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\jcompress\viewkind4\viewscale100\pgbrdrhead\pgbrdrfoot\nolnhtadjtbl\rsidroot9646748 \fet0\sectd \linex0\sectdefaultcl\sftnbj {\*\pnseclvl1\pnucrm\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl2\pnucltr\pnstart1\pnindent720\pnhang {\pntxta .}} {\*\pnseclvl3\pndec\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl4\pnlcltr\pnstart1\pnindent720\pnhang {\pntxta )}}{\*\pnseclvl5\pndec\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl6\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (} {\pntxta )}}{\*\pnseclvl7\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl8\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl9\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}\pard\plain \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12464456 \fs20\lang2057\langfe5129\cgrid\langnp2057\langfenp5129 {\b\fs24\insrsid4092871\charrsid12464456 COOK ISLANDS}{\b\fs24\insrsid4092871 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid800710 {\b\fs24\insrsid12464456 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12464456 {\b\fs24\insrsid12464456 INCOME TAX AMENDMENT ACT}{\b\fs24\insrsid5323710 }{\b\fs24\insrsid12464456 1989-1990}{\b\fs24\insrsid12464456\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12464456 {\fs24\insrsid12464456\charrsid12464456 ANALYSIS}{\fs24\insrsid5734323 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid800710 {\fs24\insrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12464456 {\fs24\insrsid12464456\charrsid12464456 Title}{\fs24\insrsid12464456 \par \par 1. Short Title \par 2. Application \par 3. Interpretation \par 4. Taxation of income from more than one source \par 5. Special exemptions for dependents of taxpayer \par 6. Rebate for expenditure on energy conservation \par 7. Incomes wholly exempt from taxation \par 8. Concessions for farming and fishing industries \par 9. Expenditure or loss exclusively incurred in the production of assessable income \par 10. Losses incurred may be set off against future profits \par 11. Taxation of salary or wages earned outside the Cook Islands \par 12. Mode of recovery of unpaid tax \par 13. Penalty for failure to furnish returns, etc \par 14. Taxpayer identification number \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12464456 {\fs24\insrsid12464456 ----------------------------------------- \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12464456 {\fs24\insrsid12464456 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12464456 {\b\fs24\insrsid5734323\charrsid12464456 1989}{\b\fs24\insrsid12464456\charrsid12464456 -}{\b\fs24\insrsid5734323\charrsid12464456 90, No. 37 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid800710 {\fs24\ul\insrsid5734323\charrsid12464456 An Act to}{\fs24\ul\insrsid4092871\charrsid12464456 }{\fs24\ul\insrsid5734323\charrsid12464456 amend the Income Tax Act 1972 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12464456 {\fs24\insrsid5734323\charrsid12464456 (26 March 1990 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }{\b\fs24\insrsid4092871\charrsid5323710 BE IT ENACT}{\b\fs24\insrsid5734323\charrsid5323710 ED}{\fs24\insrsid5734323\charrsid12464456 by the Parliament of the Cook Islands in Session assembled, and by authority of the same, as follows: \par }{\fs24\insrsid4092871\charrsid12464456 \par }{\fs24\insrsid5734323\charrsid12464456 1. }{\fs24\ul\insrsid5734323\charrsid12464456 Short Title}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 This Act may be cite d as the Income Tax Amendment Act 1989}{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 1990 and shall be read together}{\fs24\insrsid4092871\charrsid12464456 with }{\fs24\insrsid5734323\charrsid12464456 and deemed part of the Income Tax Act 1972 }{\fs24\insrsid4092871\charrsid12464456 (hereinafter }{\fs24\insrsid5734323\charrsid12464456 referred to as }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 the principal Act}{ \fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 ). \par \par 2.}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\ul\insrsid5734323\charrsid12464456 A}{\fs24\ul\insrsid4092871\charrsid12464456 p}{\fs24\ul\insrsid5734323\charrsid12464456 plication}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{ \fs24\insrsid5734323\charrsid12464456 This Act }{\fs24\insrsid12464456\charrsid12464456 shall come }{\fs24\insrsid12464456 into force as }{\fs24\insrsid5734323\charrsid12464456 follows:}{\fs24\insrsid5734323 \par }{\fs24\insrsid12464456\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12464456 {\fs24\insrsid12464456\charrsid12464456 (a}{\fs24\insrsid12464456 ) }{\fs24\insrsid5734323\charrsid12464456 Sections 3, 4, 5, 6, 7, 8, 9, }{\fs24\insrsid12464456 10 and 11 shall }{\fs24\insrsid5734323\charrsid12464456 apply with respect to income derived during }{\fs24\insrsid881243 the income year which commenced on }{\fs24\insrsid5734323\charrsid12464456 1 January}{\fs24\insrsid12464456 }{ \fs24\insrsid4092871\charrsid12464456 1990, a}{\fs24\insrsid5734323\charrsid12464456 nd every subsequent income year;}{\fs24\insrsid4092871 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12464456 {\fs24\insrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12464456 {\fs24\insrsid12464456 (b) }{\fs24\insrsid5734323\charrsid12464456 Sections 12, 13 and 14}{\fs24\insrsid12464456 }{\fs24\insrsid5734323\charrsid12464456 shall be deemed to have come into force on}{\fs24\insrsid12464456 }{\fs24\insrsid5734323\charrsid12464456 1 January 1990. