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Wednesday, 16 June 1926


Senator ELLIOTT (Victoria) . - I move -

That at the end of sub-clause ( 1 ) . the following provisos be added: - "Provided that where any such individual or member satisfies the Commissioner, Assistant Commissioner, or a Deputy Commissioner, that his military or naval duties required him to be in any" part of the field of operations in connexion with the war where there was danger to life as a result of the operations of enemy forces, and that he was, before the commencement of the said war, the owner of, or partner in, the business from which the aforesaid profits were derived, then notwithstanding anything contained in the War-time Profits Tax Assessment Act 1917- 1918, such person shall, and is hereby declared to be -

(a)   When the sole owner of the business exempt from liability to pay the war-time profits tax; and

(b)   When a partner in the business, entitled to a refund from the Commissioner of the part of the tax payable by the partnership which bears the same proportion to the tax payable by (the partnership as his interest in the profit bears to the total profits. "Provided further that where any such individual or member was not the owner of, or partner in, the saidbusiness before the commencement of the said war, it shall be necessary for such person to satisfy the Commissioner, Assistant Commissioner, or a Deputy Commissioner, that he did not become the owner of, or a partner in, that business with the direct or indirect object of reducing its liability to war-time profits tax."

I need not enlarge upon what I said on the second reading of the bill. The amendment is an attempt to remove anomalies that the Government admits exist, and, at the same time, to- introduce safeguards in order that persons not intended to benefit will not derive benefit from the exemptions.







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