Income Tax Regulations 1922 (Cth)

STATUTORY RULES.

1923. No. 12.

 

REGULATIONS UNDER THE INCOME TAX ASSESSMENT ACT 1922.

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Income Tax Assessment Act 1922, to come into operation forthwith.

Dated this ninth day of February, 1923.

FORSTER,

Governor-General.

By His Excellency’s Command,

S. M. BRUCE,

Treasurer.

 

Part I.—Introduction.

Short Title.

1. These Regulations may be cited as the Income Tax Regulations 1922.

Parts.

2. These Regulations are divided into Parts, as follow:—

Part I.—Introductory.

Part II.—Returns.

Part III.—Payment of Income Tax.

Part IV.—Objections.

Part V.—Miscellaneous.

3. In these Regulations—

Definition

“Financial Year” means a financial year as fixed by the Act.

“The Act” means the Income Tax Assessment Act 1922.

Part II.—Returns.

Signature of returns.

4. Every return shall be signed by the person who makes it.

Penalty: Twenty pounds.

Returns to be in First Form except as otherwise provided.

5. Except as hereinafter otherwise specially provided, every return shall be made and furnished in the First Form in the Schedule or in such other Form as is determined by the Commissioner.

Returns by companies.

6. Every return by a company shall be made and furnished in the Second Form in the Schedule or in such other Form as is determined by the Commissioner, and shall be accompanied by:—

(a) A Balance-sheet and Profit and Loss Account supporting the particulars in the return;

(b) A statement showing—

(i) the names and addresses of all shareholders resident in Australia during the twelve months preceding the financial year for which income tax is payable; and

(ii) the amount (if any) of profits credited paid or distributed to each such shareholder during the twelve months preceding the financial year for which income tax is payable whether or not the period covered by return differs from such financial year;

C.18199.—Price 8d.

(c) A statement showing—

(i) how much of the assessable income derived by the company, during the period covered by the return, has been distributed (either during or after that period) to members or shareholders who are absentees; and

(ii) the amount paid or credited as interest to persons who are absentees in respect of debentures of the company used in Australia or on money lodged at interest in Australia with the company; and

(d) A statement showing—

(i) the total amount of the interest or dividends distributed by the company in respect of debentures or share stock payable to bearer, the names and addresses of the holders of which are not supplied to the Commissioner by the company;

(ii) the names and addresses of all holders of debentures or share stock payable to bearer which the company is in a position to furnish (whether absentees or residents in Australia), together with the amount of interest or dividend distributed to each of such persons during the twelve months preceding the financial year for which Income Tax is payable whether or not the period covered by the return differs from such financial year.

(e) (If the return is the first return furnished by the company) notice of the appointment of the Public Officer of the company.

Returns by partnerships.

7. Every partnership whose total income from all sources in Australia in any year exceeds £200 (Two hundred pounds) shall, when called upon by the Commissioner by notice published in the Gazette, furnish to the Commissioner a partnership return setting forth a full and complete statement of the income derived by the partnership during the year in respect of which the return is required.

Return to be made by senior active partner in Australia.

8. Every partnership return shall be made and furnished by the Senior Active Partner resident in Australia.

Separate returns to be furnished for partners.

9. (1) Every partner in a partnership shall furnish a separate return of his total individual income (including income from the partnership and from other sources) in every case in which he would be required to furnish a return if the same total income had been derived by him from sources other than the partnership.

(2) The return shall state the income derived respectively from—

(a)the partnership, and

(b) from other sources.

Agent to furnish separate returns for each principal.

10. Every person liable to furnish a return as agent for another person shall furnish a separate return for each person for whom he is agent in addition to his own individual return.

Partnership return by agent.

11. Every agent for a partnership shall furnish a partnership return and shall also if so required by the Commissioner furnish a separate return for each partner.

 

Where agent not sole agent.

12. If an agent is not the sole agent in Australia for a person required to furnish a return, he shall furnish a separate return stating all his transactions as agent for that person.

Trustees.

13. (1) Every return in respect of a trust estate shall be made and furnished by the Senior Active Trustee resident in Australia.

(2) When there is no trustee resident in Australia the return shall be made and furnished by the agent in Australia for the trustees.

Statement to be furnished by employers.

14. (1) Every employer of labour shall, when called upon by the Commissioner either by general notice published in the Gazette or by direct notice to the employer, furnish to the Commissioner a statement showing:—

(a) the names and addresses of all persons employed by him during the period mentioned in the notice;

(b) the capacity in which each person was employed;

(c) the total amount paid to each person during that period; and

(d) the value of board residence or other allowance made to each person during that period.

(2) Each statement shall be furnished to the Commissioner at the place where under the Regulations the return of the employer is to be furnished, unless the Commissioner otherwise directs.

Special returns.

15. Returns required by the Commissioner otherwise than by notice published in the Gazette pursuant to section 32 of the Act shall be made and furnished in the form specified in the requirements.

Substantially similar returns.

16. The Commissioner may at any time accept a return in a form substantially similar to a prescribed form.

Balance-sheets to be furnished.

17. A copy of every balance-sheet and profit and loss account relating to the income included in any return shall be furnished with that return.

Lodging of returns.

18. (1) Returns of income derived from sources wholly within one State shall be furnished to the Commissioner at the office of the Deputy Commissioner in that State.

(2) Returns of income derived from sources in Australia not wholly within any one State shall be furnished to the Commissioner at the head office of the Commissioner at Melbourne.

Source of dividends.

19. Income consisting of dividends on shares in a company shall be deemed to have been derived from a source within the State in which the head office of the company in Australia is situated.

Lodging of returns when income partly of dividends.

20. When part of an income consists of dividends on shares in companies and the remainder of the income has been derived from sources wholly within one State the return may be furnished to the Commissioner at the office of the Deputy Commissioner in that State notwithstanding that the dividends may have been derived from sources within other States.

Source of mortgage interest.

