PAY-ROLL TAX ASSESSMENT.

No. 33 of 1963.

An Act to amend the Pay-roll Tax Assessment Act 1941-1962.

[Assented to 31st May, 1963.]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.)  This Act may be cited as the Pay-roll Tax Assessment Act 1963.

(2.)  The Pay-roll Tax Assessment Act 1941-1962 is in this Act referred to as the Principal Act.

(3.)  The Principal Act, as amended by this Act, may be cited as the Pay-roll Tax Assessment Act 1941-1963.

Commencement.

2.  This Act shall come into operation on the day on which it receives the Royal Assent.

Interpretation.

3.  Section sixteen a of the Principal Act is amended by omitting sub-paragraphs (i) and (ii) of paragraph (a) of the definition of “the gross receipts for the financial year” in sub-section (1.) and inserting in their stead the following sub-paragraphs:—

“(i) any amount that is income from property as defined by section six of that Act;

“(ii) any amount that is received by that employer by way of insurance or indemnity for or in respect of any loss or outgoing that is a deduction allowable under that Act, being an amount that is included in the assessable income of that employer by virtue of paragraph (j) of section twenty-six of that Act;

“(iii) any amount that is included in the assessable income of that employer by virtue of sub-section (2.) of section twenty-eight, sub-section (2.) or (2c.) of section fifty-nine, sub-section (3.) of section sixty-three, sub-section (10.) of section sixty-six, subsection (2.) of section seventy-two, sub-section (4.) of section seventy-three a, sub-section (9.) of section seventy-nine, sub-section (3.) of section one hundred and twenty-two b, sub-section (2.) of section one hundred and twenty-four, sub-section (2.) of section one hundred and twenty-four d, sub-section (2.) of section one hundred and twenty-four g or subsection (1.) or (2.) of section one hundred and twenty-four p of that Act; and

“(iv) any amounts that are included in the value of export sales in relation to that employer for another financial year,”.

Rebate of tax.

4.  Section sixteen c of the Principal Act is amended by omitting from sub-section (1.) the word “three” and inserting in its stead the word “seven”.

Application.

5.  The amendment made by section three of this Act applies in relation to rebates in respect of the tax imposed on wages paid or payable by an employer in respect of the financial year that began on the first day of July, One thousand nine hundred and sixty-two, and in respect of all subsequent financial years.