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }{\fs24\insrsid5734323\charrsid12464456 3. }{\fs24\ul\insrsid5734323\charrsid12464456 Interpretation}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 Section 2 of the principal Act is hereby amended by deleting from the definition of }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 sala}{\fs24\insrsid4092871\charrsid12464456 r}{\fs24\insrsid5734323\charrsid12464456 y or wages}{ \fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 the words }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 directors fees}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 (as inserted by section 3 of the Income Tax Amendment Act 1984). \par \par }{\fs24\insrsid4092871\charrsid12464456 4}{\fs24\insrsid5734323\charrsid12464456 . }{\fs24\ul\insrsid5734323\charrsid12464456 Taxation}{\fs24\ul\insrsid4092871\charrsid12464456 }{\fs24\ul\insrsid5734323\charrsid12464456 of income}{ \fs24\ul\insrsid4092871\charrsid12464456 }{\fs24\ul\insrsid5734323\charrsid12464456 from more than one source}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid4218708 (1) }{ \fs24\insrsid5734323\charrsid12464456 The principal Act is hereby amended by inserting after}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\insrsid5734323\charrsid12464456 sectio}{\fs24\insrsid4092871\charrsid12464456 n 41 the following new section:}{ \fs24\insrsid10712386 -}{\fs24\insrsid5734323\charrsid12464456 \par }{\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12464456 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 41A. }{\fs24\ul\insrsid5734323\charrsid800710 Taxation of income from more than one sou}{ \fs24\ul\insrsid4092871\charrsid800710 r}{\fs24\ul\insrsid5734323\charrsid800710 ce}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 (1) For t}{\fs24\insrsid4092871\charrsid12464456 h}{ \fs24\insrsid5734323\charrsid12464456 e purposes of assessing}{\fs24\insrsid4092871\charrsid12464456 i}{\fs24\insrsid5734323\charrsid12464456 nco}{\fs24\insrsid4092871\charrsid12464456 me tax}{\fs24\insrsid5734323\charrsid12464456 , every}{ \fs24\insrsid4092871\charrsid12464456 }{\fs24\insrsid5734323\charrsid12464456 taxpayer who derives income from more than one source shall be assessed and liable for income tax under this Act as if his income from each source was his only source of income }{\fs24\insrsid4092871\charrsid12464456 :}{\fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12464456 {\fs24\insrsid5734323\charrsid12464456 Provided that any rebates of income tax or special exemptions allowable to the taxpayer under this Act shall be used exclusively in determining the income tax liability on the taxpayer}{\fs24\insrsid14100358 '}{\fs24\insrsid5734323\charrsid12464456 s largest source of income, with the exception of t}{\fs24\insrsid881243 he rebate provided by section 46}{\fs24\insrsid5734323\charrsid12464456 B of this Act which may be allocated by the Collector over }{\fs24\insrsid4218708 any source or sources of income.}{\fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4218708 {\fs24\insrsid5734323\charrsid12464456 (2) For the purposes of this section }{\fs24\insrsid800710 -}{\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4218708 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Business income}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means income of the types deemed to be assessable income by sections 50(1)}{\fs24\insrsid881243 (a), (c), (e), (f) and (h}{\fs24\insrsid4092871\charrsid12464456 ), and section 51 of this Act; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4218708 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Employment income}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means income whic}{ \fs24\insrsid4092871\charrsid12464456 h}{\fs24\insrsid5734323\charrsid12464456 consists of salary, wages, allowances, overti}{\fs24\insrsid4092871\charrsid12464456 me pay, pension, annuity, direc}{\fs24\insrsid5734323\charrsid12464456 tors fees, bonuses, management fees, gratuity, retiring allowance, extra salary }{\fs24\insrsid12464456 or any emolument of any other k}{\fs24\insrsid5734323\charrsid12464456 ind paid or payable in relation to the taxpayer}{\fs24\insrsid14100358 '}{ \fs24\insrsid5734323\charrsid12464456 s employment; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4218708 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Investment income}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means interest and