21. (1) Income consisting of interest received under a mortgage shall be deemed to have been derived from a source within the State in which the mortgaged property is situated.

(2) If the mortgaged property is situated in more than one State the income shall be deemed to have been derived from sources within more than one State.

Territories.

22. For all purposes of these Regulations—

(a) the territory of the Seat of Government shall be deemed to be in the State of New South Wales;

(b) the territory of Papua shall be deemed to be in the State of Queensland; and

(c) the Northern Territory of Australia shall be deemed to be a separate State.

When return deemed to be furnished.

23. A return shall not be deemed to have been duly furnished to the Commissioner unless and until:—

(a) the proper form in accordance with these Regulations signed by the person making the return and containing a full true and complete statement of all matters and things required by the Act and Regulations, the Commissioner, and the form itself to be stated therein; and

(b) all balance-sheets, profit and loss accounts, statements, notices, and other documents which by the Act the Regulations or the Commissioner are required to accompany the return—

have at the place where under these Regulations the return is to be furnished, been received by an officer authorized by the Commissioner to receive returns.

Persons to take necessary steps for due lodging of return.

24. Whenever a person is required by the Act, the Regulations, or the Commissioner to furnish a return to the Commissioner, it shall be the duty of that person to make the required return and to take all steps necessary to insure that the return is received by the Commissioner at the place where under these Regulations the return is to be furnished.

Address for service.

25. Every person who furnished a return shall in the return give an address in Australia for service.

Notice of change of address.

26. Every person who has given an address for service and who subsequently changes his address shall, within one month after the change, give to the Commissioner at the place where he furnished his return notice in writing of his new address in Australia for service.

Address deemed to be last known place of business or abode.

27. The address for service last given to the Commissioner by any person shall for all purposes under the Act and Regulations be deemed the last known place of business or abode of that person in Australia, but where no address for service has been given to the Commissioner or Deputy Commissioner, the address of the person as described in any record in the custody of the Commissioner or Deputy Commissioner shall be deemed to be the last known place of business or abode of that person in Australia.

Failure to notify change of address.

28. Any person who changes his address and fails to give to the Commissioner notice of his new address in Australia for service shall not be permitted to plead such change of address as a defence in any proceedings (whether civil or criminal) instituted against him under the Act or Regulations.

Annotations on returns.

29. (1) The Commissioner may cause or permit his officers to make on any return such marks, figures and annotations as the Commissioner thinks fit.

(2) The marks, figures and annotations shall be made in different coloured ink from the ink used in the return and shall be initialed by the officer making them.

Part III.—Payment of Income Tax.

How tax may be paid.

30. A taxpayer may pay income tax in any of the following ways:—

(a) by delivery of cash, bank notes, or cheques at the office of the Commissioner or of any Deputy Commissioner;

(b) by remitting the tax to the Commissioner or any Deputy Commissioner by bank draft, or cheque, or postal money order or postal note payable in the city to which the remittance is sent; or

(c) by depositing the net amount of the tax to the credit of the Commissioner or a Deputy Commissioner at any branch of the Commonwealth Bank of Australia.

Post office to be agent of remitter.

31. When a remittance is posted by a taxpayer addressed to the Commissioner or a Deputy Commissioner the Post Office shall be deemed to be the agent of the remitter and payment shall not be deemed to have been made until the remittance has been received by the addressee.

Payment by cheque.

32. When a cheque has been delivered or remitted to the Commissioner or a Deputy Commissioner in payment of income tax, the tax shall (notwithstanding any receipt given therefor) not be deemed to have been paid until the amount for which the cheque is drawn has been collected.

Receipts to be issued.

33. Receipts for income tax shall be issued by such persons as the Commissioner or a Deputy Commissioner may authorize.

Part payment of tax not to be accepted.

34. Except with the express consent of the Commissioner or a Deputy Commissioner, no money shall be accepted on account or in part payment of income tax.

Postage to be prepaid.

35. The postage on every return, statement, communication, remittance, or other matter sent by post addressed to the Commissioner the Assistant Commissioner or a Deputy Commissioner shall be fully prepaid by the sender.

Deficient postage.

36. When any sum is received as payment of income tax the Commissioner or Deputy Commissioner, as the case may be, shall first deduct therefrom the amount of postage and surcharge (if any) paid upon any unstamped or insufficiently stamped matter received through the post from the taxpayer and shall credit in payment of tax only the net amount then remaining.

Part IV.—Objections and Appeals.

Form of objection.

37. (1) An objection under section 50 of the Act to an assessment may be made in the Third Form in the Schedule.

(2) The objection shall be lodged with the Commissioner at the address from which notice of the assessment objected to was issued.

Amount of deposit to accompany appeals.

38. In any case in which a taxpayer objects to the inclusion of certain income in, or the exclusion of a deduction from, the calculation of his taxable income, and the objection has been disallowed by the Commissioner wholly or in part, and the taxpayer requests the Commissioner in writing to treat the objection as an appeal to the Board of Appeal, the amount of deposit which shall accompany the written request of the taxpayer shall be—

(a) one per centum of the amount of the income which, in accordance with the Commissioner’s decision on the objection, is finally included in the calculation of the taxable income, where the subject in dispute is the inclusion of income in the assessment; or

(b) one per centum of the amount of the deduction which, in accordance with the Commissioner’s decision, is finally excluded from the calculation of the taxable income, where the subject in dispute is the exclusion of a deduction from the assessment; or

(c) one per centum of the sum of the amounts of the income and the deduction which, in accordance with the Commissioner’s decision, are finally included in or excluded from the calculation of the taxable income, as the case requires, where the subject in dispute is the inclusion of income in and the exclusion of a deduction from the assessment:

Provided that in any case the maximum amount of deposit shall not exceed Fifty pounds, and the minimum amount of deposit shall be not less than One pound.

Part V.—Miscellaneous.

Signatures.

