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
--------
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.”
--------