dividends; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4218708 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Rental income}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means income derived }{ \fs24\insrsid881243 from the rental of property, an}{\fs24\insrsid5734323\charrsid12464456 d includes income of the type deemed to be assessable income by section 50(1)(d) of this Act; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4218708 {\fs24\insrsid14100358 "}{\fs24\insrsid881243 S}{\fs24\insrsid5734323\charrsid12464456 ource means: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid4218708 {\fs24\insrsid5734323\charrsid12464456 (a) a payer of }{\fs24\insrsid4092871\charrsid12464456 employment income: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid4218708 {\fs24\insrsid5734323\charrsid12464456 Provided that all employment income derived from a source which is, or is substantially funded by, the Government of the Cook }{ \fs24\insrsid12464456\charrsid12464456 Islands}{\fs24\insrsid5734323\charrsid12464456 shall, with the exception of superannuation, be deemed to have been derived from one source; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid4218708 {\fs24\insrsid5734323\charrsid12464456 Pro}{\fs24\insrsid4092871\charrsid12464456 v}{\fs24\insrsid5734323\charrsid12464456 id}{\fs24\insrsid4092871\charrsid12464456 e}{ \fs24\insrsid5734323\charrsid12464456 d}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\insrsid5734323\charrsid12464456 also}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\insrsid5734323\charrsid12464456 that where a taxpayer derives employment income from more than one source by reason of a change of source, the taxpayer}{\fs24\insrsid14100358 '}{\fs24\insrsid5734323\charrsid12464456 s employment}{\fs24\insrsid4092871\charrsid12464456 }{ \fs24\insrsid5734323\charrsid12464456 inc}{\fs24\insrsid4092871\charrsid12464456 ome}{\fs24\insrsid5734323\charrsid12464456 shall be deemed to}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\insrsid5734323\charrsid12464456 have}{ \fs24\insrsid4092871\charrsid12464456 }{\fs24\insrsid5734323\charrsid12464456 been }{\fs24\insrsid4092871\charrsid12464456 d}{\fs24\insrsid5734323\charrsid12464456 e}{\fs24\insrsid4092871\charrsid12464456 r}{\fs24\insrsid5734323\charrsid12464456 ive}{ \fs24\insrsid4092871\charrsid12464456 d}{\fs24\insrsid5734323\charrsid12464456 from one so}{\fs24\insrsid4092871\charrsid12464456 ur}{\fs24\insrsid5734323\charrsid12464456 ce, }{\fs24\insrsid12464456 except in}{\fs24\insrsid5734323\charrsid12464456 the }{\fs24\insrsid4092871\charrsid12464456 c}{\fs24\insrsid5734323\charrsid12464456 ase of part}{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 time secondary employmen}{\fs24\insrsid4092871\charrsid12464456 t}{ \fs24\insrsid5734323\charrsid12464456 undertaken by a taxpayer having regular full}{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 time employment;}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\insrsid5734323\charrsid12464456 or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid4218708 {\fs24\insrsid5734323\charrsid12464456 (b) Business income; or}{\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid4218708 {\fs24\insrsid5734323\charrsid12464456 (c) Investment income; or}{\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218708 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li2160\ri0\widctlpar\faauto\adjustright\rin0\lin2160\itap0\pararsid4218708 {\fs24\insrsid5734323\charrsid12464456 (d) Rental income. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid5734323\charrsid12464456 (3) Where a taxpayer}{\fs24\insrsid881243 has beneficial ownership of 10%}{\fs24\insrsid5734323\charrsid12464456 or more of the shares in a company from which he derives income, all such companies in which he has such beneficial ownership of shares shall be deemed to be one source of income. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid5734323\charrsid12464456 (4) The provisions of this section shall not apply to any absentee, company or trustee.}{\fs24\insrsid14100358 "}{ \fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }{\fs24\insrsid5734323\charrsid12464456 (2) Paragraph 5 of the Second Schedule to the principal Act is hereby repealed. \par }{\fs24\insrsid4092871\charrsid12464456 \par }{\fs24\insrsid5734323\charrsid12464456 5.