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Wednesday, 20 May 1936


Senator A J McLACHLAN (SOUTH AUSTRALIA) (Postmaster-General) . - I move -

That the words "income tax upon tlhe interest," paragraph (a) be left out.

That at the end of paragraph (b) the following sub-paragraphs be inserted: -

(i)   where the person to whom the interest is paid or credited is a company - income tax upon that interest; and

(ii)   Where the person to whom the interest is paid or credited is not a company - income tax upon so much of that interest paid or credited in the year of income as exceeds Two hundred and fifty pounds.

These amendments have been found necessary as a corollary of the amendments moved by the Treasurer (Mr. Casey) in the House of Representatives to provide for a statutory exemption of £250 in respect of absentees.







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