Land Tax and Income Tax Act 1921 (WA)

1921.] Land and Income Tax, [No. 15.

LAND TAX AND INCOME TAX.

12° GEO. V., No. XV.

No. 15 of 1921.

AN ACT to impose a Land Tax and an Income Tax.

[Assented to 15th November, 1921.]

MOST GRACIOUS SOVEREIGN.

E, Your Majesty's most dutiful and loyal subjects, Preamble.

WParliament assembled, towards raising the necessary sup-the Legislative Assembly of Western Australia in

plies to defray Your Majesty's public expenses, and making an addition to the public revenue, have freely and volun- tarily resolved to give and grant unto Your Majesty the duties hereinafter mentioned, and do therefore most humbly beseech Your Majesty that it may be enacted: And be it therefore enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of Western Australia, in this present Parliament assembled, and by the authority of the same, as follows:-

1.    This Act may be cited as the Land Tax and Income Tax Sho tle.

Act, 1921.

2. For the year ending the thirtieth day of June, One Grant of land tae ,o,irdt.fteyom ener

thousand nine hundred and twenty-two, there shall be charged,

levied, collected, and paid for the use of His Majesty, under June 71922.

and subject to the Land and Income Tax Assessment Act,

1907, the Land and Income Tax Assessment Act Amendment Act, 1917, and the Land and Income Tax Assessment Act Amendment Act, 1918, and in manner therein prescribed=

(1) A land tax at the rate of one penny for every pound sterling of the unimproved value, as assessed by or under the said Acts, of all land chargeable with such tax:

Provided that the tax payable in respect of a pastoral lease shall be at the rate of one penny for every pound sterling-

(i) of a sum equal to twenty times the amount of

the annual rent reserved by the lease; or

No. 15.j Land and income Tax. [1921.

(ii) if the lessee has applied for a new lease under subsection four of section thirty of the Land Act Amendment Act, 1917, and such applica- tion has been approved, or if the lessee has, under the provisions of the Land Act Amend- ment Act, 1918, paid double rent in respect of his holding, of a sum equal to twenty times the amount of the annual rent payable or paid by the lessee; and

(2) An income tax on the income chargeable of all tax- payers at the rates prescribed by section three of this Act.

Rate of Income	3. (1.) When the whole of the income chargeable of a tax- payer does not exceed £7,766, the rate of tax per pound sterling shall be 2-006 pence where the income chargeable is £101 sterling, and shall increase uniformly with each increase of one pound sterling of the income chargeable by •006 of one penny.
Tax.

Such rate of tax may be caluculated from the following

formula :—

R =rate of tax in pence per pound sterling.

I= income chargeable in pounds sterling.

11=12 + -006 (I-100) l pence.

When the whole of the income chargeable of a taxpayer exceeds £7,766, the rate of tax for every pound sterling thereof shall be forty-eight pence.

(2.) Where the income chargeable from all sources of a taxpayer who is married or has a dependant amounts to £157 and no more, the tax payable by him shall not exceed ten shillings.

Minimum

amount 4, The minimum amount payable by any taxpayer for land

Payable.	tax or income tax shall be two shillings and sixpence.
Credit for pay-

ments under	5. Notwithstanding anything contained in the Land and
Dividend

Duties Act,	Income Tax Assessment Act, 1907, to the contrary
1902.
(1..) If the income chargeable of any person, together with income received by him in respect of the dividends of a company subject to duty under the Dividend Duties Act, 1902, amounts during the year ending the 30th day of June, 1921, to such a sum as if it were all income chargeable would

1921.] Land and Income Tax. [No. 15.

be liable to income tax at a rate exceeding one shilling and threepence for every pound sterling thereof, without regard to the super-tax imposed by section six, income tax shall be payable by such person on the amount of such aggregate in- come, but he shall receive credit for the duty payable under the Dividend Duties Act, 1902, in respect of his income de- rived from a company as aforesaid.

(2.) If any person not in receipt of any income charge- able is, during the year ending the 30th day of June, 1921, in receipt of income derived from dividends within the mean- ing of the Dividend Duties Act, 1902, and such income, after a 11 deductions allowed by law, exceeds the sum which under this Act would be chargeable as income at a higher rate of tax in the pound than one shilling and threepence, without regard to the super-tax imposed by section six, such person shall, notwithstanding any provision in any other Act to the contrary, be liable to pay income tax on such income, but such person shall receive credit for the amount of duty payable in respect of such income under the Dividend Duties Act, 1902:

Provided that in any assessment made Under this section

a deduction shall be allowed for interest incurred by the per-

son in the production of the income derived from dividends.

preceding provisions of this Act, there shall be charged, per cent. 6. (1.) In addition to the income tax payable under the Super-tax of 15

levied, collected, and paid, for the use of His Majesty under and subject to the Acts referred to in section two, on the income chargeable of all taxpayers, and on such incomes as

are liable to tax under section five, a super-tax equal to

fifteen per centmn of the amount of the income tax imposed

as aforesaid:

Provided that this subsection shall not apply to the in- come of any taxpayer whose income as defined by section two of the Land and Income Tax Assessment Act, 1907, without any deduction under paragraphs (3), (7), (10), or (12) of section thirty thereof, except in respect of rates and taxes of business premises occupied by the taxpayer, does not exceed two hundred and sixty-four pounds.

(2.) In addition to the land tax pa yable under the pre- ceding provisions of this Act, there shall h7 charged, levied, collected, and paid for the use of His Majesty, under and

subject to the Acts referred to in section two, a super-tax

equal to fifteen per centum on the amount of the land tax

imposed as aforesaid.