War-time Profits Tax Regulations (Amendment) (Cth)

Statutory Rules.

1922. No. 147.

Regulations under the War-time Profits Tax Assessment Act 1917-18.

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 War-time Profits Tax Assessment Act 1917-18, to come into operation forthwith.

DATED this FOURTH day of OCTOBER 1922.

(Sgd.) FORSTER

Governor-General.

By His Excellency’s Command.

S.M. BRUCE

Treasurer

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Amendment of War-time Profits Tax Regulations.

(Statutory Rules 1917, No 300, as amended to date).

Regulation 34 of the War-time Profits Tax

Regulations is amended by adding at the end thereof the following paragraph:-

“or (d) A member of a partnership is required by the terms of the partnership agreement to incur in his individual capacity expenditure, not being in the nature of capital expenditure, as a condition upon which he would be entitled to his share of the partnership profits.”

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