Copra - Producers And
p. 76 · Read in the full issue
Income Tax
ANEW provision in the Commonwealth Income Tax Assessment Act (No. 27, 1936—Section 23q.) gives substantial re lief to persons who live in Australia, and who own properties in Pacific territories “where the taxpayer is liable to pay royalties or export duty in respect of goods from the sale of which the income is derived.”
In the past, copra-producers in New Guinea, for example, received the current rate from exporters, less the amount of the export tax; but, owing to the word ing of the Act, it happened that it was the exporter and not the producer who was regarded as the payer of the export tax, and who got the benefit of exemption from Australian income tax. The pro ducer, if a resident of Australia, was taxed, and the exporter escaped. Under the new Act, the producer is exempt; and the exporter, presumably, is not.