or paragraph (c) hereof refers shall be the market price of the property transferred, taken over, or distributed as at the date of transfer, death, or distribution, and in cases to which paragraph (d) hereof refers shall be the total amount or value of such compensation as aforesaid, and in the case of live stock to which paragraph (b) hereof refers shall be the price per head at which the late owner returned the same class of live stock in the last income tax return in which he returned his live stock on hand at the close of the income year in respect of which such return was made, or if purchased during the income year for which the return is made at the actual purchase price, to which in each case shall be added, for the purpose of arriving at the purchasing price to any beneficiary or trustee as aforesaid, the amount of any probate duty, succession duty, or estate duty paid in respect of such live stock. 13. (l.) Where any person (herein called "the ~ : : e~ ; . t ~ ; r vendor") under or pursuant to any contract agreement periodical or arrangement, ~ hether oral or in writing, a~ d wheth~ r ~ ~ ! : ~ ~ ~ ~ ts made or entered mto before or after the passmg of thIs really in Act, sells, transfers, conveys, assigns, or disposes of any f: : = e~ f property on terms and conditions which include the payment to the vendor for such property or any part thereof or for the sale, transfer, conveyance, assignment,

10966 s.14. INCOl\IB TAX. PART IlI.- LIABILITY TO TAXATION. Income Ta.T Act. 15 GEO. V. ~ o. 34, --- ~ - - ~ -~ ~ -- - -- ~ ~ - - ~ - - - -- - ~~ - -~ - ~ or disposal thereof or of any part thereof by means of periodical payments which wholly or in part are in the opinion of the Commissioner really in the nature of income of the vendor in the income year in which they are received, the vendor shall be assessed to pay income tax upon those periodical payments or parts thereof, as the case maybe. (2.) Nothing in this section contained shaH be construed so as to limit the effect in any way of any of the provisions of sections ten, eleven and twelve of this Act; and it shall be jn the absolute discretion of the Commissioner whether in any particular case he will apply the provisions of this section. (3.) The provisions of this section may at any time be made applicable by the Commissioner in his absolute discretion to any particular case, notwithstanding that the property or allY part thereof which is the subject matter of the transaction has or has not been held by the vendor during any time, and notwithstandjng that the vendor has not been assessed to pay income tax upon any such periodical payment or payments or part ?r parts thereof received in any previous income year or lncome years. (4.) In this section" property" means and includes any property, real or personal, whatsoever and any goodwill of or in connection with any business or venture carried on upon or in connection with any property. Assessmont 14. 'Without limiting the force or effect of any c o o f mpanies. other provision of this Act, the following provisions shall apply in the assessment of companies:- (1.) The taxable income of every Queensland company may be assessed for any income year at not less than the amount of the dividends declared by the company out of profits made during that year. (2.) When any Queensland company issues any of its shares at a premium, all sums of money received by the company in respect of such premiums-that is to say, all sums so received in excess of the nominal value of all such shares allotted and issued by the company- shall, for the purposes of this Act, be profits of the company.

1924. INCOlVIE TAX. Income. 'Pax Act. s. 14. 10967 PART III.- LIABILITY TO TAXATION. (3.) In calculating the taxable income of companies which carry on in Queensland the business of mining, the following rules shall be applied :- (i.) The profits made by the company shall be taken to be applied, in the first place, in repayment of the cost actually incurred by the company in respect of labour or material employed in developing the mine, and, in the second place, in repayment of three-fourths of the cost of any machinery erected for ra~ sing ores and other materials from the mIne; (ii.) So much of the profits as is shown to the satisfaction of the Commissioner to have been applied during the income year for the purposes specified in rule (i.) hereof shall be deducted from the income of the company for that year, and shall be exempt from income tax; (iii.) If the company carries on other business besides the business of mining, the Commissioner may require the company to submit to him accounts verified in like manner as the returns hereby prescribed, and showing separately the transactions of the company with respect to its mines and with respect to its other business, and the company shall be entitled to exemption from income tax upon so much of its profits as is shown to the satisfaction of the Commissioner to have been applied during the income year for the purposes specified in rule (i.) hereof ; (iv.) When a mining company js reconstructed and it is shown to the satisfaction of the Commis- sioner that after reconstruction the company is to all intents and purposes the same as before reconstruction, such reconstructed company shall be entitled to the same exemp- tion from income tax as the company was entitled to before reconstruction; (v.) The decision of the Commissioner in every case arising under this subsection shall be final and conclusive.

10968 PART IlI.- LIABILITY TO TAXATION. s.14. INCO~IE TAX. _0 _ _ _ _ _ _ _ _ 00 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 0 _ _ _ _ __ Income Tax Act. 15 GEO. V. No. 34, Asoosgment (4.) The taxable income of foreign companies shall ~ ~ r~ ~~ ~ me of be assessed as follows : - companies. Banking companies. (i.) If the company carries on in Queensland the business of banking and no other business . whatsoever, its taxable income shall be a sum which bears the same proportion to the total profits of the company as the amount of its assets and liabmties in Queensland bears to its total assets and liabilities, not including liabilities to capital or reserves; Insurance companies. (ii.) If the company carries on in Queensland fire, accident, fidelity, guarantee, or marine insurance business, its taxable income shall be the amount of the profits made by the company in Queensland plus any expenses or charges which are not allowable deductions under this Act. If such profits cannot in the opinion of the Commissioner be satisfac- torily determined, its taxable income shall be a sum equal to twenty-five pounds per centum of the premiums on account of Queensland business received by the company (after deducting any portion of such premiums actually paid away by way of reinsurance effected in Queensland with any other company) together with any profit made on the sale of any assets held in Queensland or from the writing up of the value of any assets in Queensland. Life assurance companies. (iii.) If the company is a life assurance company and carries on in Queensland life assurance business, its taxable income shall be a sum equal to twenty-five pounds per centum of the premiums on account of ordinary Queens- land business received by the company and fifteen pounds per centum of the premiums on account of industrial Queensland business received by the company, together with any profits derived from the sale of any assets in Queensland or from the writing-up of the value of assets in Queensland, from which total sum shall be deducted any amount received as interest from the Queensland Government Loan of 1920 after deducting

1924. INCOME TAX. Income. Tax Act. s.15. 10969 PART 111.- LIABILITY TO TAXATION. therefrom the expenses of earning such interest, and in estimating such expenses such amount as the Commissioner thinks just may be allowed in respect of interest paid by the company on money borrowed and invested in such loan. (iv.) The taxable income of any other foreign company liable to assessment shall be the amount of the profits made by the company in Queensland plus any expenses and charges which are not allowable deductions under this Act. If such profits cannot, in the opinion of the Commissioner, be otherwise satisfactorily determined, the taxable income of the com- pany may be assessed by the Commissioner at a sum which bears the same proportion to the total profits made by the company as the sales made in Queensland bear to the total' sales :wade by the company, or, if there are no sales, in the same proportion as the total revenue derived from Queensland bears to the total revenue derived by the company, but to the amount so arrived at there shall be added payments of any income tax whatsoever with regard to Queensland income and any other expenditure incurred in Queens- land not allowable as a deduction under this Act. If the Commissioner is satisfied that this information cannot be obtained or is not satisfied that the profits returned disclose' the true state of affairs, he may assess the taxable income of the company at a sum equal to seven pounds ten shillings per centum of the total sales made in Queensland, or, if there are no sales, at a sum equal to seven pounds ten shillings per centum of the tota~ revenue derived from Queensland. 15. (1.) When and so often as any dividend is Dividends in declared payable to any shareholders in a Queensland Queensl:md company, such company shall within thirty days from compames. the time when such dividend has been declared forward to the Commissioner a return in the prescribed form

