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Thursday, 1 July 1926

Motion (by Senator Crawford) proposed -

That the report be adopted.

Motion (by Senator Elliott) agreed to-

That the bill be recommitted for the purpose of reconsidering clause 4, and a proposed new clause 4a.

In committee(recommittal) :

Clause 4 -

Where the profits derived - . . .

(1)   . . . . ..

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 191 7-1918, such person shall, and is hereby declared to be -

(a)   when the sole owner of the business exempt from liability to pay the wartime 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 said business 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.







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