}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\ul\insrsid4092871\charrsid8459176 Special exemptions for dep}{\fs24\ul\insrsid5734323\charrsid8459176 endents of taxpayer}{\fs24\insrsid4092871\charrsid12464456 }{ \fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 Section 46A of the principal Act (as inserted by section 5 of }{\fs24\insrsid1470728 the Income Tax Amendment Act 198}{\fs24\insrsid5734323\charrsid12464456 0) is hereby amended as follows: \par }{\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid5734323\charrsid12464456 (a) By deleting the word }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 $3500}{\fs24\insrsid14100358 "}{ \fs24\insrsid5734323\charrsid12464456 in subsection (2) and substituting it with the word }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 $4000}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 ; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid5734323\charrsid12464456 (b) By deleting the word }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 $3500}{\fs24\insrsid14100358 "}{ \fs24\insrsid5734323\charrsid12464456 in subsection (3) and substituting it with the word }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 $4000}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 . \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par 6}{\fs24\insrsid5734323\charrsid12464456 . }{\fs24\ul\insrsid5734323\charrsid8459176 R}{\fs24\ul\insrsid4092871\charrsid8459176 ebate for expenditure ors energy}{\fs24\ul\insrsid5734323\charrsid8459176 conservation}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 The principal Act is hereby amended by inserting after section 46A (as inserted by section 5 of the Income Tax Amendment Act 1980) the following new section }{\fs24\insrsid12464456 -}{ \fs24\insrsid5734323\charrsid12464456 \par }{\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid14100358 "}{\fs24\insrsid800710 46}{\fs24\insrsid5734323\charrsid12464456 B}{\fs24\insrsid800710 .}{\fs24\insrsid5734323\charrsid12464456 }{ \fs24\ul\insrsid5734323\charrsid800710 Rebate for expenditure on en}{\fs24\ul\insrsid4092871\charrsid800710 e}{\fs24\ul\insrsid5734323\charrsid800710 r}{\fs24\ul\insrsid4092871\charrsid800710 g}{\fs24\ul\insrsid5734323\charrsid800710 y c}{ \fs24\ul\insrsid4092871\charrsid800710 o}{\fs24\ul\insrsid5734323\charrsid800710 nservation}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 (1) Subject to this section, where the C ollector is satisfied that a taxpayer has, in any income year, incurred energy conservation expenditure, he may allow to the taxpayer a rebate of income tax for that income year of an amount equal to 50 cents for each complete $1 of the amount of that ene rgy conservation expenditure: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14100358 {\fs24\insrsid5734323\charrsid12464456 Provided that where the rebate allowable under this section exceeds the tax that would otherwise be payable by the taxpayer, the unused portion of rebate shall not be available to be carried forward to a subsequent income year , or to be used by another taxpayer. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14100358 {\fs24\insrsid5734323\charrsid12464456 (2) For the purposes of this section: \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14100358 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14100358 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Energy conservation expenditure}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means the cost, including installation, of a new energy saving device and any addition thereto, which is installed and used in connection with a private residential dwelling in the Cook Islands; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14100358 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14100358 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Energy saving device}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means a solar water heating system or a photovoltaic panel energy system, or such other device as may be notified from time to time by the Collector in the Gazette;}{\fs24\insrsid4092871 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14100358 {\fs24\insrsid14100358\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14100358 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 New}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means not having previously been used. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14100358 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14100358 {\fs24\insrsid5734323\charrsid12464456 (3) The provisions of this section shall not apply to any absentee, company, partnership, or trustee.}{\fs24\insrsid14100358 "}{ \fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }{\fs24\insrsid5734323\charrsid12464456 7. }{\fs24\ul\insrsid5734323\charrsid8459176 Incomes}{\fs24\ul\insrsid4092871\charrsid8459176 wholly exempt from taxation}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\insrsid12464456 -}{ \fs24\insrsid4092871\charrsid12464456 T}{\fs24\insrsid5734323\charrsid12464456 he principal Act is hereby amended as follows:}{\fs24\insrsid12464456 -}{\fs24\insrsid4092871\charrsid12464456 \par \par }{\fs24\insrsid5734323\charrsid12464456 (1) By deleting paragraph (p) of subsection (1) of section 48 and replacing it with the following paragraph}{\fs24\insrsid4092871\charrsid12464456 :}{\fs24\insrsid5734323\charrsid12464456 \par }{\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 (p) Income of the South Pacific Commission, regional or international organisations and the income, so far as it is derived from the funds of those organisations, of persons, who are not ordinarily resident in the Coo}{\fs24\insrsid4218708 k}{ \fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid4218708 I}{\fs24\insrsid5734323\charrsid12464456 slands, employed by those organisations.