STATUTORY RULES.

1922. No. 150.

REGULATIONS UNDER THE INCOME TAX ASSESSMENT ACT 1915-1921.

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 Income Tax Assessment Act 1915-1921, to come into operation forthwith.

Dated this eleventh day of October, 1922.

FORSTER,

Governor-General.

By His Excellency’s Command

S. M. BRUCE,

Treasurer.

Amendment of Income Tax Regulations 1917.

(Statutory Rules 1917, No. 280, as amended to this date.)

1.—(1.) Regulation 46 of the Income Tax Regulations is amended—

(a) by inserting in sub-regulation (2) thereof, after the words “natural increase”, the words “(except calves)”; and

(b) by adding at the end of sub-regulation (2), the words “, and in the case of calves, the cost price shall be deemed to be one-third of the fair average values set forth in second column of Table III. in the Schedule”.

(2.) The operation of this Regulation shall commence in relation to the calculation of the value of live stock on hand at the end of the period of income adopted for purposes of assessment of Income Tax for the financial year ending on the 30th day of June, 1922.

Printed and Published for the Government of the Commonwealth of Australia by Albert J. Mullett, Government Printer for the State of Victoria.