10970 PART III.- LIABILITY TO TAXATION. s.15. INCOME TAX. Income Tax Act. 15 GEO. V. No. 34, and containing the prescribed particulars, under the hand of and made by the public officer of such company, stating the amount of such dividend and showing the date when the same was so declared. (2.) Upon so much of such dividend as consists of a distribution of theretofore undistributed profits the amount already paid as income tax shall be allowed for, and the balance only of the income tax at the rate or respective rates of income tax that would have been payable in respect of the income year or income years in which the undistributed profits were earned shall be paid. (3.) Except in cases where a dividend is declared by the company to be a dividend out of the profits of a specified income year or income years, a dividend shall be taken to have been paid out of the profits for the income year last preceding that in which the dividend was paid; but if the total amount of dividends paid exceeds the total profits for that income year, then the amount by which such total amount of dividends exceeds such total profits shall be taken to have been paid out of the profits accumulated prior to the first day of January, one thousand nine hundred and fifteen, or if there are no such accumulated profits, or such profits when so applied do not exhaust the excess of dividends over profits as aforesaid, then the profits of each income year after the year one thousand nine hundred and fourteen shall be resorted to in rotation. It shall not be lawful for the person charged with the payment of any dividend to distribute the same amongst the persons entitled thereto until any income tax payable in respect thereof has been paid. (4.) (a) When any undistributed profits of a Queensland company standing to the credit of Profit and Loss Account or Reserves are transferred to capital in any way or applied in any way in reduction of assets-then such transfer or application shall be a declaration of dividends and a distribution of dividends within the meaning of this section. (b) When the assets of a Queensland company are increased in value and shares (whether fully or partly paid up) or debentures representing the whole or any part of such increase are issued to its shareholders as such, then the issue of such shares to the amount of the nominal value of such shares (if issued fully paid up)

1924. l:\COl\Li-'J TAX. Income. Tax Act. s.16. 10971 PART III.- LIABILITY TO TAXATION. or of such portion of such value as is deemed to be paid up (if such shares are issued partly paid up) or the issue of such debentures to the amount of the sum stated or alleged to be secured thereby shall be a declaration of dividends and a distribution of dividends within the meaning of this section. (0.) The profits of a company shall be deemed to be distributed if they are paid or credited to shareholders by way of dividend or by the issue to shareholders of debentures or if they are transferred to capital in any way whether with or without the issue of fresh shares, or are applied in any way in reduction of assetB. (6.) For the purposes of this section the term "debentures" includes debentures, bonds, and stock, and any other instrument of value by whatever name called. 16. (l.) When a foreign company or an absentee, Assossment or person absent from Queensland (herein termed" tbe of forei&n principal"), by means of a company registered in Queens- ~~~b:~~=es land or carrying on business therein or by means of any~ ar~ ying ~ m person in Queensland (herein termed" the agent"), earns Q~ ~ : ~ : fa~ nd or derives any income, whether such income is received by agent. by the agent personally or is received or is receivable by the principal directly or otherwise, or if the agent sells or disposes of any property for the principal, whether such property is in Queensland or is by the contract to be brought into Queensland, and whether the contract is made by the agent in Queensland or by or on behalf of the principal out of Queensland, and whether the moneys arising therefrom are paid to or received by the principal directly or otherwise, the moneys arising therefrom shall be deemed to be income accruing to the principal from a business carried on by him in Queensland, and the taxable income earned or derived therefrom by the principal shall, if such income cannot in the opinion of the Commissioner be otherwise satisfactorily determined, be assessed at an amount equal to seven pounds ten shillings per centum upon the amount of such income earned or derived, or as the case may be upon the amount for which such property has beeD sold or disposed of. (2.) The agent shall as regards such income make the returns, be assessed, be liable to income tax, and otherwise be subject to the provisions of this Act, and to do all acts and things thereunder as if such incoim:; were the income of the agent. F

10972 s. 17. INCOME TAX. PART 111.- , - - - - - - - - - - - - - - - - - - - - - - - - LIABILITY TO TAXATION. Income Tax Act. 15 GEO. V. No. 34, The tax shall be assessed as if the income were the income of one person or company, and the agent shall not be allowed the statutory exemption.. But nothing herein contained shall exempt or discharge the principal from liability to make returns or to pay income tax upon such income. Shipownors, 17. (1.) ~ " ' hen a foreign company or person whose &C. principal place of business is out of Australia, either as owner or charterer of any ve!'sel carries passengers, live stock, mails, or goods shipped in Queensland, such company or person shall, by itself or himself or its or his agent or other representative in Queensland, within the prescribed time, or as the Commissioner may require, make a return of the full amount payable to it or to him, whether such amount is payable in Queensland or beyond Queensland, in respect of the carriage of such passengers, live stock, mails, and goods as required or provided by the terms under which the same are carried or agreed to be carried to the port of discharge. Such company, person, agent, or representative shall be assessed thereon, and the taxable income earned or derived therefrom shall, if such income cannot in the opinion of the Commissioner be otherwise satisfac- torily determined, be assessed at an amount equal to seven pounds ten shillings per centum of the amount so payable as aforesaid. (2.) Any agent or representative of such company or person shall as regards such income make the returns, be assessed, be liable to income tax, and otherwise be subj ect to the provisions of this Act, and to do all acts and things thereunder as if such income were the income of the agent or representative. The tax shall be assessed as if the income were the income of one company or person, and the agent or representative shall not be allowed the statutory exemption. But nothing herein contained shall exempt or discharge the principal from liability to make returns or to pay income tax upon such income. (3.) When such company or person has no recognised agent or representative in Queensland other than the master of such vessel, er when such company, person,

1924. INCOl\ 1:B~ TAX. Income, Tax Act. s.18. 10973 PART IlI.- LIABILITY TO TAXATION. agent, or representative fails to make any return, the Commissioner may assess such master, and give notice of the assessment to him, and such master shall be liabl0 to pay the tax, and he shall pay the tax prior to the clearance of the vessel, and the vessel may be detained by the order of the Commissioner until such payment is made. 18. (1.) Every corporation, company, society, asso- Compani~s eiation • , institution, Public Authority, and public trust aAn U dthP O U~ r t ! ) ~ l I e C g body m Queensland (in this section collectively referred liable to pay to as a company) shall pay income tax on- I ~ n atX e raens t ( a ) n I t erest pal· d or credited t 0 any person ptaaiypaabyleers to . out of Queensland; and (b) Interest paid or credited in respect of deben- tures or bonds payable to bearer, the names and addresses of the holders of which are not supplied to the Commissioner by the company, as if the total amount so paid or credited were the income of one individual: Provided that- (i.) A company shall be entitled to deduct and retain from the amount payable to any of the persons referred to in paragraph (a) of this subsection such amount as is necessary to pay the tax which becomes due in respect of that amount and from the interest payable to any person who is a holder of debentures or bonds payable to bearer, an amount which bears the same proportion to the amount paid by it under paragraph (b) of this subsection as the interest payable to that person bears to the total interest payable in respect of those debentures or bonds; (ii.) Where the Commissioner is satisfied that the holder of debentures or bonds payable to bearer is a person who is not liable to furnish a return, the Commissioner may refund to that person the amount of the tax paid by such company in respect of the debentures or bonds of that person:

10974 s. 19. INCOME TAX. PART 111.- - ~ - - - - - - - - - - - - - -- - -- - --­ LIABILITY TO TAXATION. Income Tax Act. 15 GEO. V. No. 34, (iii.) Where a company pays tax under this subsection on any interest, and the member, shareholder, or person includes that interest in his return, the proportionate amount of tax paid by such company in respect of the interest shall be deducted from the total tax payable by the member, share- holder, or person. (2.) A company, notwithstanding any contract, agreement, or arrangement entered into by it, may, with the approval of the Commissioner, charge pro rata the amount of the tax actually paid by it against those persons to whom such interest has been paid or credited. Leduction&. 19. (l.) In calculating the taxable income of a taxpayer, the total assessable income earned in or derived IJY the taxpayer in or from all sources in Queensland shall be taken as a basis. From such total assessable income the following deductions shall be made:- Losses and outgoings. (a) All losses and outgoings (not being in the nature of losses and outgoings of capital) including commission, discount, travelling expenses, interest, and expenses actually incurred in Queensland in earning or deriving the assessable income: Provided that- (i.) If the taxpayer has paid interest during any income year and has earned or derived in that year income which is exempt from income tax, the interest allowable as a deduction from the income of the taxpayer which is not exempt from income tax shall be a sum which bears the same proportion to the total interest paid as the value at the end of the income year of the assets which were used in earning or deriving the income of the taxpayer which is not exempt from income tax bears to such value of his total assets;

1924. INCOME TAX. Income. Tax Act. s. 19. 10975 PART III.- LIABILITY TO TAXATION. (ii.) 'Where a company carries on in Queensland the business of insurance (other than life insurance), and reinsures risks with a person or company carrying on a similar business but not in Queensland, the company carrying on business in Queens- land shall be entitled to deduct so much of the premiums received on those risks as is credited or paid to that person or company and on which tax as provided by section thirty-nine of this Act has been paid. (b) All rates and taxes under any Act of the Rates and Parliament of Queensland except this Act, taxes. and any land tax in respect of land situated in Queensland under any Act of the Parlia- ment of the Commonwealth actually paid by him on his own behalf during the income year, except so much of the land tax so paid by him' as is allowed as a deduction under section twenty-two of this Act: Provided that when a taxpayer receives a refund of the whole or any part of any of the taxes mentioned in this paragraph other than State income tax the amount of the refund shall be brought into account as income in the income year in which the refund is received. (c) In the case of a taxpayer ordinarily resident Children, in Queensland whose net income does not ; ~:i1:: d exceed eight hundred pounds- The amount of fifty pounds in respect of each and every child of such taxpayer under the age of sixteen years on the first day of the year preceding the year for which the tax is payable, and who is wholly maintained by the taxpayer. The amount of forty pounds in respect of the wife of such taxpayer, and in the case of a widower, such other female relative as may reside with him for the purpose of caring for his family jf in either case she is wholly main- tained by him. If she has not an income of her own exceeding twenty-six pounds she shall be deemed to be wholly maintained by him.

10976 s. 19. INCO:aIE TAX. PART III.c:- - - - - - - - - - - - - - - - - - - - - - - LIABILITY TO TAXATION. Income Tax Act. 15 GEO. V. No. 34, Superannua- tion funds, & ~ . The amount of forty pounds in respect of the mother of such taxpayer if she resides with him and is wholly maintained by him. If she has not an income 0: her own exceeding twenty-six pounds she shall be deemed to be wholly maintained by him : Provided that-· (i.) If the net income of a taxpayer ordinarily resident in Queensland exceeds eight hundred pounds, each of the allowances of fifty pounds to which he may be entitled under any of the provisions of this para- graph (C) shall be reduced by one pound for each four pounds by which his net income exceeds eight hundred pounds. (ii) If the net income of a taxpayer ordinarily resident in Queensland exceeds eight hundred pounds, each of the allowances of forty pounds to which he may be entitled under any of the provisions of this paragraph (c) shall be reduced by one pound for each five pounds by which his net income exceeds eight hundred pounds. (iii.) In arriving at the net income of the tax- payer for the purposes of any of the provisions of this paragraph (c), the amount of any deduction which the taxpayer may be entitled to under any of such provisions shall be disregarded; also there shall be taken into account the amount of a taxpayer's income from dividends. (d) Payments not exceeding one hundred pounds in the aggregate made for the personal benefit of the taxpayer or his wife or children during the income year of such tax- payer who is in receipt of salary, wages, allowances, stipends, or annuity, or whose net income (disregarding the amount of any deduction under this paragraph) does not exceed eight hundred pounds, to any super- annuation sustentation or widows or orphans fund established in Australia or any society duly registered under *" The Friendly Societies Act of 1913." * 4 Geo. V. No. 13, s"upra, page 5991.

1924. INCOlHE TAX. Income. Tax Act. s.19. 1D977 PAR'I'I1I.- LIABILI'I'Y '1'0 TAXA'I'ION. (e) Every premium or sum paid by the taxpayer Insurance. during the income year on insurance on his own life or that of his wife or children or for a deferred annuity or other like provision for his wife or children or in respect of any fidelity or gua-r:antee or bond which the tax- payer is requirod to provide in the exercise of his business : Provided that in no case shall any deduction be allowed under this paragraph beyond the sum of fifty pounds in the aggregate, or for any premium or sum paid in respect of any insurance, annuity, or other provision effected outside Australia~ (f) The amount which represents the repayment Annuitants. of capital invested by an annuitant in an annuity in his own favour or the purchase money of any property sold by an annuitant which is being paid for in the shape of an annuity in his own favour. (g) Sums expended by the taxpayer during the Repairs. income year for repairs to or on that part of any property occupied for the purpose of producing income, or· from which income is derived or is deemed to have been derived, and for the repair of machinery, imple- ments, utensils, rolling-stock, and articles used by the taxpayer for the purpose of earning or deriving income. (h) Such sum as the Commissioner thinks just Deprecia· and reasonable as representing the diminu- tion. tion in value per centum to the owner by reason of depreciation by wear and tear, during· the income year, of any building, machinery, implements, utensils, rolling-stock, and articles used by the taxpayer or his tenant for the purpose of earning or deriving income, and also by reason of depreciation by wear and tear of any bore, well, dam, or other improvement for the conservation of water, or of any fence:

10978 PART III.- .LIABILITY TO TAXATION. s. 19. INCOME TAX. Income Tax Act. 15 GEO. V. No. 34, Legal expenses. Provided that- (i.) Where a deduction has been allowed under paragraph (g) of this subsection, the Com- missioner shall take into consideration the sum allowed under that paragraph in determining the sum to be allowed under this paragraph; (ii.) In any case in which any building, machinery, implements, utensils, rolling-stock, im- provements for the conservation of water, and any fences and articles are acquired from one person by another person for valuable consideration of a value in excess of the value to which the cost price of the same had been reduced by the amount of the deduction in respect of depre- ciation allowed by the Commissioner under this paragraph (h), the person acquiring the same shall not be entitled to any greater deduction under this paragraph (h) than that which would have been allowed to the person from whom they were acquired if he had retained them. Where, however, the Commissioner is satisfied that the circumstances are such that a deduction under this paragraph (h) based upon the actual amount of the consideration given should be allowed, the deduction calcu- lated on that basis may be allowed; (iii.) Where in any business income is set apart by the taxpayer to cover depreciation under any of the matters or things mentioned in this paragraph (h) the amount so set apart for the income year may, subject to the approval of the Commissioner, be the sum to be deducted in respect of such depre- ciation. (i) Amounts expended in legal expenses incurred in collecting debts owing to persons in business or for preparation of a lease or in connection with any award relating to the taxpayer's business, or incurred in drawing up agreements for the sale or purchase of goods or service agreements with employees.

