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Commonwealth legislation
This Act has been repealed and is no longer in force. It is retained for historical reference.
These 1923 regulations under the Income Tax Assessment Act 1922 set up Australia’s federal income tax administration: who must file (individuals over income thresholds, companies, partnerships, trusts, agents), which forms to use, where to lodge returns, and how payments and objections are handled. They define deductible income categories (personal exertion, property, business, farming), require special livestock valuation rules for farmers, and set reporting and evidentiary procedures affecting employers, companies, and taxpayers.
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Direct links to the current provisions in Income Tax Regulations 1922.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
STATUTORY RULES.
REGULATIONS UNDER THE INCOME TAX ASSESSMENT ACT 1922.
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 1922, to come into operation forthwith.
Dated this ninth day of February, 1923.
FORSTER,
Governor-General.
By His Excellency’s Command,
S. M. BRUCE,
Treasurer.
Part I.—Introduction.
Short Title.
Parts.
Part I.—Introductory.
Part II.—Returns.
Part III.—Payment of Income Tax.
Part IV.—Objections.
Part V.—Miscellaneous.
Definition
“Financial Year” means a financial year as fixed by the Act.
“The Act” means the Income Tax Assessment Act 1922.
Part II.—Returns.
Signature of returns.
Penalty: Twenty pounds.
Returns to be in First Form except as otherwise provided.
Returns by companies.
(a) A Balance-sheet and Profit and Loss Account supporting the particulars in the return;
(b) A statement showing—
(i) the names and addresses of all shareholders resident in Australia during the twelve months preceding the financial year for which income tax is payable; and
(ii) the amount (if any) of profits credited paid or distributed to each such shareholder during the twelve months preceding the financial year for which income tax is payable whether or not the period covered by return differs from such financial year;
C.18199.—Price 8d.
(c) A statement showing—
(i) how much of the assessable income derived by the company, during the period covered by the return, has been distributed (either during or after that period) to members or shareholders who are absentees; and
(ii) the amount paid or credited as interest to persons who are absentees in respect of debentures of the company used in Australia or on money lodged at interest in Australia with the company; and
(d) A statement showing—
(i) the total amount of the interest or dividends distributed by the company in respect of debentures or share stock payable to bearer, the names and addresses of the holders of which are not supplied to the Commissioner by the company;
(ii) the names and addresses of all holders of debentures or share stock payable to bearer which the company is in a position to furnish (whether absentees or residents in Australia), together with the amount of interest or dividend distributed to each of such persons during the twelve months preceding the financial year for which Income Tax is payable whether or not the period covered by the return differs from such financial year.
(e) (If the return is the first return furnished by the company) notice of the appointment of the Public Officer of the company.
Returns by partnerships.
Return to be made by senior active partner in Australia.
Separate returns to be furnished for partners.
(2) The return shall state the income derived respectively from—
(a) the partnership, and
(b) from other sources.
Agent to furnish separate returns for each principal.
Partnership return by agent.
Where agent not sole agent.
Trustees.
(2) When there is no trustee resident in Australia the return shall be made and furnished by the agent in Australia for the trustees.
Statement to be furnished by employers.
(a) the names and addresses of all persons employed by him during the period mentioned in the notice;
(b) the capacity in which each person was employed;
(c) the total amount paid to each person during that period; and
(d) the value of board residence or other allowance made to each person during that period.
(2) Each statement shall be furnished to the Commissioner at the place where under the Regulations the return of the employer is to be furnished, unless the Commissioner otherwise directs.
Special returns.
Substantially similar returns.
Balance-sheets to be furnished.
Lodging of returns.
(2) Returns of income derived from sources in Australia not wholly within any one State shall be furnished to the Commissioner at the head office of the Commissioner at Melbourne.
Source of dividends.
Lodging of returns when income partly of dividends.
Source of mortgage interest.
(2) If the mortgaged property is situated in more than one State the income shall be deemed to have been derived from sources within more than one State.
Territories.
(a) the territory of the Seat of Government shall be deemed to be in the State of New South Wales;
(b) the territory of Papua shall be deemed to be in the State of Queensland; and
(c) the Northern Territory of Australia shall be deemed to be a separate State.
When return deemed to be furnished.
(a) the proper form in accordance with these Regulations signed by the person making the return and containing a full true and complete statement of all matters and things required by the Act and Regulations, the Commissioner, and the form itself to be stated therein; and
(b) all balance-sheets, profit and loss accounts, statements, notices, and other documents which by the Act the Regulations or the Commissioner are required to accompany the return—
have at the place where under these Regulations the return is to be furnished, been received by an officer authorized by the Commissioner to receive returns.
Persons to take necessary steps for due lodging of return.
Address for service.
Notice of change of address.
Address deemed to be last known place of business or abode.
Failure to notify change of address.
Annotations on returns.
(2) The marks, figures and annotations shall be made in different coloured ink from the ink used in the return and shall be initialed by the officer making them.
Part III.—Payment of Income Tax.
How tax may be paid.
(a) by delivery of cash, bank notes, or cheques at the office of the Commissioner or of any Deputy Commissioner;
(b) by remitting the tax to the Commissioner or any Deputy Commissioner by bank draft, or cheque, or postal money order or postal note payable in the city to which the remittance is sent; or
(c) by depositing the net amount of the tax to the credit of the Commissioner or a Deputy Commissioner at any branch of the Commonwealth Bank of Australia.
Post office to be agent of remitter.
Payment by cheque.
Receipts to be issued.
Part payment of tax not to be accepted.
Postage to be prepaid.
Deficient postage.
Part IV.—Objections and Appeals.
Form of objection.
(2) The objection shall be lodged with the Commissioner at the address from which notice of the assessment objected to was issued.
Amount of deposit to accompany appeals.
(a) one per centum of the amount of the income which, in accordance with the Commissioner’s decision on the objection, is finally included in the calculation of the taxable income, where the subject in dispute is the inclusion of income in the assessment; or
(b) one per centum of the amount of the deduction which, in accordance with the Commissioner’s decision, is finally excluded from the calculation of the taxable income, where the subject in dispute is the exclusion of a deduction from the assessment; or
(c) one per centum of the sum of the amounts of the income and the deduction which, in accordance with the Commissioner’s decision, are finally included in or excluded from the calculation of the taxable income, as the case requires, where the subject in dispute is the inclusion of income in and the exclusion of a deduction from the assessment:
Provided that in any case the maximum amount of deposit shall not exceed Fifty pounds, and the minimum amount of deposit shall be not less than One pound.
Part V.—Miscellaneous.
Signatures.
Signature deemed to be duly signed.
(2) Judicial notice shall be taken of every such signature and of the fact that the person whose signature it purports to be holds or has held the office of Commissioner, Assistant Commissioner or Deputy Commissioner, as t
This is an opening excerpt, not the complete document.