39. Any notice to be given by the Commissioner may be given by any officer of the Commissioner duly authorized 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 signed by the Commissioner in person.

Signature deemed to be duly signed.

40. (1) Any certificate, notice, or other document bearing the written stamped or printed signature of the Commissioner the Assistant Commissioner or a Deputy Commissioner shall until the contrary is proved be deemed to have been duly signed by the person by whom it purports to have been signed.

(2) Judicial notice shall be taken of every such signature and of the fact that the person whose signature it purports to be holds or has held the office of Commissioner, Assistant Commissioner or Deputy Commissioner, as the case may be.

Appointment public officer.

41. Whenever the position of Public Officer of a company becomes vacant, and it is necessary for a new Public Officer to be appointed, the notice of appointment by the company of a new Public Officer shall be given to the Commissioner at the place where, under these Regulations, the return of the company is to be furnished.

Onus of proof.

42. In any proceedings against a person for failing or neglecting to duly furnish a return, a certificate in writing signed by—

(a) the Commissioner;

(b) the Assistant Commissioner; or

(c) the Deputy Commissioner at whose office the return should have been furnished.

certifying that no return has been received from that person by any officer authorized by the Commissioner to receive returns at the place where under the Regulations the return should have been furnished, shall be primâ facie evidence that the defendant has failed or neglected to duly furnish a return.

Certificate by Commissioner as to service of notice of assessment, &c.

43. In any action against a person for the recovery of income tax a certificate in writing signed by the Commissioner, the Assistant Commissioner, or the Deputy Commissioner, certifying that—

(a) the person named in the certificate is a taxpayer;

(b) an assessment of income tax was duly made against him in respect of the year mentioned in the certificate;

(c) the particulars of the assessment are as stated in the certificate;

(d) notice of the assessment was duly served upon him by post;

(e) the sum named in the certificate was at the date of the certificate due by him to the King on behalf of the Commonwealth in respect of income tax;

shall be primâ facie evidence of the facts stated in the certificate.

44. In any action for the recovery of income tax evidence may be given by affidavit, and the Court may require the deponent to attend for the purpose of being cross-examined.

Officer may appear for Commissioner.

45. Any officer authorized in writing by the Commissioner or a Deputy Commissioner, whether generally or in respect of any special proceeding, may appear on behalf of the Commissioner or a Deputy Commissioner before any County Court, District Court, Local Court or Court of Summary Jurisdiction in any suit instituted in the name of the Commissioner or a Deputy Commissioner for the recovery of any income tax unpaid, including any additional tax, and any officer so appearing shall be deemed to represent the Commissioner or a Deputy Commissioner, as the case may be, and shall be entitled to conduct the proceedings on his behalf and to give evidence.

Copies or extracts certified by Commissioner to be received in evidence.

46. A writing certified by the Commissioner, the Assistant Commissioner or any Deputy Commissioner to be a true copy of or a true extract from any assessment, return, list, declaration, statement, book, document, or writing of any nature whatsoever in the custody of the Commissioner or of any officer of the Commissioner shall for all purposes be primâ 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.

Service ofnotices, &c.

47. Any notice or other communication by or on behalf of the Commissioner may be served upon any person by posting it, by prepaid letter post addressed to the person at his last known place of business or abode in Australia and service thereof shall be deemed to have been effected at the time when it would in the ordinary course of post have arrived at the place, to which it was addressed or at the post town or post office nearest to that place whether or not it has in fact been received by the addressee.

Where prosecution may be instituted.

48. A prosecution under section 67 of the Act for any of the following offences, namely:—

(a) failing or neglecting to duly furnish a return; or

(b) making or delivering a return which is false in any particular or making any false answer whether verbally or in writing—

may at the option of the prosecutor be instituted either—

(a) in a Court of Summary Jurisdiction having jurisdiction at the place where under these Regulations the return is to be furnished; or

(b) in a Court of Summary Jurisdiction having jurisdiction at or nearest to the usual or last known place of business or abode of the defendant.

Calculation of sinking fund.

49. (1) When it is necessary for purposes of an assessment to ascertain the sinking fund required to replace a sum of money at the end of a number of years, Table I. in the Schedule shall be applied.

(2) When it is necessary for purposes of an assessment to ascertain at any given date the value of a sinking fund accumulated at compound interest to replace a sum of money at the end of a number of years, Table II. in the Schedule shall be applied.

Value of live stock.

50. (1) For the purpose of paragraph (a) of section 16 of the Act the value of live stock on hand at the beginning and end of the year in which the income was derived shall be calculated on the basis of the cost price of the stock.

(2) The cost price of natural increase borne during the year ended 30th June, 1922, and in each subsequent year ending on the 30th June, or during the business accounting period accepted by the Commissioner in lieu of the year ended 30th June under the provisions of section 32 (3) of the Act, shall be the fair average value selected by the owner, not being less than the minimum or greater than the maximum average cost value for the particular species as set forth in Table III. in the Schedule.

(3) The cost price of live stock on hand on 1st July, 1921, or at the commencing date of the business accounting period accepted by the Commissioner in lieu of the year commencing on 1st July, 1921, under the (provisions of, section 32 (3) of the Act, shall be the values accepted and adopted by the Commissioner for purposes of the assessment of income tax for the financial year ended on the 30th day of June, 1922.

(4) Where live stock is purchased during the year and is kept separate and apart from any other stock owned by the taxpayer it shall be valued at purchase price at the beginning and end of each trading year during which it is retained.

(5) Where live stock, which has been purchased, is merged into and becomes part of the general flock or herd of live stock owned by the taxpayer, the stock remaining on hand at the end of the trading year in which the purchases were made shall be valued at the average cost per head ascertained by taking the stock on hand at the beginning of the year at the actual cost, if obtainable, or, if not obtainable, at the average cost per head arrived at under the War-time Profits Tax Regulations at the beginning of the accounting period upon the income of which income tax for 1917-18 is payable, and in each succeeding year at the average cost arrived at under this sub-regulation for the last preceding year, together with the natural increase at the fair average value as set forth in Table III. in the Schedule and the stock purchased during the year at the purchase price of that stock.