1924. INCOME TAX. Income. Tax Act. s. 19. 10979 PART 111.- LIABThITY TO TAXATION. (j) Amounts expended by members of Parliament Expenses of . ibn U ttranvoetlleinxgceteodianngd ffirfotym pthoeuinrdcson I · I s I titauneyncoinese, m a pe r mlla.bmeresnotf. year,and also the actual expenses of their own elections incurred by candidates for election as members of Parliament of the State or of the Commonwealth, but not exceeding seventy-five pounds for anyone election. (k) Such amounts as the Commissioner thinks Services of just and reasonable as representing the value children. of services rendered to a person by his own children over the age of sixteen years who are employed by him and to whom no pay- ments are made for wages. (1) Contributions in money or kind made directly Charities. to any charitable institution in Queensland approved by the Commissioner: Provided that the value of the contribution, if in kind, shall be verified to the satisfaction of the Commissioner. (m) Contributions in money or kind made to the Patri?tic Department of Repatriation or to any Public ~ ~ ~ ~ ~ ~ s. Authority for the purpose of being handed over to the Department of Repatriation: Provided that the value of the contribution, if in kind, shall be verified to the satis- faction of the Commissioner. (n) Contributions in money to any bona fide Union. I.ndustn'a I um . on, t rade or profeS'SlOna1 as- stiuobnssc.rlp- sociation, or agricultural society approved by the Commissioner, but not exceeding ten guineas to each respectively. (0) A proportion of the amount paid by any Premiums taxpayer (being the lessee under a lease or on leases. the assignee or transferee of a lease) as a premium fine or foregift, or consideration in the nature of a premium fine or foregift for a lease, or a renewal of a lease, or of an amount for the assignment or transfer of a lease of land, premises, or machinery used for earning or deriving income, or a proportion

10980 s. 19. INCOME TAX. PART III.- LIABILI'l'Y TO TAXATION. Income Tax Act. 15 GEO. V. No. 34, ~ - - - - ~ - - - - - - ~ ~- ~ ~- - -- - -- - -- - -- ~ -- ~ -- - -- - of the amount paid by a taxpayer for the cancellation of a lease of land, premises or machinery owned by him, arrived at by distributing the sum so paid proportionately over the unexpired period of the lease at the date the amount was so paid: Provided that- (i.) The taxpayer proves to the satisfaction of the Commissioner that· he has paid such an amount; (ii.) If the taxpayer subeequently sells, assignE, transfers, or cancels such lease the allow- ance shall cease; (iii.) The deduction shall not be made with respect to the purchase of a lease granted by the Crown in cases where such purchase was made before the first day of July, one thousand nine hundred and eighteen, nor to the purchase of a Crown lease of land whereof the freehold may be acquired; Goodwill of hotel. (p) The amount paid for the purchase of the goodwill of an hotel property distributed proportionately over a period of five years from the date of purchase : Provided that if the taxpayer subse- q uently grants a lease or sells the goodwill of such property before such period expires the allowance shall cease. Benefits to employees. (q) So much of the assessable income as is set aside or paid by an employer of labour as or to a fund to provide individual personal benefits, pensions, or f('\t.iring allowances for employees: Provided that- {i.) A deduction shall not be allowed under this paragraph (q) unless the Commissioner is satisfied that the fund has been established or the payment has been made in such a manner that the rights of the employees to receive the benefits, pensions, or retiring allow(),nces have been fully secured:

1924. DWO~ IE TAX. Income. Tax Act. s.19. 10981 PART Ill.- LIABILITY TO TAXATION. (ii.) If the Commissioner is satisfied that anv part of the assessable income of any persoil (whether an employer of labour or not) has been so set aside or paid by that person to provide individual personal benefits, pensions, or retiring allowances to employees in any business or class of business, the person setting aside or paying the sum shall be entitled to deduct it. (r) Expenses actually incurred by a taxpayer in Educating educating his children under sixteen years of children. age (not exceeding fifty pounds for each child during the income year) where it is proved to the satisfaction of the Commissioner that suitable educational facilities are not provided by the State within reasonable daily travelling distance of the place of residence of the taxpayer. (8) So much of the assessable income as is paid C~ ll~ in mmt in calls on shares in a mining company or g syndicate carrying on mining operations in ven ures. Queensland for gold, silver, base metals, rare minerals, or oil, or in any company or syndicate carrying on afforestation as its principal business; (t) The sum actually expended by the taxpayer Food, during the income year for food and for rent ~ ~ ~ ri: : ~ s, of quarters provided for an employee (other employees. than a member of the taxpayer's own family under the age of sixteen years) who is employed exclusively in a business of the taxpayer: Provided that, if the taxpayer is unable to state the sum actually expended on such food, such sum may be deducted as the Commissioner thinks just. (u) The annual sum necessary to recoup the Improve· expenditure agreed to be made on improve- ~ :~ e~o~ ~B. ments on land by a lessee who has no tenant rights in the improvements, and on which the landlord is assessable under sub- section five of section eleven of this Act. The deduction under this paragraph shall be ascertained by dividing the amount (not

10982 PART In.- LIABILITY TO TAXATJO!'f. s. 19. I; . . JCO~ IE TAX. Income Tax Act. 15 GEO. V. No. 34, exceeding the sum agreed upon) expended on the improvements by the lessee by the number of years in the unexpired period of the lease at the date the improvements were effected. Expenditure on wire-netting fences to protect land against vermin. (v) In the case of any perso'n who proves to the Commissioner that- He is carrying on agricultural or pastoral pursuits in a district which is subject to the ravages of animal pests; and He has expended money for or entered into a contract or undertaking with the Govern- ment or an authority of the State or of the Commonwealth for the purchase of wire netting for use in the construction of a wire-netting fence to prevent animal pests entering upon the land used by him in the production of assessable income; he shall be entitled to a deduction- (i.) In the assessment of the income derived by him in the year in which he places the wire netting in position on the fence, of such sum as the Commissioner is satisfied has been expended by such person in the purchase of the wire netting so placed and in placing it in position on the fence; or (i1. ) In the case of a person who purchased the wire netting under a contract or under- taking with the Government or an authority of the State or of the Commonwealth, of the amount paid by him in respect of that wire netting in the income year as purchase money or interest thereon and the amount (if any) expended by him in that year in placing the wire netting in position on the· fence. . (2.) For the purposes of the la.st preceding sub- section the following provisions shall apply:- (i.) The aggregate amount of the contributions under paragraphs (l), (m), and (n), to be allowed as a deduction from a taxpayer's

1:924. INCOME TAX. Income, Tax Act. s. 19. 1098:j PART III. ~ LIABILITY TO TAXATION. assessable income shall not exceed twenty per centum of the net income of the taxpayer before allowing any deduction under para- graph (c) of subsection one of this section; (ii.) Where a taxpayer entitled to deductions under paragraphs (c), (d), and (e) has earned or derived income in the State for part only of a year, the deductions to which he shall be entitled shall be sums which bear the same proportion to the total allowances under the said paragraphs in each case as the part of the year during which the tax- payer earned or derived the income in the State bears to the whole year; (iii.) The amounts and sums which by paragraphs (c), (d), and (e) are directed to be deducted shall be deducted from income from personal exertion; but if such income does not amount to the sum so to be deducted, the difference, or if there is no income from personal exertion, then the whole of such sum, shall be deducted from income from the produce of property; (iv.) Except <'vs last hereinbefore provided, in all cases deductions under this section shall be made first from either the income from personal exertion or the income from the produce of property according to the source of the income to which the deductions relate, and, in any case of doubt, from the income from personal exertion; if the source of income first resorted to is not sufficient to cover the deductions, then the balance of such deductions shaH be taken from the other source of income; (v.) All payments of income tax, land tax, and for other purposes which are not allowed as deductions from a taxpayer's income under this Act shall be deemed to have been paid out of the income earned or derived during the income year when the expenditure was incurred.