}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }{\fs24\insrsid5734323\charrsid12464456 (2) By inserting in paragraph (r) of subsection (1) of section 48, after the word }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 persons}{\fs24\insrsid14100358 "}{ \fs24\insrsid5734323\charrsid12464456 the words, }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 who are not ordinarily resident in the Cook Islands}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 . \par }{\fs24\insrsid4092871\charrsid12464456 \par }{\fs24\insrsid5734323\charrsid12464456 (3) By deleting paragraph (x) of subsection (1) of section 48 (as inserted by section 10 of the Income Tax Amendment Act 1984) and replacing it with the following paragraph: \par }{\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 (x) Income derived pursuant to a contract o}{\fs24\insrsid1470728 f}{ \fs24\insrsid5734323\charrsid12464456 employment between a foreign government, a regional or international organisation, or an employee, and the Government under a supplementation or similar scheme}{\fs24\insrsid14100358 "}{ \fs24\insrsid5734323\charrsid12464456 . \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }{\fs24\insrsid5734323\charrsid12464456 8. }{\fs24\ul\insrsid5734323\charrsid8459176 Conc}{\fs24\ul\insrsid4092871\charrsid8459176 essions for farming and fishing}{\fs24\ul\insrsid5734323\charrsid8459176 industries}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 The principal Act is hereby amended by inserting, after section 49A (as inserted by section 6 of the Income Tax Amendment Act 1980), the following new section: \par }{\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 49B}{\fs24\insrsid14100358 .}{\fs24\insrsid5734323\charrsid12464456 }{ \fs24\ul\insrsid5734323\charrsid14100358 Concessions for farming and fishing industries}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 (1) Income derived by a producer from direct sales of produce shall be deemed not to be assessable income and shall be exempt from income tax. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14100358 {\fs24\insrsid5734323\charrsid12464456 (2) For the purposes of this section }{\fs24\insrsid12464456 -}{\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14100358 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14100358 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Direct sales}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means sales of produce made by a producer, such produce having been grown, raised or caught, as the}{\fs24\insrsid4092871\charrsid12464456 case may be, by that producer; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14100358 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14100358 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Farming}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means the business of growing or raising agricultural, animal or poultry products; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14100358 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14100358 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Fishing}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means the business of catching fish or shellfish; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14100358 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14100358 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Produce}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means the primary products of farming or fishing, in their natural state, or butchered, or dressed for human or animal consumption; \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid14100358 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid14100358 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Producer}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 means any person engaged in the business of farming or in the business of fishing, with the exception of any foreign enterprise required to register under the Development}{\fs24\insrsid4218708 }{\fs24\insrsid1470728 Investment Act 1977, or any enactment in substitution thereof.}{\fs24\insrsid4218708 "}{\fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8459176 {\fs24\insrsid4092871\charrsid12464456 9.