(6) All live stock which have died or have been killed for food during the trading year shall be valued at an average cost for the stock on hand at the end of the trading year arrived at under sub-regulation (5) of this regulation.

Declaration by officers.

51. The Declaration to be made by officers pursuant to section 12 of the Act shall be in the following form:—

COMMONWEALTH OF AUSTRALIA.

Income Tax Assessment Act 1922.

Officer’s Declaration of Secrecy.

I.................................. of................................ , in the State of..................... , in the Commonwealth of Australia do solemnly and sincerely declare that except in the performance of any duty under the Income Tax Assessment Act 1922 or any amendment thereof or any Act substituted therefor I will not directly or indirectly divulge or communicate to any person any information relating to the affairs of any person.

Declared before me at............ in the State of......................... this............ day of , 19 .

.............................................................

Justice of the Peace for the State of...........................................................

Commissioner for taking affidavits.

Commissioner for Declarations.

Expenses of witnesses.

52. The expenses to be allowed to any person required under section 99 of the Act to attend and give evidence shall be the sum (not exceeding in any case one pound per diem) actually and necessarily lost by such person by reason of his attendance and in addition (if such person resides more than 4 miles from the place of hearing) such sum for travelling expenses (not exceeding the sum actually paid) as the person conducting the inquiry thinks reasonable.

Penalties.

53. Any contravention of these Regulations for which no other penalty is provided shall fee punishable on conviction by a fine not exceeding Twenty pounds.

Amount of penalty.

54. The penalty set out at the foot of any regulation or sub-regulation indicates that any person who commits—

(a) the offence created by that regulation or sub-regulation; or

(b) a breach of that regulation or sub-regulation whether by act or omission—

shall be punishable upon conviction by a penalty not exceeding the penalty set out and not being less in any case than one-tenth of the penalty set out.

C.18299.—2

Before filling up this Return read carefully the Instructions on last page. Special Note.—Be careful to fill up Schedules 3 and 4 if they apply

THE SCHEDULE.

  

First Form.

Affix full postage and send this Return to the Deputy Federal Commissioner of Taxation, The Rialto, Melbourne (or Deputy Federal Commissioner of Taxation in the Capital City of the State).

FEDERAL INCOME TAX.

Commonwealthof Australia.

File No.

Income Tax Assessment Act 1922.

return of income derived from all sources in during the twelve months from

1st july, to 30th june,

Name in full of Person for whom Return is made (Mr., Mrs., or Miss)

(Write plainly, and underline the surname.)

Occupation

Whether Married or Single  on 30th June,

Postal Address for service of Notices

(Taxpayers are required to notify to the Deputy Commissioner any change of address for service of notices, &c.)

Last return lodged at Federal Taxation Office

If Return is made in the capacity of—

Trustee, name the Estate*
Agent, name the Principal*	who resides at

  “Single” means bachelor, spinster, widow, widower, or divorced person.

* Fill in whichever is applicable.

Part A.

£

Office only.

£

Income from Personal Exertion (when Parts C or D are unsuitable).

1. Stipend, salary, wages, and overtime as employee of  

2. Profession; or share in partnership of  

3 Income as beneficiary under will, settlement, deed of gift, or instrument of

trust of  if trust income is from personal exertion............................

4. Fees, commissions, or bonuses other than life insurance bonuses (attach list)..............

5. Pension, superannuation, or retiring allowance..............................................................

6. Five per centum of retiring allowance or gratuity paid in a lump sum in...................... (Total amount paid to me £ ) 

7. Value of quarters, board, &c., allowed to me by employer............................................

Total Income............................................................................................. £

First Form—continued.

Deductions.		£	Office only £
8.	Amount actually paid for fidelity guarantee or bond or premiums or sums paid by me to............. Company on the insurance effected in Australia of my own life or that of my wife or children, or for deferred annuity, or other similar provision. (Note.—Maximum amount allowable is £50)...........................................................................
9.	Payments to a superannuation, sustentation, or widows’ or orphans’ fund, or any friendly society in Australia. (Name of Society .) (Note.—Maximum amount allowable is £50).......
10.	Interest (other than interest on mortgage secured on my own home) actually paid on borrowed money to the principal sum being employed for the following purposes:—
11.	Gifts exceeding £20 each in cash to public charitable institutions in Australia, and contributions in cash exceeding £5 in the aggregate in respect of each object of contribution made during the continuance of the present war to any public fund established in the British Empire or an allied country, for any purpose connected with the present war. (Detailed list should be attached.) Deductions under this head will not be allowed unless verification in the nature of receipts, cheque butts, &c., is submitted, and accompanies this Return
12.	Sums paid by way of commission for collecting income................................................................
13.	Deduction of £26 for each child under 16 years of age at 1st July, , or born between then and 1st July, , wholly maintained by me. Give full particulars in Statement No. 3
14.	Calls paid by me to Australian mining companies and 5 per cent. of calls paid to other Australian companies (attach list)...................................................................................................................................................
15.	Fire and burglary insurance premiums paid on income producing property (attach list)................
16.	Any other deductions (attach list)....................................................................................................
Total Deductions....................................................................................................... £
Net Income................................................................................................................ £
Part B.
Income from Property.
17.	Gross rents—including rent from subletting (attach list)................................................................
18.	Share of partnership of ...............................
19.	Dividends, interest, &c., received by or credited to me as per Statements 6 and 7........................
20.	Cash prize in lottery.........................................................................................................................
21.	Annuities, royalties, tributes, licences, &c., and premiums, fines, or foregifts received in connexion with leases (attach list)...................................................................................................................................................
22.	Income as beneficiary under will, settlement, deed of gift, or instrument of trust of..................... .
23.	Five per cent. of capital value at 30 /6 /  of my residence owned by me or of property used by me rent free for purposes of residence or enjoyment. Capital value of such property being £  Five per cent. thereof=£.........................................................................
Total Income........................................................................................................
Deductions.
24.	Rates and taxes, &c., as per list (but not including Federal Income Tax)........................................
25.	Repairs (not including alterations, additions, or improvements) to properties from which rent is received (attach list)
26.	Interest paid to on borrowed money used to produce income from property...................
27.	Commission paid to for collection of income from property.............................................
28.	Rent paid to for property from which rent is received...........................................
29.	Interest paid to on a mortgage of land and residence owned and occupied, and in respect of which 5 per cent. of capital value is returned as income under Item 23....................................................................
30.	Any other deductions (attach list)....................................................................................................
Total Deductions.................................................................................................. £
Net Income........................................................................................................... £

DECLARATION.