10984 ss. 20, 21. INCOME TAX. PART 111.- - - - - - - - - - - - - - - - - - - - - - - - - LIABILITY TO TAXATION. Income Tax Act. 15 GEO. V. No. 34, ExemptIon 20. (1.) A person (not being a company or an fr~ m ~ x absentee) whose net income (whether from personal ~ o:: ;:ome exertion or from the produce of property or partly exceed £250. from personal exertion and partly from the produce of property) during the income year does not amount to more than £250 shall not be liable to tax. (2.) With respect to any person (not being a company or an absentee) whose net income (whether from personal exertion or from the produce of property or partly from personal exertion and partly from the produce of property) during the income year amounts to more than £250 but does not amount to more than £1,000, a part, but not exceeding £250, of such income shall be exempt from income tax and shall not be deemed to be part of the taxable income. The amount of such exemption shall be ascertained as follows :-The amount of £250 shall be exempt if the net income does. not amount to more than £252. The amount of £249- shall be exempt if the net income is £253, and the amount of exemption shall be reduced by £1 for each £3 of the net income in excess of £253, so that there shall not be any exemption if the net income is £1,000. In deducting the amo~ nt of such exemption, the income from the produce of property (if any) shall be first resorted to. What is (3.) For the purposes of this section" net income ,~ net income. includes the amount of income from dividends. (4.) In the case of any person entitled to a deduction under this section and who does not ordinarily reside in Queensland, the allowance under this section shall be such part of the sum of £250 or part thereof as the part of the year during which such person earned or deriv€Jd such income in Queensland bears to the whole year. (5.) The exemption and any part thereof provided by this section is in this Act referred to as "the statutory exemption." Deduction 21. (1.) Where a taxpayer makes a loss in any income of lO~ ' les year in carrying on a business or businesses, either alone or from profits. as a partner with other persons, he shall be entitled to deduct the loss from any income earned or derived by him in that income year from other sources. The loss shall be deducted in the first place from the income from dividends (if any) but if the income from dividends does

1924. INCOME TAX. Income. Tax Act. s.21. 10985 PAR'!' III.- I,IABILITY TO TAXA'l'l'ON. not amount to the loss to be deducted, the difference shall be deducted from his income from personal exertion (if any) in the same income year, and if this income does not amount to such difference the balance shall be deducted from his income from property (if any) in the same income year. (2.) If on the sale of a station or farming property, " walk in walk out," a profit is made on the sale of any of the a8sets-live stock, freehold or leasehold, or improvements or plant-and a loss is made on any other of these assets, the loss shall be deducted from the profit. If on a sale of a station or farming property any of the aforesaid assets are sold separately from the rest of the property, but in the same income year, a loss on any of them shall be deducted from a profit on any other of them: Provided that the tax on the income earned or derived from the sale of the property and the stock shall, until paid, be and remain a charge upon the whole of the property included in such sale and upon every part thereof; and if not paid by such vendor may be recovered from the purchaser in the same manner as if it were income of the purchaser, and the Commissioner may register a charge against any land included in the sale for the amount of income tax owing. (3.) Where during any income year sales' of any property not connected with or arising out of any busines8 have been made, and a profit has accrued upon one or more of such sales, and a loss has accrued upon one or more of such sales, the aggregate loss may be set off against the aggregate profit, but if such loss exceeds such profits the balance of such loss shall not be deducted from. any other source of income. (4.) If a taxpayer earning or deriving income from any agricultural or dairying or grazing pursuits carried on by him makes a loss in any income year, after taking into consideration his income for that income year from all other sources (less expenses of earning the same) and any expenditure which was not an allowable deduction under this Act for that income year, tIllS loss may be carried forward into his subsequent yearly returns (but not exceeding five income years) until the loss has been made good. But in the case of a taxpayer

10986 PART nI.- LIABILITY TO TAXATION. SS. 22,23. INCOME TAX. Income Tax Act. 15 GEO. V. No. 34, carrying on grazing pursuits the amount of any such loss which may be carried forward by him shall not exceed £1,000, and for the purposes of this subsection any person whose principal business is buying and selling live stock shall not be deemed to be carrying on grazing pursuits. Deduction of land tax in certain cases. - 22. From the amount of the tax payable on the income of any taxpayer derived from any agricultural, dairying, or grazing pursuits carried on by him, there may be deducted the amount of any land tax actually paid by the taxpayer in respect of the same year under any Act of the Parliament of Queenshmd on land of which he is the owner for an estate of freehold and on which such agricultural, dairying, or grazing pursuits are carried on. For the purposes of this provision, "grazing pursuits" means the grazing of stock on freehold areas the un- improved value whereof does not in the aggregate exceed £1,280, and where both dajrying and grazing pursuits are carried on by -the taxpayer on the same lands and the greater part of his income is derived from such dairying pursuits, he shall be entitled to the deduction aforesaid as if dairying pursuits only were so carried on by him: Provided nevertheless that the maximum amount of land ·tax to be deducted from a taxpayer's income tax for anyone year shall not exceed one hundred pounds. For what 23. Except as otherwise provided in this Act, in =1: ~ ~ o~ o to calculating the taxable income, no sum shall be deducted be allowed. from the assessable income for or on account of the following matters or things :---- Losses not connected with business; capital. (1.) Any loss not connected with or arising out of the production of assessable income or any capital withdrawn from any business, or any sum used or intended to be used as capital in any business, or any capital used in the improvement of premises occupied for the purposes of any business. Bad debts. (2.) Any bad debts, except bad debts proved to be such _to the satisfaction of the Commissioner and to have been incurred in and actually written off by the taxpayer in the income year, but the Commissioner may allow a deduction for bad debts claimed in respect of

11018 ss. 66-71. INCOME TAX. PART VIII.- PR~ ~~ t~NS Income Tax Act. 15 GEO. V. No. 34, AND LEGAL PROOEEDINGS. :0 Penalpiesnot 68. Payment of penalties under this Act shall not rel~ evo relieve any person from liability to assessment and rom ax. payment of any tax for which he would otherwise be liable. Obstructing 67. Any person who obstructs or hinders any officers. officer acting in the discharge of his duty under this Act shall be guilty of an offence, and shall be liable to a penalty of not less than one pound nor more than fifty pounds. Goneral penalty. 68. Any person who in any manner whatsoever fails to comply with any of the provisions of this Act for which no penalty is expressly provided shall be liable to a penalty of not less than one pound nor more than :fifty pounds. Procedure to recover penalties. 69. Save as by this Act is otherwise provided, all penalties imposed under this Act shall be recoverable in a summary way under *"The Justices Acts, Ig86 to 1924" upon the complaint of any person authorised by the Commissioner either generally or for the purpose of any particular case, and when recovered shall be paid into the Consolidated Revenue. In any such proceeding for a penalty, if the court c~ onvicts the defendant it may, in addition to any penalty, order him to pay such costs as it thinks reasonable, including in such costs such expenses as h~ ve been incurred in connection with the issue and service of process and the prosecution of the complaint. Where by this Act a minimum penalty is provided in respect of any offence it shall not be competent for the adjudicating court to mitigate the penalty to be imposed by it to any amount below such minimum. Offences 70. Notwithstanding anything in any Act to the Auncdt emr athyisbe contrary, any complaint for any offence committed or prosecuted penalty incurred under this Act may be brought, heard, yweiathrsi. n six and det,ermined at any time within six years next after the date when the offence was committed or the penalty was incurred. Venue. 71. For the purposes of *" The Ju,stices Act8, 1886 fo 1924" any of the following offences, namely--- (i.) Failing or neglecting to duly furnish any return or information; * 50Vic. No. 17 and amending Acts, sUPra, pages 1132 et Beq. and infra page 11030.