}{\fs24\insrsid8459176\charrsid8459176 }{\fs24\ul\insrsid8459176\charrsid14100358 Expenditure or loss exclusively }{ \fs24\ul\insrsid4092871\charrsid14100358 incurred in the production}{\fs24\ul\insrsid8459176\charrsid14100358 of assessable income}{\fs24\insrsid8459176\charrsid12464456 }{\fs24\insrsid8459176 -}{\fs24\insrsid8459176\charrsid12464456 (1)}{ \fs24\insrsid8459176\charrsid8459176 }{\fs24\insrsid8459176\charrsid12464456 Section 63 of the principal Act is hereby amended as follows}{\fs24\insrsid8459176 ;}{\fs24\insrsid1470728 }{\fs24\insrsid8459176\charrsid12464456 by deleting subsection (1) and substituting it with the following new subsection: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid14100358 "}{\fs24\insrsid8459176 (1) In calculating the assessable income of any person deriving income from one or more source, any expenditure or loss exclusively incurred in the production of the assessable income for any income year may, exc ept as otherwise provided in this Act, be deducted from the total income derived by the taxpayer from that source for that income year.}{\fs24\insrsid14100358 "}{\fs24\insrsid4092871 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }{\fs24\insrsid5734323\charrsid12464456 (2) By deleting subsection (2) }{\fs24\insrsid4092871\charrsid12464456 and replacing it }{\fs24\insrsid5734323\charrsid12464456 with the following new subsection: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 (2) For the purposes of this section, }{\fs24\insrsid4092871\charrsid12464456 the }{ \fs24\insrsid5734323\charrsid12464456 term }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 source}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 shall have the same meaning as }{\fs24\insrsid4092871\charrsid12464456 is } {\fs24\insrsid5734323\charrsid12464456 assigned to it in section 41A of this Act.}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid4092871\charrsid12464456 \par }{\fs24\insrsid5734323\charrsid12464456 10.}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\ul\insrsid5734323\charrsid8459176 Losses}{\fs24\ul\insrsid4092871\charrsid8459176 }{\fs24\ul\insrsid5734323\charrsid8459176 incurred}{ \fs24\ul\insrsid4092871\charrsid8459176 }{\fs24\ul\insrsid8459176\charrsid8459176 may}{\fs24\ul\insrsid5734323\charrsid8459176 be set off}{\fs24\ul\insrsid4092871\charrsid8459176 }{\fs24\ul\insrsid5734323\charrsid8459176 against}{ \fs24\ul\insrsid4092871\charrsid8459176 }{\fs24\ul\insrsid5734323\charrsid8459176 future profits}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 Subsection (2) of section 74 of the principal Act is hereby amended as follows: \par \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid5333858 {\fs24\insrsid5734323\charrsid12464456 (1) By inserting the words }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 from that source}{\fs24\insrsid14100358 "}{ \fs24\insrsid5734323\charrsid12464456 after the word }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 income}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 and before the word }{\fs24\insrsid14100358 "}{ \fs24\insrsid5734323\charrsid12464456 for}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 . \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid5333858 {\fs24\insrsid5734323\charrsid12464456 (2) By inserting after the word }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 years}{\fs24\insrsid14100358 "}{ \fs24\insrsid5734323\charrsid12464456 the words }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 the term }{\fs24\insrsid14100358 '}{\fs24\insrsid5734323\charrsid12464456 source}{\fs24\insrsid14100358 '}{ \fs24\insrsid5734323\charrsid12464456 having the same meaning as is assigned to it in section 41A of this Act}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 . \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid5734323\charrsid12464456 \par 11. }{\fs24\ul\insrsid1470728 Taxation of salary or w}{\fs24\ul\insrsid5734323\charrsid8459176 ages earned outside the Cook Islands}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 The principal Act is hereby amended by inserting, after section 86, the following new section: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid14100358 {\fs24\insrsid14100358\charrsid14100358 "}{\fs24\insrsid8459176\charrsid14100358 86}{\fs24\insrsid5734323\charrsid14100358 A}{\fs24\insrsid14100358 .}{ \fs24\insrsid5734323\charrsid14100358 }{\fs24\ul\insrsid5734323\charrsid8459176 Taxation }{\fs24\ul\insrsid8459176\charrsid8459176 of }{\field\fldedit{\*\fldinst {\fs24\ul\insrsid8459176\charrsid8459176 HYPERLINK http://salary.cr }{ \fs24\ul\insrsid14697182\charrsid8459176 {\*\datafield 00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b2400000068007400740070003a002f002f00730061006c006100720079002e00630072002f000000002b00004361}}}{\fldrslt { \fs24\ul\insrsid8459176\charrsid8459176 salary or}}}{\fs24\ul\insrsid8459176\charrsid8459176 wages earned outside }{\fs24\ul\insrsid5734323\charrsid8459176 the Cook Islands}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{ \fs24\insrsid5734323\charrsid12464456 (1) Notwithstanding anything to the contrary in this Act, where a taxpayer earns income, being income from salary }{\fs24\insrsid8459176 or wages, in a }{\fs24\insrsid5734323\charrsid12464456 country or territory outside the }{\fs24\insrsid8459176 Cook Islands, and }{\fs24\insrsid5734323\charrsid12464456 that income has been subjected in }{\fs24\insrsid5333858 the country or }{\fs24\insrsid5734323\charrsid12464456 territory in which it was earned }{\fs24\insrsid8459176 to a tax which in }{\fs24\insrsid5734323\charrsid12464456 the opinion of the Collector is }{\fs24\insrsid8459176 substantially of }{\fs24\insrsid5734323\charrsid12464456 the same nature as income tax }{\fs24\insrsid8459176 under this Act, then }{\fs24\insrsid5734323\charrsid12464456 t}{\fs24\insrsid8459176 he Collector may determine, with the concurrence of the Minister, that that incom}{ \fs24\insrsid5734323\charrsid12464456 e }{\fs24\insrsid8459176 is not assessable income,}{\fs24\insrsid5734323\charrsid12464456 and will not be subjected }{\fs24\insrsid8459176 to any further }{\fs24\insrsid5734323\charrsid12464456 taxation under this Act in the Cook Islands. