{\rtf1\ansi\ansicpg1252\uc1\deff0\stshfdbch0\stshfloch0\stshfhich0\stshfbi0\deflang1033\deflangfe1033{\fonttbl{\f0\froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times New Roman};} {\f448\froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times New Roman};}{\f449\froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times New Roman};}{\f451\froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times New Roman};} {\f452\froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times New Roman};}{\f453\froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times New Roman};}{\f454\froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times New Roman};} {\f455\froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}{\f456\froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}}{\colortbl;\red0\green0\blue0;\red0\green0\blue255;\red0\green255\blue255; \red0\green255\blue0;\red255\green0\blue255;\red255\green0\blue0;\red255\green255\blue0;\red255\green255\blue255;\red0\green0\blue128;\red0\green128\blue128;\red0\green128\blue0;\red128\green0\blue128;\red128\green0\blue0;\red128\green128\blue0; \red128\green128\blue128;\red192\green192\blue192;}{\stylesheet{\ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 \fs20\lang2057\langfe5129\cgrid\langnp2057\langfenp5129 \snext0 Normal;}{\*\cs10 \additive \ssemihidden Default Paragraph Font;}{\* \ts11\tsrowd\trftsWidthB3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\tscellwidthfts0\tsvertalt\tsbrdrt\tsbrdrl\tsbrdrb\tsbrdrr\tsbrdrdgl\tsbrdrdgr\tsbrdrh\tsbrdrv \ql \li0\ri0\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \fs20\lang1024\langfe1024\cgrid\langnp1024\langfenp1024 \snext11 \ssemihidden Normal Table;}}{\*\listtable{\list\listtemplateid1125668856\listhybrid{\listlevel\levelnfc4\levelnfcn4 \leveljc0\leveljcn0\levelfollow0\levelstartat1\levelspace0\levelindent0{\leveltext\leveltemplateid-1440340040\'03(\'00);}{\levelnumbers\'02;}\fbias0 \fi-360\li720\jclisttab\tx720\lin720 }{\listlevel\levelnfc4\levelnfcn4\leveljc0\leveljcn0\levelfollow0 \levelstartat1\levelspace0\levelindent0{\leveltext\leveltemplateid67698713\'02\'01.;}{\levelnumbers\'01;}\fi-360\li1440\jclisttab\tx1440\lin1440 }{\listlevel\levelnfc2\levelnfcn2\leveljc2\leveljcn2\levelfollow0\levelstartat1\levelspace0\levelindent0 {\leveltext\leveltemplateid67698715\'02\'02.;}{\levelnumbers\'01;}\fi-180\li2160\jclisttab\tx2160\lin2160 }{\listlevel\levelnfc0\levelnfcn0\leveljc0\leveljcn0\levelfollow0\levelstartat1\levelspace0\levelindent0{\leveltext\leveltemplateid67698703 \'02\'03.;}{\levelnumbers\'01;}\fi-360\li2880\jclisttab\tx2880\lin2880 }{\listlevel\levelnfc4\levelnfcn4\leveljc0\leveljcn0\levelfollow0\levelstartat1\levelspace0\levelindent0{\leveltext\leveltemplateid67698713\'02\'04.;}{\levelnumbers\'01;}\fi-360\li3600 \jclisttab\tx3600\lin3600 }{\listlevel\levelnfc2\levelnfcn2\leveljc2\leveljcn2\levelfollow0\levelstartat1\levelspace0\levelindent0{\leveltext\leveltemplateid67698715\'02\'05.;}{\levelnumbers\'01;}\fi-180\li4320\jclisttab\tx4320\lin4320 }{\listlevel \levelnfc0\levelnfcn0\leveljc0\leveljcn0\levelfollow0\levelstartat1\levelspace0\levelindent0{\leveltext\leveltemplateid67698703\'02\'06.;}{\levelnumbers\'01;}\fi-360\li5040\jclisttab\tx5040\lin5040 }{\listlevel\levelnfc4\levelnfcn4\leveljc0\leveljcn0 \levelfollow0\levelstartat1\levelspace0\levelindent0{\leveltext\leveltemplateid67698713\'02\'07.;}{\levelnumbers\'01;}\fi-360\li5760\jclisttab\tx5760\lin5760 }{\listlevel\levelnfc2\levelnfcn2\leveljc2\leveljcn2\levelfollow0\levelstartat1\levelspace0 \levelindent0{\leveltext\leveltemplateid67698715\'02\'08.;}{\levelnumbers\'01;}\fi-180\li6480\jclisttab\tx6480\lin6480 }{\listname ;}\listid579946599}}{\*\listoverridetable{\listoverride\listid579946599\listoverridecount0\ls1}}{\*\rsidtbl \rsid88680 \rsid91614\rsid1384517\rsid1403828\rsid4218364\rsid4415924\rsid4917994\rsid7213386\rsid8400824\rsid8466708\rsid8550855\rsid9446073\rsid11236416\rsid11433400\rsid11934300\rsid12811487\rsid13267606\rsid15428816}{\*\generator Microsoft Word 10.0.6764;}{\info {\author Emalus Campus}{\operator