I, the person making this Return, declare that the particulars shown therein, and also those stated in the Forms, Balance-sheets, Documents, and Lists herewith, are true and correct in every particular, and disclose without reservation or exception a true and complete statement of all Income liable to taxation derived from all sources in by__________________

during the year 1st July, , to 30th June, . Usual Signature_____________

Dated this_______________________________________ day of

   

First Form—continued.

Part C.				Part D
Income from a Trade, Business, Manufacture, or Concern not shown in Parts A or B.				Income of Farmer, Pastoralist, or Horticulturist not shown in Parts A or B.
(Attach Balance-sheet and Trading and Profit and Loss Account.)				£	Office only.
Nature of Business			£
£	Office only. £	38.	Gross sales—cash and credit—for year ended 30/6/   :— (a) Wool £ skins and hides £......... (b) Meat, poultry, &c..................... (c) Milk, cream, butter, cheese, eggs, &c................................................ (d) Grain, hay, fodder, potatoes, &c.  (e) Timber, firewood, bark, &c...... (f) Wine, fruit, vegetables, &c....... (g) Other receipts from farm, station, or orchard................................... (h) Profit as per Statement No. 1...
		Nature of Business
		31. Sales—cash and credit—for the year ended 30/6/  .......................................
					32. Stock and materials on hand, 30/6/  (not including plant and fixtures)....
33. Value of goods (not included in sales) taken from stock and used—
		(a) for maintenance of self, family, and employees......................
					(b) for other purposes, or used in carrying on the business
(c) used as plant or for additions to buildings, &c.................
39.	Value of stock and produce given in exchange for goods provisions, &c. ...............
Total................................ £
40.	Value of milk, butter, eggs, and vegetables, &c., taken from the business for household use and sustenance of employees..........
41.	Value on hand at 30/6/   of—
(a) Farm and orchard produce....
(b) Wool, skins, hides, &c.........
42.	Income from other business sources (attach list).........................................................
43.	Five per cent. of capital value at 30/6/   of house owned and used, or used rent free, as residence......................................................... Capital value £  5 per cent. thereof £
Deduct— 34. Stock and materials (not including plant and fixtures) on hand, 30/ 6/  , £			Less— 44.	Total....................................... £
		(a) Value of farm and orchard produce, wool, &c., held on 1st July,  .............................................		£
35. Net Purchases  for business only of stock during year ended 30/6 /  , £		(b) Purchases during year  , for business purposes—
Net amount...................... £
(1) Seed, plants, &c., for resale.................................
Add—-		(2) Fodder ...................... (3) Fertilizers and manures.................................
			36. Income from commissions, discounts, rebates, and sundry credits ......		(4) Stock, &c., received in exchange for produce, &c..................................
37.Income from other business sources (attach list)............................................		(c) Loss as per Statement No. 1.............................................
Total income................... £		£

 

First Form—continued.

Parts C and D—continued.

Deductions.		Office only.
		£	£
45.	Salaries and wages actually paid in the business (not including any sums drawn by me or paid as wages for fencing, ringing, clearing, or similar improvements, or for alterations or new works)......................
46.	Amount expended for food for employees (including my own children over 15) employed exclusively in the business...............................................................................................................................................
47.	Rent of business premises or land (not including C.P. payment for land to the Government) paid to
48.	Rates and taxes, not including Federal Income Tax (attach list). If any income is shown in Part B, this deduction must be shown in Part B only.........................................................................................................
49.	Insurance on business premises and stock (attach list).............................................................
50.	Interest paid to on money used in connexion with the business................
51.	Depreciation by wear and tear of plant and machinery used in the business (not including buildings). (Attach list of plant, machines, &c., and respective values at 1st July,  , and percentages written off)....
52.	Repairs (not including alterations, additions, or improvements) to property and machinery, implements, utensils, rolling-stock, and articles used in the production of income, but not including repairs to properties from which rent is received..............................................................................................................................
53.	Bad debts incurred in period 1/7/  to 30/6/  in the trade and proved to be bad and actually written off for the first time during the year ended 30/6/  (attach list)..............................................................................
54.	Exchange, commission, and discount.......................................................................................
55.	Travelling expenses incurred in the business only....................................................................
56.	Contributions to employees’ benefit or provident fund (attach list).........................................
57.	Gifts exceeding £20 each in cash to public charitable institutions in Australia and contributions in cash exceeding £5 in the aggregate in respect of each object of contribution made during the continuance of the present war to a public fund established in British Empire or allied country for any purpose connected with the present war. (Detailed list and verification should be attached as per Item 11)..............................................................

58.	Printing, stationery, advertising, stamps, telegrams, for business purposes only.....................
59.	Gas, electricity (light and power), telephone, &c. (for business only).....................................
60.	Other business expenses (attach list).........................................................................................
61.	Calls paid to Australian mining companies, and 5 per cent. of calls paid to other Australian companies (attach list)...............................................................................................................................................
62.	Premiums or sums paid by me in Australia to  Company on the insurance of my own life or that of my wife or children, or for deferred annuity, or other similar provision. (Note.—Maximum amount allowable is £50)
63.	Deduction of £26 for each child under 16 years of age at 1st July,   , or born between then and 1st July,  , wholly maintained by me. Give full particulars in Statement No. 3.................................................
Total Deductions.................................................................................................. £
Taxable Income................................................................................................... £

Statement No. 1.—Live-stock Schedule.

