Income Tax (Amendment) Act 1925 (NSW)

INCOME TAX (AMENDMENT)

ACT,

therewith and to impose income tax on such payments or credits ; to amend the Income Tax Act, 192-1, and for purposes connected therewith. [Assented to, 30th December, 1925.] BE

Act Xo. 25, 1925.

An Act to declare1 the rate of income tax to he paid
on taxahle income derived from payments or
credits in respect of the sale, leasing, or disposal of motion picture1 films or rights in connection

lative Council and Legislative Assembly of New South BE it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis­

Wales in Parliament assembled, and by the authority of the same, as follows :—

1 . This Act may be cited as the " Income Tax (Amendment) Act, 1925," and shall be read with the Income Tax (Management) Act, 1912, as amended by subsequent Acts.
2 . The Income Tax Act, 1924, is amended by inserting the following new section next after section four:—

5. (1) Notwithstanding the provisions of sections three and four of this Act the income tax payable by any person in respect of the taxable income referred to in section 18A of the Income Tax (Management) Act, 1912, as inserted by the Income Tax (Management) Amendment Act, 1925, shall be five shillings in the pound or such less sum in the pound as may for any year of income be fixed by the Governor and notified by proclamation published in the Gazette.

(2) In respect of the taxable income referred to in subsection one of this section which has bee a received by or credited to any person during the period of twelve months ending on the thirtieth day of June one thousand nine hundred and twenty-five, and in each subsequent year there shall be annually levied and paid under the provisions of the Income Tax (Management) Act, 1912, as amended by subsequent Acts and in the manner therein	prescribed, income tax at the rate specified in
subsection one of this section or at such other rate
as may be for the year of income the rate fixed under that subsection.

INCOME