INCOME TAX. ss. 72-75. 11019 1924. Income. Tax Act. PART VIII.- Pio~ ~ tr~ NS AND LEGAL (ii.) Making or delivering or causing or permitting PROCEEDINGS. any person to make or deliver a return which is false in any particular or making any false answer; shall be deemed to have been committed either- (a) At the place where by this Act or according .to the requirement of the Commissioner the return or information was or should have been received or the answer was or should have been made; or (b) At the usual or last known place of business or abode of the defendant; and may be charged in any complaint as having been committed at either of such pla-ces. 72. A witness on behalf of the Commissioner in Prot~ction any prosecution for an offence against this Act shall not to WItnesses. be compelled to disclose the fact that he received any information or the nature thereof or the name of the person who gave such information. 73. (1.) Income tax when it becomes due and Tax a dobt. payable, shall be a debt due to His Majesty and payable to the Commissioner in the manner and at the place prescribed. (2.) Any income tax unpaid may be sued for and recovered in any court of competent jurisdiction by the Commissioner on behalf of His Maj esty by action or proceeding in his official name or in the name of any person appointed by him by a general or particular authority in that behalf. (3.) In any such proceeding, if the court gives judgment against the defendant, it may order that, in addition to any other costs that may be payable, the defendant shall pay such sums as it considers reason- able in respect of expenses which have been incurred by the Commissioner in connection with the institution and prosecution of the proceedings. 74. Nothing in this Act contained shall limit or Pro~ edure prevont the enforcement of any claim for income tax by ~ ~ : ~ d~ ! ~ wn His Majesty in the manner provided by *" The Crown Act. Remedies Ad of 1874," or any Act amending or in substitution for thnt Act. 75. No statute of limitations now or hereafter ill Statute of f orce s h a 11 b ar or a ff ecv .. any ac t' lOn, proc , e d e ' lng, or reme d y nliomtittaotiboanrs. for recovery of income tax. remody. * 38 Vie. No. 13, supra, page 548. I

11020 ss. 76, 77. INCOME TAX. PART VIII.- - - - - - - - - - - - - - - - - - - - - - - PENAL PROVISIONS Income Tax Act. 15 GEO. V. No. 34, AND LEGAL PROCEEDINGS. Substituted 76. If, in any proceedings against a taxpayer for service. the recovery of income tax, the defendant- (a) Is absent from Queensland and has not to the knowledge of the Commissioner after reasonable inquiry in that behalf any attorney or agent 'in Queensland on whom service of process can be effected; or (b) Cannot after reasonable inquiry be found, service of any process in the proceedings may, without leave of the Court, be effected on him by posting the same or a sealed copy thereof in a letter addressed to him at his last known place of business or abode in Australia. Evidence. 77. (1.) The production of the Gazette containing any notice purporting to be published by the Commis- i:;'ioner in pursuance of this Act, or any notice of the appointment of the Commissioner or of any officer or person under this Act, shall be conclusive evidence of such notice, publication, or appointment. (2.) Any notice to be gi ven by the Commissioner may be given by any officer of the Commissioner duly authorised in that behalf; and any notice purporting to be signed by the authority of the Commissioner shall be as valid and effectual for all purposes as if personally signed by the Commissioner. (3.) Any certificate, notice, or other document bearing the written, stamped, or printed signature of the Commissioner shall, until the contrary is proved, be deemed to have been duly signed by the Commissioner. Judicial notice shall be taken of every such signa- ture and of the fact that the person whose signature it purports to be holds or has held the office of Commissioner. (4.) A writing certified by the Commissioner to be a true copy of or a true exi fact from any assessment, return, notice, list, declaration, statement, book, docu- ment, or writing of any nature whatsoever in the custody of the Commissioner or of any officer of the C.ommissioner shall for all purposes be prima facie evidence of the original of which it purports to be a copy or extract and shall be receivable in evidence to the same extent as the original. (5.) The production of any notice of assessment or of any document signed by the Commissiollf~r, purporting

INCOME TAX. S. 77. 11021 1924. Income. Tax Act. to be a copy of a notice of assessment shall- PARTVIII.- PENAL PROVISIONS AND LEGAL PROCEEDINGS. (a) Be conclusive evidence of the due making of the assessment; and (b) Be conclusive evidence that the amount and all the particulars of the assessment are correct; except in proceedings on appeal against the assessment, when it shall be prima facie evidence only. (6.) Any person who lays any complaint for an offence against this Act shall in the absence of evidence to the contrary be deemed to have been authorised by the Commissioner to lay such complaint. The production of a telegram purporting to have been received from the Commissioner and purporting to authorise any person to institute any prosecution for an offence under this Act or any proceedings shall be admissible as evidence in the prosecution or proceedings, and shall be accepted as evidence of the authority of the officer to institute the prosecution or proceedings. (7.) In every prosecution for an offence against this Act the averment in the complaint shall be deemed to be proved in the absence of proof to the contrary. (8.) In any action or proceeding for the recovery of income tax, or for an offence against this Act, a certificate in writing, signed by the Commissioner, certifying that- (a) The person named therein is a taxpayer; (b) An assessment of income tax was duly made against him in respect of the income year or other period mentioned in the certificate; (c) Any notice was duly served upon him; (d) The particulars of assessment are as stated in the certificate; (e) The sum named in the certificate was, at the date of the certificate, due by him to His Majesty in respect of income tax; shall be prima facie evidence of the facts stated in the certificate: Provided that in any such action or proceeding it shall not be competent for the defendant to question the due making and correctness of any assessment. (9.) The validity of any procedure under this Act, or of any assessment or any book or any document

11022 ss. 78, 79. INCOME TAX. PART VIII.- - - - - - - - - - - - - - - - - - - - - - - - - PENAL PROVISIONS Income Tax Act. 15 GEO. V. No. 34, P~ ~ ~ ~ ~ ~ ~ . - - - - - - - - - - - - - - - - - - - - - - - - purporting to be made under this Act or to be signed by the Commissioner, shall not be prejudiced or affected by reason of any irregularity or informality therein,. or of the fact that any of the provisions of this Act· have not been complied with. (10.) The Commissioner shall not, for the purposes. of demanding or recovering income tax or for any other of the purposes of this Act, be concluded or estopped by any entry appearing in any assessment, book, notice~ record, document, or writing made, kept, or given by him or any of his officers. (11.) It shall not be necessary in any case to prove the incorporation or registration of any company or that any officer or person is or was the public officer of a company or acting in its business. (12.) Any return made or purporting to be made or . signed. by or on behalf of any person or by the public officer of any company for the purposes of this Act shall, for all purposes, be deemed to be duly signed by such person or by the public officer of the company affected, as the case may be, unless such_person or public officer proves that such return was not made or signed as aforesaid. (13.) The onus of proof that any income is exempt from or not liable to payment of income tax, or is subject or entitled to any deduction, shall lie on the person claiming the benefit of such exemption, non-liabHity, or deduction. Commis. 78. In any action or in any proceeding whatsoever a ~ p ~~ p : e ~ a o r : ~ n n ay upenrdseornatlhylis oAr ctb, ythae bC a o r ~ n m s i t s e s r jo o n r er somll.C ~ l y torapopreabry esiothmeer proceedIngs. officer in the public service. The appearance of any such officer and his statement that he so appears by authority of the Commissioner shall be sufficient evidence of such authority for all purposes. Actions against officers. 79. No action for anything done or omitted to be done by the Commissioner or any officer or person appointed or employed under this Act, in the execution of his duty, shall be brought unless the same is com- menced within six months a fter the act or omission complained of was done or omitted to be done; and no such action shall be commenced until one month's previous notice in writing thereof, and of the cause thereof, has been delivered to the defendant by the party intending to commence such action.