—	Number.	Value.	—	Number.	Value.
£	Sales 1/7/   to 30/6/ —	£
	Stock on hand at 1st July, , at standard values—	Sheep..........................
		Cattle..........................
		Horses........................
	Sheep @.........................	Pigs.............................
Cattle @.........................
Horses @.......................	Killed for rations—
Pigs @............................	Sheep.........................
Cattle..........................
Purchases at cost—	Pigs............................
Sheep.............................
Cattle..............................	Stock on hand at 30th June,  (including natural increase), at standard values—
Horses...........................
Pigs................................	Sheep @.....................
Cattle @.....................
Horses @....................
Pigs @........................
Balance, Profit, carried to item No. 38 (h)...........................................	Balance, Loss, carried to Item No. 44 (c).........................................

 

Underline Surname and sign the Return. Penalty for late lodgment, 10 per cent. of Tax or Prosecution. If your Income, other than Dividends in Companies, is derived from more than one State do not use this form. Get a suitable form from the Commissioner at The Rialto, Collins street, Melbourne.

Statement No. 2.—Statement of Distribution By Trustees or Partnerships.

Name in full of each Partner or Beneficiary.

Residence.

Net Amount credited or paid to each Partner or Beneficiary.

Balance Undistributed.

£

£

Note.—If any of the beneficiaries in an estate is a minor, state amount held in trust for such minor £

Statement No. 3.—Déductions Claimed in respect of Children under 16 Years of Age at 1st July, , wholly maintained by Taxpayer.

Name of Child.

Date of Birth.

If not wholly maintained during year ended 30/6/  , state for what period.

If not wholly dependent state in what other way partly maintained.

Statement No. 4.—Contributions to Dependants by Bachelors, Spinsters, Widows, Widowers, or Divorced Persons.

Name of Dependant.

Relationship to Taxpayer.

Amount contributed by Taxpayer during the period 1/7/  to 30/6/  .

Remarks.

Statement No. 5.—Statement of Salaries and Wages paid and Allowances to Employees.

Employee’s Christian Name and Surname.

In what Capacity employed.

Place of Residence and Postal Address.

If not employed for whole period, state period employed.

Rate of Pay.

Total Amount of Salary or Wages paid to each in year ended 30/6/   .

Value of Board, Residence, or other Allowance to each in year ended 30/6/  .

£

Quarters.

Board.

£

£

If the space is not sufficient to contain all the names, special sheets may be obtained from the Department of Taxation. Payments to any one person at a rate less than £100 per annum need not be shown.

 

Statement No. 6.—Dividends from Companies.

Name of Company.	Address.	*Amount.			Name of Company.	Address.	*Amount.
£	s.	d.	£	s.	d.

* The gross amount of dividends must be shown. Any rebates allowable on account of income having been earned by the Company outside Australia will be calculated and deducted by the Department. Carry total amount from this Statement to item 19.

Statement No. 7.—Particulars of Money Lent by me on Mortgage, Bank deposit, Bonds, Debentures, or otherwise, except on Government Securities.

Name of Bank, Company, Firm, or Person to whom Money is lent.	Address.	Principal Amount.	State whether Deposit, Bonds, Debentures, or otherwise.	Amount of Interest received during year ended 30/6/  .
£	£	s.	d.

Carry total amount of interest shown above to Item 19.

Instructions to Taxpayers.

Omission of any Income from a Return will render the taxpayer liable to a penalty of 10 per cent. of the whole tax assessable.

Returns.

The following persons are liable to render an Income Tax Return for the 12 months ending

30th June, :—

(a) Persons resident in  in receipt of a gross income exceeding £156, who are married or have dependants.

(b) Persons, resident in in receipt of a gross income of £100 and upwards, who are not married and have no dependants.

“Dependant” means a relative of & taxpayer by blood, marriage, or adoption, towards whose maintenance the taxpayer has contributed at least Twenty-six pounds during the year in which his taxable income was derived.

(c) Absentees having an income of £1 or upwards.

He must complete the return and sign the declaration, and deliver the return to the Federal Commissioner of Taxation, Melbourne, if the income is derived from sources in more than one State, or if the income, other than dividends in Public Companies, is derived from sources in one State only, to the Deputy Federal Commissioner of Taxation in the Capital City of that State.

Full postage must be prepaid on all returns, &c., sent by taxpayers.

Partners’ Individual Returns.—The senior resident partner should make the partnership return. Each partner must make a separate return of his income from all sources, including his share of the partnership profits.

Trustees and Beneficiaries in Trust Estates.

The senior or active trustee should make this return and statement. The return of each beneficiary who has no other source of income should be attached to, and lodged with, the trustee’s return wherever possible.

Income.

Every married person or person with dependants who received wages at the rate of 10s. a day or over in continuous employment, or whose total income amounted to £156 or over, during the

 

Instructions to Taxpayers—continued.

year ended 30/6/

 , must make a return. Every unmarried person without dependants, who received 6s. a day or over continuously during the year ended 30/6/   , or whose total income amounted to £100 or over during such period, must make a return. Any benefits in addition to or as part of salary, wages, &c., such as board or board and lodging, or any bonus or commission, are income, and their value to the recipient must be stated by him. If he lives in his own house, or occupies a house rent free, he must include 5 per cent. of the capital value of it as income. He may deduct the amount he spent in repairs, rates, insurance, &c., and interest on mortgage of the property.

