WAR-TIME
(COMPANY) TAX.
No. 57 of 1941.
An Act
to amend the War-time (Company) TaxAct 1940.
[Assented
to 3rd December, 1941.]
BE
it enacted by the King’s Most Excellent Majesty, the Senate, and the House of
Representatives of the Commonwealth of Australia, as follows:—
Short
title and citation.
1.—(1.) This Act may be cited as the War-time (Company) Tax Act 1941.
(2.) The War-time
(Company) Tax Act 1940 is in this Act referred to as the Principal Act.
(3.) The Principal Act., as amended by this Act,
may be cited as the War-time (Company) Tax Act 1940–1941.
Commencement.
2. This Act shall come into operation on the day on which it receives
the Royal Assent.
Rates
of tax.
3. Section five of the Principal Act is amended by omitting from
paragraph (a) of sub-section (1.) the
word “four” and inserting in its stead the word “six”.
4. The Schedule to the Principal Act is repealed and the following Schedule
inserted in its stead:—
“THE
SCHEDULE.
Column 1. | Column 2. | Column 3. | Column 4. |
— | Percentage of portion of excess to capital employed. | Rate of tax on portion of excess shown in Column 2. | Rate of tax on remainder of excess. |
per
centum. | per centum. | per
centum. |
Where
the excess is more than one per centum of the capital employed but not more
than two per centum..........
| 1 | 6 | 12 |
Where
the excess is more than two per centum of the capital employed but not more
than three per centum.......
| 2 | 9 | 18 |
Where
the excess is more than three per centum of the capital employed but not more
than four per centum.........
| 3 | 12 | 24 |
Where
the excess is more than four per centum of the capital employed but not more
than five per centum.........
| 4 | 15 | 30 |
Where
the excess is more than five per centum of the capital employed but not more
than six per centum...........
| 5 | 18 | 36 |
Where
the excess is more than six per centum of the capital employed but not more
than seven per centum......
| 6 | 21 | 42 |
Where
the excess is more than seven per centum of the capital employed but not more
than eight per centum.......
| 7 | 24 | 48 |
Where
the excess is more than eight per centum of the capital employed but not more
than nine per centum.........
| 8 | 27 | 54 |
Where
the excess is more than nine per centum of the capital employed but not more
than ten per centum...........
| 9 | 30 | 60 |
Where
the excess is more than ten per centum of the capital employed but not more
than eleven per centum.....
| 10 | 33 | 66 |
Where
the excess is more than eleven per centum of the capital employed but not
more than twelve per centum....
| 11 | 36 | 72 |
Where
the excess is more than twelve per centum of the capital employed.......................................................................
| 12 | 39 | 78” |