]924. INCOl\IE TAX. Income. Tax Act. s.80. 110::3 PART IX.- PART IX.-MISCELLANEOUS. lIlrsCEL· LANEOUS. 80. Every company which carries on business in Public Queensland shall at all times be represented by a person officer residing in Queensland, duly appointed by the company of company. or by its duly authorised agent or attorney, and such person shall be called the public office~ of the company for the purposes of this Act. With respect to every such company and public officer the following provisions shall apply:- (1.) Every company not so carrying on business at the passing of this Act shall appoint such public officer within three months after the company commences to 'Darry on business in Queensland. (2.) Every company shall keep the office of public officer constantly filled and DO appointment of a public officer shall be deemed to be duly made until after notice thereof in writing, specifying the name of the officer and address for service, has been given to the Commissioner. (3.) If the company fails or neglects to duly appoint a public officer when and as often as such appointment becomes necessary, it shall be guilty of an offence, and shall be liable to a penalty not exceeding fifty pounds for every day during which the failure or neglect continues. ~ (4.) Service of any document at the address for service or on the public officer of a company shall be sufficient service upon the company ior all the purposes of this Act. If at any time there is no public officer, then service upon any person acting or appearing to act in the businesF! ·of the company shall be sufficient. (5.) The public officer shall be answerable for the doing of all such things as are required to be done by the company under this Act, and in case of default shall be liable to the same penalties. (6.) Everything done by the public officer which he is required to do in his representative capacity shall be deemed to have been done by the company. The absence or non-appointment of a public officer shall not excuse the company from the necessity of complying with any of the provisions of this Act or from any penalties on the failure to comply therewith, .but the company shall be liable to the provisions of this

11024 PART IX.- MISCEL- LANEOUS. ss. 81,84. INCOME TAX. Income Tax Act. 15 GEO. V. No. 34, Act as if there were no requirement to appoint a pu~ lic officer. (7.) In any proceedings under this Act taken against the public officer of the company, the proceedings shall be deemed to have been taken against the company, and the company without exoneration of the public officer shall also.be liable for any penalty imposed upon the public officer. Obligations, 81. With respect to every agent and with respect & agce. , notsf and also to every trustee, the following provisions shall trustees. apply:- (1.) He shall be answerable as taxpayer for the doing of all such things as are required to be done by virtue of this Act in respect of the income earned or derived by him in his representative capacity or earned or derived by the principal by virtue of his agency and the payment of income tax thereon. (2.) He shall in respect of such income make the returns and be assessed thereon, but in his representative capacity only, and each return and assessment shall, except as otherwise provided by this Act, be separate and distinct from any other. (3.) If he is trustee in ·the estate of a deceased person, the returns shall be the same as far as practicable as the deceased person, if living, would have been liable to make. Person in receipt or control of money for absentee. 82. Every person who has the receipt, control, or disposal of money belonging to a person resident out of Queensland- (a) Who earns or derives income from a source in Queensland; or (b) Who is a shareholder, stock holder, debenture holder, or depositor in a company carrying on business in Queensland; shall when required by the Commissioner pay the income tax due and payable by the person on whose behalf he has the control, receipt, or disposal of money. Payment of 83. Where any income of any person outside atabxsebnytee's Queensland is paid into the account of that person with banker. a banker within Queensland, the banker shall be deemed the person's agent in respect of the money so paid so long as he is indebted in respect thereof. Contracts to evade tax void. 84. Every contract, agreement, or arrangement made or entered into, in writing or orally, whether before or after the passing of this Act shall, so far as it

1924. INCOME 'rAX. Income. Tax Act. ss. 85, 86. 11025. PART IX.- MISCEL- LANEOUS. has or purports to have the purpose or effect of in any way, directly or indirectly- (a) Altering the incidence of any income tax; or (b) Relieving any person from liability to pay any income tax or make any reLurn; or (c) Defeating, evading, or avoiding any duty or liability imposed on any person by this Act; or (d) Preventing the operation of this Act in any respect; be absolutely void, but without prejudice to its validity in any other respect or for any other purpose. 85. Whenever as to any particular income-- Commis- (a) More than one person appears or claims to be~~t~~~~~e- liable or qualified to pay income tax; or doubtful (b) A question arises as to the person liable to cases. pay income tax; or (c) A question arises as to whether a person is liable to payor is chargeable with income tax, and whether on his own behalf or as trustee or agent of any other person; the Commissioner may decide the matter in question, subject, however, to objection, as provided by this Act. Pending the final decision of the matter, all the persons appearing to be liable to pay income tax in respect of any particular income shall be jointly and severally responsible and liable for the proper discharge of the duties imposed by this Act on taxpayers. 86. In any case where it is shown to the Release of satisfaction of the Commissioner- ctaaxsepsayoefrs in, (0.) That a taxpayer liable to pay income tax has hardship. become insolvent within the meaning of any law for the time being in force relating to insolvency; or (b) That a taxpayer has suffered such a loss or is in such circumstances, or, that owing to the death of a person who if he had lived would have paid tax the dependants of that person are in such circumstances, that the payment of the full amount of tax would entail serious hardships; the Commissioner may release the taxpayer or the trustee in the estate of a deceased person (as the case may be) wholly or in part from his liability, and the Commissioner may make such entries and alterations in the assessment as are necessary for that purpose.

11026 PART IX.- MISCEL- LANEOUS. ss. 87-90. INCOME TAX. Income Tax Act. 15 GEO. V. No. 34, Accounts of 87. It shall be the duty of every taxpayer carrying taxpayer's on a business and he is hereby required to enter or business. cause to be entered, in a book or books to be kept for that purpose, full particulars of his business transactions in such a language and manner that his income can be readily ascertained. The Commissioner may require him to alter his method of keeping his books if in the opinion of the Commissioner they are not kept in a satisfactory manner. Any person offending against this section shaH be liable to a penalty of not less than one pound nor more than fifty pounds. Access to books, &c. 88. The Commissioner, or any officer authorised by him in that behalf, shall at all times have full and free access to all buildings, places, books, documents, and other papers for any of the purposes of this Act and for that purpose may make extracts from or copies of any books, documents, or papers. Department 89. (1.) The Commissioner may, by notice in i t n o foorbmtaaitnion writing, require any person, whether a taxpayer or not, .and including every officer employed in or in connection evidence. with any Department of the Government or by any Public Authority- (a) To furnish to him or to any officer authorised by him in that behalf such information as he may require; and (b) To attend and give evidence before him or before any officer authorised by him in that behalf concerning his or any other person's income or assessment, and may require him to produce all books, documents, and other papers whatever in his custody or under his control relating thereto. (2.) The Commissioner may require the information or evidence to be given on oath and either orally or in writing, and for that purpose he or the officer so authorised by him may administer an oath. (3.) The regulations may prescribe scales of expenses to be allowed to persons required under this section to attend. Provision as 90. (1.) It shall not be lawful for any person to to tax .agents. charge or receive any fee directly or indirectly for or in relation to the preparation of any income tax return for a taxpayer unless he is registered as a tax agent with the Commissioner.