Value of Portion of Trade Premises used for Domestic Purposes.—All persons using their own land, and houses for residence or for residential and business purposes combined must ascertain the actual capital value of such portion as is not used for business; and must return under item 23 as income 5 per cent. on the capital value of the portion used for residence. Generally, the proportion of the rent paid which should be included as income under this head is—(a) for storekeepers, grocers, and other similar trades, one-half; (b) hotelkeepers and lodging house-keepers, one-fourth; and (c) doctors, chemists, &c., two-thirds.

Where these proportions seem to the taxpayer too high, he should state what amount he considers a fair proportion, and the grounds upon which he arrives at such amount.

Farmers and Graziers.

Income earned in Pastoral and Agricultural Industries, such as farming, grazing, dairying, vine-growing, fruit-growing, or market gardening, should be returned in Part D.

General.

Professional Income.—This should be stated in “Income from Personal Exertion,” Part A, and should also be shown in detail by a separate statement. Doctors, barristers, solicitors, &c., may show the actual receipts and allowable disbursements in year ended 30/6/  .

Income earned in a Trade or Business.—Trade income should be returned as nearly as possible for the year ended 30th June, . Where accounts are not balanced on 30th June, the return must be based on the annual balance sheet and trading and profit and loss accounts, made up to the balancing date nearest thereto.

Benefits or Advantages.—Hotelkeepers, lodging-house-keepers, boarding-school proprietors, storekeepers, tradesmen, and others whose household expenses (including board of themselves and families and the maintenance of their domestic establishments) are not kept distinct from their trade or business expenditure should insert as income an amount equal to what the cost of their domestic establishment would be if maintained separately.

The taxpayer must not use more than one Schedule, which is drawn up so as to comprise all classes of income.

The particulars of income should be fully stated. If there is not sufficient room in the Schedule, a list or statement should be attached.

Allowable Deductions.

The allowable deductions are shown under the headings A, B, C, and D. Those expenses which the Act disallows as deductions are set out hereunder.

In case of any doubt the facts should be laid before the Deputy Commissioner and a decision as to the allowance of the items should be asked for.

Expenses not allowed as Deductions.

Additions or alterations to trade or other income-earning premises.

Additions to plant and machinery.

Any domestic expenditure, or the cost of living of members of his family not exclusively engaged in the business or who are engaged in domestic duties.

Cost of sewerage connections.

Depreciation of buildings, leaseholds, or land and improvements.

Depreciation of good-will.

Doubtful debts.

Expenditure incurred to protect income.

Federal Income Tax.

Insurance on furniture or personal effects.

Interest not actually paid in year ended 30/6/

  .

Interest paid on money which is not used to produce income.

Losses by fire, accident, robbery, or embezzlement.

Losses incurred in any previous year.

Losses not connected with or arising out of the taxpayer's, trade or business.

Money paid to the Crown on selections.

Payments from husband to wife or from wife to husband.

Premiums on insurances effected outside Australia.

Purchase of good-will.

Rent of private residence.

Rent of trade premises not actually paid in year ended 30/6/

  .

Repayment of moneys borrowed, including amounts of principal included in annual payments on loans.

The cost of maintenance of a taxpayer, his wife, or his domestic establishment.

The cost of travelling between the taxpayer’s private residence and place of business.

Wages not actually paid.

Wages to persons not employed in the trade or business.

General Directions.

Name of person to be assessed is the name of the person particulars of whose income is given in the Return, and the occupation should be descriptive of his own occupation or of his representative occupation, as the case may be. For example, if the income be that of a “trust estate,” the trustee must insert his own as “the name of the person to be assessed,” and give as his occupation “trustee of the estate of A.B. &c.”; or if agent for an absentee, he must insert his own name and state his occupation as “agent for A.B., of London, &c.” If the return is a return of the income of a partnership, the occupation should be given as “senior partner in the firm, &c.”

A copy of the return, as well as all books, accounts, memoranda, and all data from which the return is made up, should be preserved for future reference in the event of further information being subsequently required by the Deputy Commissioner.

Special Instructions.

Wherever deductions are claimed on account of any item in respect of which the form calls for a detailed list, such list should be attached to the return.

Separate lists are required of—

1. Charitable contributions and gifts to war funds, and verification thereof, such as receipts, cheque butts, &c., must also be attached.

2. Calls in companies.

3. Fire and burglary insurance premiums.

4. Children. (Statement 3, page.)

5. Rates and taxes.

6. Repairs.

7. Depreciation (items, values, and rates.)

8. Bad debts. Dates incurred and amounts.

9. Contributions to benefit funds.

10. Other business expenses.

Returns should be lodged not later than 31/8/ 

Second Form.

Prepay Postage. Send this Return to the Federal Commissioner of Taxation, Melbourne (or Deputy Federal Commissioner of Taxation in the Capital City of the State). FEDERAL INCOME TAX. Commonwealthof Australia. File No.

Income Tax Assessment Act 1922.

COMPANIES DERIVING INCOME IN

Return of Income derived from all sources in during the period 1st July , to 30th June, ,* or to .

* If approval has been obtained to submit return for any other period specify the period.

 

Name of Company or Principal

Name in full of Public Officer or Agent

Nature of Business

Postal Address for service of Notices

 

Gross income—as per attached audited Profit and Loss Account	£
Deductions...............................................................................................................	£
Net profit for the year..........................................................................	£
Reconciliation Statement.
Net Profit—as per Profit and Loss Account......................................................	£
Add items not allowable as deductions
Taxable Income...................................................................................	£
Less amount distributed to shareholders..........................................	£
Net taxable Income.............................................................................	£

Return must be accompanied by audited Trading Account, Profit and Loss Account, Appropriation Account, Balance-sheet, and Lists in support of the following deductions:—

Salaries and wages, rent, interest, insurances, donations, bad debts (showing dates incurred and dates written off), depreciation (giving basis on which depreciation is claimed), and any deductions covered by general headings.

