Commonwealth act

War-time Profits Tax Act 1917

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

34 of 1917

Collection

act

Plain English Summary

2/10 complexity

This Act levies a temporary windfall tax on businesses’ “war-time” profits—profits above normal pre‑war levels—aimed at curbing war profiteering. It sets a 50% rate for 1915–16 excess profits and 75% for subsequent wartime years.

It applies to Australian businesses that saw substantially higher wartime earnings and works together with the War‑time Profits Tax Assessment Act, which defines taxable profits and handles calculation, exemptions, and enforcement.

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Current sections

Direct links to the current provisions in War-time Profits Tax Act 1917.

War-time Profits Tax Act 1917

WAR-TIME PROFITS TAX.

No. 34 of 1917.

An Act to impose a Tax upon Profits.

[Assented to 22nd September, 1917.]

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

Short title.

This Act may be cited as the War-time Profits Tax Act 1917.

Duration.

This Act shall cease to have effect on a date to be fixed by Proclamation.

Incorporation.

The War-time Profits Tax Assessment Act 1917 shall be incorporated and read as one with this Act.

Imposition of war-time profits tax.

War-time profits tax is imposed on the war-time profits liable to tax under the War-time Profits Tax Assessment Act 1917 arising from any business at the-following rates, namely:—

(a) on the war-time profits arising in the financial year ending at the thirtieth day of June One thousand nine hundred and sixteen—fifty per centum of those profits ;

(b) on the war-time profits arising in each succeeding financial year—seventy-five per centum of those profits.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 War-time Profits Tax Act 1917