U124. INCOME TAX. lnoome. Tax Act. s.90. 11027 PART IX.- MISCEL- LANEOUS, (2.) It shall not be lawful for any person (other than a solicitor or a barrister engaged in litigation or in an advisory capacity) to charge or receive any fee directly or indirectly for or in relation to the transaction of any business on behalf of a taxpayer in income tax matters unless he is registered as a tax agent with the Commissioner: Provided that the Commissioner may in his discretion exempt any person from the provisions of this secti on upon being satisfied that the total income of such person derived as a tax agent does not exceed ten pounds per annum, and may grant to such person a certificate of exemption in that behalf, which shall have a currency of one year but may be annually renewed; but this exemption shall not be granted to an applicant with respect to any place or district in which there is a registered tax agent within reasonable access of tax- payers. (3.) Only such persons as satisfy a Board (consisting of the Auditor-General, the Under Secretary to the Treasury, and a public accountant appointed by the Governor in Council) as to their qualifications and fitness to so act, shall be registered as tax agents. Such Board is hereby authorised and required to deal with all applications for such registration. Where a firm carries on the business of tax agents it shall be sufficient if one member of the firm is so registered on behalf of the firm. Where a registered company carries on the busines'3 of tax agents it shall be sufficient if some person appointed in writing by the company is so registered on behalf of the company. (4.) Each registered tax agent shall pay to the Commissioner an annual fee of two guineas if carrying on business within the petty sessions district of Brisbane, or of one guinea if carrying on business elsewhere within the State. (5.) The Board may cancel or refuse to renew the registration of any tax agent upon its being proved to their satisfaction that such tax agent or his representative has prepared a return which is false in any material particular, or has persistently neglected to attend to his principal's business, or who, in the opinion of the Board, is not a fit or proper person to be so registered. (6.) If through the neglect of a regi stered tax agent a penalty or additional tax is charged against a taxpayer,

11028 PART IX.- MISCEL- LANEOUS. ss. 91-93. INCOME TAX. Income Tax Act. 15 GEO. V. No. 34, the registered tax agent shall be liable to pay this penalty or additional tax, and the amount may be recovered by hiB principal from him by process of law, but this provision shall not be construed so as to exonerate the taxpayer from his liability. (7.) For the purposes of this section the Board may, by notice in writing, require any person- (a) To furnish them with such information as they may require; and (b) To attend and give evidence before them, and may require him to produce all books, documents, and other papers whatever in his custody or under his control in relation to any matter before them. The Board may require the information or evidence to be given on oath, and either orally or in writing, and for that purpose the Chairman of the Board may administer an oath. For the purposes of this subsection the Board shall be deemed to be a Commission under and for the purposes of *" 'The Official Inquiries E1:idence Act of 1910." Governor'in 91. (1.) If any act, matter, or thing prescribed to Councdil ~ ay be made or done at or within a fixed time cannot be or efoxrtednointgIme I . S not so ma d e or done, t h e G overnor I . n C ouncl '1 may, b y aets. Order in Council from time to time, appoint a further or other time for making or doing the same, whether the time or any such further or other time within which the same ought to have been done has or has not elapsed or expired. . (2.) Any act, matter, or thing made or done within the time or further or other time appointed by such Order shall be as valid as if it had been made or done within the time prescribed. Annual 92. In every year the Commissioner shall furnish Preaproliratmtoent. a report to Parliament upon the operations of this Act. Regulations. 93. (1.) The Governor in Council may, from time to time, make regulations with respect to all or any of the following matters, that is to say:- Duties of officers. (i.) The duties of officers and persons appointed or employed under this Act or engaged in its administratjon, and (if necessary) the districts or places within or at which they are to act; * 1 Geo. V. No. 26, 8upra, page 748.

1924. INCOME TAX. Income. Tax Act. s.93. 11029 PART IX.- MISCEL- LANEOUS. (ii.) Fixing the fees to be paid for COpIes of or FeeR. extracts from any books, assessments, or writings; (iii. ) The ti;ne and mode of making and furnishing Returns. returns to the Commissioner and by whom they shall be made; (iv.) Fixing dates upon which returns shall be sent Times. in, assessment not~ ces shall be given, and payments of income tax shall be made,and for the doing or performance of any other act, matter, or thing necessa,ry to give effect to this Act; (v.) The mode of service of notices and the fixing Service, of address for service; (vi. ) Providing that, for avoiding duplicate taxa- Allowances tion in any case in respect of the same period, and refunds. the Commissioner may make such allowance or refund as he thinks just, and in such manner as may be presc"ibed; (vii. ) The procedure to be observed in the conduct Objectione. and hearing of obj ections before the Court of Review, and (if necessary) specifying the districts or places for which the Court shall hear objections; (viii. ) The manner and form of obtaining, adjusting, Agents for and settling returns from, by, or with any foreign . agent I· n Q ,ueens1and 0 f a fOfe. Ign company caonmd parues or absentee, or person absent from Queens- absentees. land, and prescribing such particulars and such proofs as may be thought fit, and for the purpose of making, completing, and enforcing assessments of the income of any foreign company or absentee or person absent from Queensland; (ix.) Providing, where there is in this Act no Generally. provi sion or no sufficient provision in respect of any matter er thing necessary to giv(j) effect to this Act, in what manner and forrq. the want of provision or insufficient provisio:Q. shall be supplied; providing for any purposes, whether general or to meet particular cases, that mav be convenient for the administra": tion of this Act, or that may be desirable or necessary to carry out the objects and purposes thereof; (x.) Imposing a penalty of not less than one pound: Penalties. nor more than fifty pounds for any breach, of any regulation.

11030 PART IX.- MISCEL· LANEOUS. s.93. INCOME TAX-JUSTICE.::.. Justices Act Amendment Act. 15 GEO. V. No. 6, (2.) All such regulations shall bEl published in the Gazette, and when so published shall be of the same effect as if they were contained in this Act, and shall be judicially noticed, and shall be lajd before the Legislative Assembly within fourteen days after the same have been so published, if the Legjslative Assembly is then in session, or if not, then within fourteen days after the commencement of the next session of the Legislative Assembly. THE SCHEDULE. Income Tax Act of 1902 Income Tax Act Amendment Act of 1902 Income Tax Act Amendment Act of 1904 Income Tax Act Amendmern Act ~ f 1906 Income Tax Act Amendment Act of 1907 Income Tax Act Amendment Act of 1915 Income Tax Act Amendment Act ~ f 1918 Income Tax Act Amendment Act of 1920 Income Tax Act Amendment Act of 1920, No. 2 Income Tax Act Amendment Act ~j 1921 Income Tax Act Amendment Act of 1922 Income Tax Act Amendment Act o./' 1923 2 Edw. VII. No. H} 2 Edw. VU. No. 23 4 Edw. Vll. No. \J () Edw. VII. No. 11 7 Edw. VII. No. fi 6 Geo. V. No. 33 9 Geo. V No. 2 10 Geo. V. No 35 11 Geo. V. No. 12 12 Geo. V. No. 19 13 Geo. V. No. 32 14 Geo. V. No. 42 INDUSTRIAL ARBITRATION. See LABOUR. INDUSTRY, COTTON. See COTTON. INSTRUCTION OF BLIND, DEAF, AND DUMB CHILDREN. See EDUCATION. JUSTICES. 15 N G o e . o 6 . . V. An Act to Make Provision for the Admittance to THE Bail of Persons Committed for Sentence on JUSTICESACT Charges of Certain Indictable Offences. AMENDMENT ACT OF 1924. [ASSENTED TO 8TH SEPTEMBER, 1924.] B E it en::lctcd by tIw King's l\lost Excellent Majesty, bv and. wit.h the ad.vice and consent. of the Legis- lative A ssembl~' of QueenslaJld in Parliament aS8embred~ and by the authority of the same, as folll)ws :- Short title 1. This Act may be cited as "The JusticesAct : ~ ~ struction Amendment Act 0/ 1924," and shall be read as one with of Act.