INCOME TAX (No. 2).
No. 48 of 1915.
An Act to amend the Income Tax Act 1915.
[Assented to 15th November, 1915.]
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 Income Tax Act (No. 2) 1915.
(2.) The Income Tax Act 1915, as amended by this Act, may be cited as the Income Tax Acts 1915.
Amendment of s. 4.
2. Section four of the Income Tax Act 1915 is amended by inserting after sub-section (2.) thereof the following sub-section :—
“(2a.) Where the income of a taxpayer consists of income from personal exertion and income from property the rates of the income tax shall be:
(a) In respect of the income from personal exertion—the rate that would have been applicable if the total taxable income of the taxpayer had been derived exclusively from personal exertion; and
(b) in respect of the income from property—the rate that would have been applicable if the total taxable income of the taxpayer had been derived from property.”