Income Tax Acts Amendment Act of 1930, No. 2 (21 Geo v No. 40) (Qld)

]2934 INCOME TAX. PART IV.- GEXERAL. Income Tax Acts Amendment Act. 21 GEO. V. No. 40, ~ _ _ _ _ _ _ _ _ _ _ _ 0 ' - _ _ _ • _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ of the Minister shall be filed with such instruments of security, and the parties thereto shall be bound accordingly. Regulations. Regulations. 9. The Governor in Council may from time to time make .egulations providing for all or any purposes, whether general or to meet particular cases, that may be convenient for the administration of this Act, or that may be necessary or expedient to carry out the objects and purposes of this Act. Such regulations may be made on the passing of this Act. All regulations shall, upon being published in the Gazette, be of the same effect as if they were enacted in this Act, and shall be judicially noticed and shall not be questioned m any proceedings whatsoever. INCOME TAX. n. See TAXATION-FINANCE Am' OF 1930, PART See also LABOUR-INCOME (UNEMPLOYMENT RELIEF) TAX ACTS OF 1930. 21 Oeo. V. An Act to Further Amend H The Income Tax Acts, No. 40. THE INCOME 1924 to 1930," in certain particulars. TAX ACTS AMENDMENT ACT OF 1930, [ASSENTED TO 24TH DECEMBER, 1930.] . No. 2. B E it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis- lative Assembly of Queenslandin Parliament assembled, and by the authority of the same, as follows:- Short title 1. This Act may be cited as "The Income Tax aconnds t ruc t' IOn. a A s cts on A e m W en • It d h me > ' :< n ' ' fTAhcet Ionfco 1 m 93 e 0, TNaox. A 2, c " ts, an1d92s4ha t l o l b1e9r3e0a, " d herein referred to as the Principal Act. Amendments of the Principal Act. Amendment 2. In paragraph (a) of subsection one of section of s. 11. eleven of the Principal Act the words and brackets, namely, "(except in the case of any consideration received by or for the owner of any freehold interest for the sale of the' goodwill of an hotel property)," are repealed. * 15 Oeo. V. No. 34; 16 Oeo. V. No. 15; 17 Geo. V. No. 32; 19 Qeo. V. No. 17; 20 Geo. V. No. 18; and 21 Qeo. V. No. 19, supra, pages 10945, 11295, 11590, 12178, 12481, and 13178.

INCOME 'l'AX. 12935 1930. Income Tax Acts Amendment Act. Also the words and brackets " (except as aforesaid)" also occurring in the said paragraph (a) are repealed. The amendments aforesaid made by section two of Operation of this Act to section eleven of the Principal Act shall take amendments. effect and be operative from the passing of *" The Finance Act of 1930." as f 0 3 11 o . wSesc: t-ion nineteen of the Principal Act is amend~ . d Aofms.en 1 d 9 m . ent After paragraph (v) the following proviso is inserted :- "Provided that, in estiIpating the profit in respect of any sale for the purposes of sub- section one or subsection two of section ten of this Act, no deduction shall be made in respect of any sum expended in the pur- chase of wire or wire-netting and in placing such wire or wire-netting in position on the fence, or of any amount paid in respect of wire or wire-netting as purchase money or interest thereon and in placing such wire or wire-netting in position on the fence, where such sum so expended or such amount so paid has already been allowed as a deduction pursuant to this paragraph (V)." 4. Section forty of the Principal Act is amended as Amendment f o 11 ows:- of s. 40. In paragraph (a), after the words" or partnership" wherever they occur, the words "or company" are inserted. P~ ragraph (b) of the said section is repealed and a new paragraph (b) is inserted in lieu thereof, namely:- "(b) Provided that, where any person to whom such interest has been paid includes such interest in his return of income, the amount of tax paid by the person or partnership or company paying such interest shall be credited to the tax payable in respect of such interest by the person receiving such interest; and in any case where the tax on such interest paid by the person or partnership or company paying such interest is greater than the amount of tax payable in respect of such interest by the person receiving such interest, a refund * 21 Geo. V. No .. 19, infra, page 13178.

12936 INCOME TAX. Income Tax Acts Amendment Act. 21 GEO. V. No. 40, 1930. of the excess of such tax paid by the person or partnership or company paying such interest may be made to the person receiving such interest, or such excess may be credited to any other income tax pay- able by the person receiving such interest under this Act accordingly: Provided always that, where the person or partner- ship or company paying such interest does not deduct the amount of the tax paid by such person or partner- ship or company from moneys due and payable by such person or partnership or company to such person receiving such interest, the provisions of the last pre- ceding proviso shall not apply: Provided further that, in any case where the person or partnership or company paying such interest pays the tax in respect of such interest but does not deduct the a.mount of the tax paid thereon from moneys due and payable by such person or partnership or company to such person receiving such interest, and such last- mentioned person includes such interest in his return of income and pays tax (if any) thereon, a refund of the amount of the tax so paid by such person or partnership or company in respect of such interest may, on proof to the satisfaction of the Commissioner, be made to such person or partnership or company, or such amount of the tax so paid may be credited to any income tax payable by such person or partnership or company under this Act accordingly." Operation of The amendments aforesaid made by sections three mamenentsd· and four of this Act to sections nineteen and forty made by respectively of the Principal Act shall be read and sfthoecuretri. eonasnd n co . nosftr * u " e T d h a e s F if in s a u n c c h e a A m c e t n o d f m19e3n0ts, " waenrde ctoontthaeiniendteinntPaalsrot that the provisions of section fourteen of such last- mentioned Act shall apply and extend accordingly. * 21 Geo. V. No. 19, infra, page 13178.