A list of resident shareholders showing names and addresses and amounts paid to each during the period 1st July, , to 30th June, , must also be furnished, together with a statement showing the total dividends paid to absentee shareholders, and interest paid or credited to absentee depositors and debenture-holders out of the income shown in this return.

 

Declaration.

I, the person making this Return, declare that the particulars shown therein and also those stated in the Forms, Balance-sheets, Documents, and Lists herewith, are true in every particular, and disclose without reservation or exception a true statement of all income liable to taxation derived from all sources in by

during the year ended

Dated this day of

Usual Signature

Third Form.

Commonwealth of Australia.

File No.

Income Tax Assessment Act 1922.

Assessment No.

NOTICE OF OBJECTION TO ASSESSMENT.

I hereby object to the assessment in respect of Income Tax for the financial year made by the Commissioner or Deputy Commissioner of Taxation, and issued to me by notice of assessment dated , and claim that the assessment of my taxable income should be based on the following amounts:—

Income from personal exertion.......................................................................................		£
Income from property......................................................................................................		£
£
Less allowable deductions........................................................................... £
Less deductions under Sec. 19.................................................................... £		£
Taxable Income	……………	£

My reasons for claiming that the assessment should be on the figures stated above are—

   

(Signature)—

(Address)—

(Date)—

TABLE I.

 

ANNUAL SUM WHICH ACCUMULATED AT COMPOUND INTEREST WILL AMOUNT TO £1 AT THE END OF ANY NUMBER OF YEARS FROM 1 TO 100.

(Annual Investment Assumed to be Spread Uniformly over Year.)

Years.		5 per cent.	Years.		5 per cent.	Years.		5 per cent.
£	£	£
1	..........	·97580	36	...........	·01018	71	...........	·00158
2	..........	·47600	37	...........	·00960	72	...........	·00150
3	..........	·30953	38	............	·00906	73	...........	·00143
4	..........	·22640	39	............	·00855	74	...........	·00136
5	..........	·17660	40	............	·00808	75	...........	·00129
6	..........	·14346	41	............	·00763	76	...........	·00123
7	..........	·11985	42	............	·00722	77	...........	·00117
8	..........	·10219	43	............	·00682	78	...........	·00111
9	..........	·08850	44	............	·00646	79	...........	·00106
10	..........	·07758	45	............	·00611	80	...........	·00100
11	..........	·06869	46	............	·00578	81	...........	·00096
12	..........	·06130	47	............	·00548	82	...........	·00091
13	..........	·05509	48	............	·00519	83	...........	·00087
14	..........	·04979	49	............	·00492	84	...........	·00082
15	..........	·04522	50	............	·00466	85	...........	·00078
16	..........	·04125	51	............	·00442	86	...........	·00075
17	..........	·03776	52	............	·00419	87	...........	·00071
18	..........	·03469	53	............	·00397	88	...........	·00068
19	..........	·03195	54	............	·00377	89	...........	·00064
20	..........	·02951	55	............	·00358	90	...........	·00061
21	..........	·02732	56	............	·00340	91	...........	·00058
22	..........	·02534	57	............	·00322	92	...........	·00055
23	..........	·02355	58	............	·00306	93	...........	·00053
24	..........	·02193	59	............	·00291	94	...........	·00050
25	..........	·02045	60	............	·00276	95	...........	·00048
26	..........	·01909	61	............	·00262	96	...........	·00046
27	..........	·01785	62	............	·00249	97	...........	·00043
28	..........	·01671	63	............	·00237	98	...........	·00041
29	..........	·01566	64	............	·00225	99	...........	·00039
30	..........	·01469	65	............	·00214	100	...........	·00037
31	..........	·01379	66	............	·00203
32	..........	·01296	67	............	·00193
33	..........	·01219	68	............	·00183
34	..........	·01147	69	............	·00174
35	..........	·01080	70	............	·00166

 

TABLE II.

 

AMOUNT OF £1 PER ANNUM.

(i.e., the sum to which an annual payment of £1 accumulated at compound interest will amount at the end of any number of years from 1 to 50.)

Years.		5 per cent.	Years.		5 per cent.	Years.		5 per cent.
£	£	£
1	.....	1·	18	.....	28·13238467	35	...

90·32030735
2	.....	2·05	19	.....	30·53900391	36	...	95·83632272
3	.....	3·1525	20	.....	33·06595410	37	...	101·62813886
4	.....	4·310125	21	.....	35·71925181	38	...	107·70954580
5	.....	5·52563125	22	.....	38·50521440	39	...	114·09502309
6	.....	6·80191281	23	.....	41·43047512	40	...	120·79977424
7	.....	8·14200845	24	.....	44·50199887	41	...	127·83976295
8	.....	9·54910888	25	.....	47·72709882	42	...	135·23175110
9	.....	11·02656432	26	.....	51·11345376	43	...	142·99333866
10	.....	12·57789254	27	.....	54·66912645	44	...	151·14300559
11	.....	14·20678716	28	.....	58·40258277	45	...	159·70015587
12	.....	15·91712652	29	.....	62·32271191	46	...	168·68516366
13	.....	17·71298285	30	.....	66·43884750	47	...	178·11942185
14	.....	19·59863199	31	.....	70·76078988	48	...	188·02539294
15	.....	21·57856359	32	.....	75·29882937	49	...	198·42666259
16	.....	23·65749177	33	.....	80·06377084	50	...	209·34799572
17	.....	25·84036636	34	.....	85·06695938

 

TABLE III.

 

FAIR AVERAGE VALUE OF LIVE STOCK (OTHER THAN STUD STOCK).

—	Sheep.			Cattle.			Horses.			Pigs.
£	s.	d.	£	s.	d.	£	s.	d.	£	s.	d.
Minimum Value........................	0	2	6	0	10	0	0	15	0	0	2	6
Maximum Value.......................	0	10	0	0	40	0	0	60	0	0	10	0

 

Printed and Published for the Government of the Commonwealth of Australia by Albert J. Mullett, Government Printer for the State of Victoria.