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Tuesday, 29 September 1942

Mr CHIFLEY (Macquarie) (Treasurer) .- I move-

That the following new clause be inserted: - " 1 7a. Section one hundred and sixty of the principal act is amended by inserting in paragraph(g) of sub-section (2.), after the words ' year of income ' the words ' (not being gifts which are allowable as deductions under this act in the assessment of the taxpayer) '.".

This amending clause is complementary to the amendment which is being made by the insertion of a new clause contained in clause 12a of the bill. The effect of the amending clause is to withdraw the rebate of tax allowable to a company in respect of gifts, as the amounts of those gifts are being allowed as deductions from assessable income.

New clause agreed to.

Title agreed to.

Bill reported with amendments ; report - by leave - adopted.

Bill - by leave - read a third time.

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