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid10712386 {\fs24\insrsid5734323\charrsid12464456 (2) For the purposes of this Section the term }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 salary or wages}{ \fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 shall be}{\fs24\insrsid8459176 }{\fs24\insrsid5734323\charrsid12464456 taken to mean income from an employment source only, being income which is derived from personal exertion.}{ \fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid5734323\charrsid12464456 \par 12.}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\ul\insrsid5734323\charrsid8459176 Mode of recovery of unpaid tax}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 Section 207 of the principal Act is hereby amended by the addition of the following proviso: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8459176 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Provided that where the Collector is satisfied that the unpaid tax is in fact irrecoverable, he may, with the concurrence of the Minister, write off the unpaid tax.}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid10712386 \par }{\fs24\insrsid5734323\charrsid12464456 13.}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\ul\insrsid5734323\charrsid8459176 Penalty for failure to furnish returns etc.}{\fs24\insrsid4092871\charrsid12464456 }{\fs24\insrsid12464456 -}{ \fs24\insrsid5734323\charrsid12464456 Subsection (2) of Section 221 of the principal Act is hereby amended as follows:}{\fs24\insrsid10712386 \par \par }{\fs24\insrsid5734323\charrsid12464456 (1) By deleting the word }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 $200}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 and substituting it with }{\fs24\insrsid14100358 "}{ \fs24\insrsid5734323\charrsid12464456 $500}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 . \par \par (2) By deleting the word }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 $5}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 and substituting it with }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 $100}{ \fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 . \par \par (3) By adding the following proviso: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6568345 {\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 Provided that if the person is a company that person shall be liable to a fine not exceeding $5000, and not less than $1000.}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid5734323\charrsid12464456 \par 14. }{\fs24\ul\insrsid5734323\charrsid6568345 Taxpayer identification number}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 The principal Act is hereby amended as follows: \par \par (1) By inserting, after section 231, the following new section: \par \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid6568345 {\fs24\insrsid14100358\charrsid10712386 "}{\fs24\insrsid5734323\charrsid10712386 231}{\fs24\insrsid6568345\charrsid10712386 A}{\fs24\insrsid5734323\charrsid10712386 . }{ \fs24\ul\insrsid5734323\charrsid6568345 Taxpayer identification number}{\fs24\insrsid5734323\charrsid12464456 }{\fs24\insrsid12464456 -}{\fs24\insrsid5734323\charrsid12464456 A taxpayer identification number may be allocated to a taxpayer by the Collector, such number to be used in all taxation matters concerning the taxpayer}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 . \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid5734323\charrsid12464456 \par (2) By inserting in subsection (2) of section 162, after the words }{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 as the Collector requires,}{\fs24\insrsid14100358 "}{\fs24\insrsid5333858 the words }{\fs24\insrsid14100358 "}{ \fs24\insrsid5333858 ,}{\fs24\insrsid5734323\charrsid12464456 including particulars.}{\fs24\insrsid14100358 "}{\fs24\insrsid5734323\charrsid12464456 \par }{\fs24\insrsid5734323 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6568345 {\fs24\insrsid6568345 ------------------------------------------------ \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4092871 {\fs24\insrsid6568345\charrsid12464456 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid6568345 {\fs24\insrsid5734323\charrsid12464456 This Act is administered in the Inland Revenue Department. \par }}