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III524 December 1937 pp 2173-82III524 Dec 1937 p. 2173-82
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Start Date: 11/11/1998 End Date: 01/01/2999
1998111129990101
Document Type : SEC
Search Start Date: 36110
Index Entry : Income Tax Regulations\Part III - Liability to taxation
Search End Date: 401404
temp:Income+Tax+Regulations+-+8.pdf&41FF94AD2B9CC28148256CFD00080FFF
5. Live stock
(1) The option which may be exercised in pursuance of Section 24 of the Act, and the selection which may be made in pursuance of Section 26 of the Act, may be notified on the return of the taxpayer, or by a separate notification in writing signed by the taxpayer, which may be in accordance with Form 3 or Form 4 as the case may be.
(2) The separate notification shall be delivered to the Commissioner at the Taxation Department, Barrack Street, Perth ¾
(a) in the case of persons furnishing returns of income derived during the year ended the thirtieth day of June, 1937, or the accounting period, if any, adopted under the Act in lieu of that year, and in which returns the value of live stock is taken into account ¾ on or before the thirty-first day of January 1938, or within such extended time as the Commissioner allows;
(b) in the case of other persons ¾ on or before the date of the furnishing of the first return in which the value of live stock is taken into account, or within such extended time as the Commissioner allows for the exercise of that option or the making of that selection, as the case may be.
(3) For the purposes of Section 26 of the Act, the limits within which a taxpayer may select a cost price of natural increase of each class of live stock shall be as follows: ¾
| Minimum Value | Maximum Value |
| £ s d | £ s d |
Sheep . . . . . . . . . . . . . . . . . | 0 4 0 | 1 0 0 |
Cattle . . . . . . . . . . . . . . . . . | 1 0 0 | 10 0 0 |
Horses . . . . . . . . . . . . . . . . | 1 0 0 | 10 0 0 |
Pigs . . . . . . . . . . . . . . . . . . | 0 5 0 | 1 0 0 |
[Regulation 5 amended by Gazette 23 August 1940 p.1540.]