Land Tax and Income Tax Act 1923 (WA)

No. 57.] Land Tax and _Income Tax. [1923.

LAND TAX AND INCOME TAX.

14° GEO. V., No. XXXVI.

No. 57 of 1923.

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

[Assented to 22nd December, 1923.]

MOST GRACIOUS SOVEREIGN,—

Preamble.

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

the Legislative Assembly of Western Australia in

Parliament assembled, towards raising the necessary sup-

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 :--

Short title. 1. This Act may be cited as the Land Tax and Income Tax

Act, 1923.

For the year ending the thirtieth day of June, One charged, levied, collected, and paid for the use of His Majesty, under and subject to the Land and Income Tax Assessment Act, 1907, the Land and Income Tax Assessment Act Amend- ment Act, 1917, the Land and Income Tax Assessment Act Amendment Act, 1918, the Land and Income Tax Assessment Amendment Act, 1921, and the Land and Income Tax Assess- ment Amendment Act, 1922, and in manner therein pre- scribed

Grant of land tax 2.

and Income tax for

the year ending	thousand nine hundred and twenty-four, there shall be (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:
30th Tune, 1924.

1923.] Land Tax awl Income Tax. [No. 57.

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

(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.

(1.) When the whole of the income chargeable of a taxpayer does not exceed £6,672, the rate of tax per pound sterling shall be 2007 pence where the income chargeable is £101 sterling, and shall increase uniformly with each in- crease of one pound sterling of the income chargeable by •007 of one penny.

Rafe of Income

tax.

3.

Such rate of tax may be calculated from the following

formula

R = rate of tax in pence per pound sterling.

I = income chargeable in pounds sterling.

R •007 (I — 100) }. pence.

When the whole of the income chargeable of a taxpayer exceeds £6,672, the rate of tax for every pound sterling thereof shall be forty-eight pence.

(2.) Where the "income chargeable" of any person is less than one hundred and one pounds the rate of tax shall be twopence in the pound.

4. The minimum amount payable by any taxpayer for land Minimum amount payab/e.

tax or income tax shall be two shillings and sixpence.

(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,	Income from
dividends.

5.

No. 57.] Land Tax and Income Tax. [1923.

1902, amounts during the year ending the 30th day of June, 1923, to such a sum as if it were all income chargeable would 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, 1923, in receipt of income derived from dividends within the mean- ing of the Dividend Duties Act, 1902, and such income, after all 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 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.

Super-tax of 16

per cent. 6. (1.) In addition to the income tax payable under sec-

tions two to five..(both inclusive) of this Act, there shall be

Amended by Act

No. 17 of 1923.

charged, levied, collected, and paid, for the use of His Maj- esty, under and subject to the Acts referred to in section two, on the income chargeable of all taxpayers, and on such in- comes as are liable to tax under section five, a super-tax equal to fifteen per centum of the amount of the income tax im- posed as aforesaid:

Provided that this subsection shall not apply to the in- come chargeable of any taxpayer whose income chargeable as defined by section two of the Land and Income Tax As- sessment Act, 1907, does not exceed two hundred and sixty- four pounds.

(2.) In addition to the land tax payable under the pre-

ceding provisions of this Act, there shall be charged, levied,

collected, and paid for the use of His Majesty, under and

1923.] Land Tax and Income Tax. [No. 57.

subject to the Acts referred to in section two, a super-tax equal to fifteen per cm-turn on the amount of the land tax imposed as aforesaid.

ot log 11)1907,

7.

Section fifty-six of the Land and Income Tax Assess-

ment Act, 1907, shall not apply to the land tax or income tax 417.

to be levied and collected for the financial year ending the

30th day of June, 1924.

ro

8.    Notwithstanding anything contained in this Act to Deduction.-

the contrary, the income tax to be charged, levied, collected, and paid under this Act for the financial year ending the 30th day of June, 1924, shall be charged, levied, collected, and paid on the income chargeable of the taxpayers, subject to the following deductions therefrom :-

(1) Any charge or expense other than capital ex- penditure incurred in Western Australia in the carrying on or conduct of any business, profession, trade, employment, or vocation.

(2) The travelling expenses incurred in producing or protecting income.

(3) Donations in money to Government or incorpor- ated institutions established for benevolent, charitable, scientific, or educational purposes.

(4) Moneys expended for educational scholarships

or bursaries.

(5) The sum of £10 for each child under the age of 16 years dependent upon the taxpayer.

(6) The sum of £50 as travelling expenses to every member of Parliament representing a Metropolitan, Metro- politan-Suburban, or West Province or an electoral district therein ; and a sum of £100 for every member of Parliament representing any other province or electoral district in lieu of expenses not exceeding £50 and £100 respectively.

The deductions and allowances set out in paragraphs (1) to (6) herein shall be in addition to and an extension of those prescribed by the Land and Income Tax Assess- ment Act, 1907.