blake_r}{\creatim\yr2003\mo11\dy5\hr9\min15}{\revtim\yr2006\mo2\dy7\hr15\min23}{\version13}{\edmins28}{\nofpages3}{\nofwords690}{\nofchars3939}{\*\company USP}{\nofcharsws4620}{\vern16391}}\margl1440\margr1440 \widowctrl\ftnbj\aenddoc\noxlattoyen\expshrtn\noultrlspc\dntblnsbdb\nospaceforul\subfontbysize\hyphcaps0\formshade\horzdoc\dghspace120\dgvspace120\dghorigin1701\dgvorigin1984\dghshow0\dgvshow3 \jcompress\viewkind4\viewscale100\pgbrdrhead\pgbrdrfoot\nolnhtadjtbl\rsidroot8550855 \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\pararsid8400824 \fs20\lang2057\langfe5129\cgrid\langnp2057\langfenp5129 {\b\fs24\insrsid13267606\charrsid8400824 COOK ISLANDS}{\b\fs24\insrsid4917994 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid91614 {\b\fs24\insrsid8400824 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8400824 {\b\fs24\insrsid8400824 COOK ISLANDS INCOME TAX AMENDMENT ACT}{\b\fs24\insrsid11433400 }{\b\fs24\insrsid8400824 1990}{\b\fs24\insrsid8400824\charrsid8400824 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid4917994\charrsid8400824 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8400824 {\fs24\insrsid4917994\charrsid8400824 ANALYSIS}{\fs24\insrsid4917994 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid8400824 \par Title}{\fs24\insrsid8400824\charrsid8400824 \par }{\fs24\insrsid13267606\charrsid8400824 1. Short Title and commencement}{\fs24\insrsid13267606 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218364 {\fs24\insrsid4218364\charrsid8400824 2. Interpretation \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid4218364\charrsid8400824 3. Special Exemption f}{\fs24\insrsid4218364 or Life Insurance Contributions}{\fs24\insrsid4218364\charrsid8400824 \par }{\fs24\insrsid13267606\charrsid8400824 4. Incomes wholly exempt from taxation \par 5. }{\fs24\insrsid4218364 Rebate in respect of low income earners}{\fs24\insrsid13267606\charrsid8400824 \par 6. Rebate for expenditure on energy conservation \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218364 {\fs24\insrsid4218364 -----------------------------------------------}{\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid4218364 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218364 {\b\fs24\insrsid4917994\charrsid4218364 1990, No. 10 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid91614 {\fs24\ul\insrsid4917994\charrsid4218364 An Act to amend the }{\fs24\ul\insrsid13267606\charrsid4218364 I}{\fs24\ul\insrsid4917994\charrsid4218364 n}{ \fs24\ul\insrsid13267606\charrsid4218364 come Tax }{\fs24\ul\insrsid4917994\charrsid4218364 Act 1}{\fs24\ul\insrsid13267606\charrsid4218364 9}{\fs24\ul\insrsid4917994\charrsid4218364 72}{\fs24\ul\insrsid13267606\charrsid4218364 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218364 {\i\fs24\insrsid13267606\charrsid91614 (6 De}{\i\fs24\insrsid4917994\charrsid91614 ce}{\i\fs24\insrsid13267606\charrsid91614 m}{\i\fs24\insrsid4917994\charrsid91614 b}{ \i\fs24\insrsid13267606\charrsid91614 e}{\i\fs24\insrsid4917994\charrsid91614 r 1990 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }{\b\fs24\insrsid13267606\charrsid91614 B}{\b\fs24\insrsid4917994\charrsid91614 E}{\b\fs24\insrsid13267606\charrsid91614 }{\b\fs24\insrsid4917994\charrsid91614 IT}{\b\fs24\insrsid13267606\charrsid91614 }{\b\fs24\insrsid4917994\charrsid91614 ENACTED}{ \fs24\insrsid13267606\charrsid8400824 }{\fs24\insrsid4917994\charrsid8400824 by}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\insrsid4917994\charrsid8400824 the}{\fs24\insrsid13267606\charrsid8400824 P}{\fs24\insrsid4917994\charrsid8400824 arliamen}{ \fs24\insrsid13267606\charrsid8400824 t }{\fs24\insrsid4917994\charrsid8400824 of}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\insrsid4917994\charrsid8400824 the Cook}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\insrsid4917994\charrsid8400824 Islands}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\insrsid4917994\charrsid8400824 in}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\insrsid4917994\charrsid8400824 Session assembled, and by tine authority of the same, as follows: \par }{\fs24\insrsid13267606\charrsid8400824 \par }{\fs24\insrsid4917994\charrsid8400824 1. }{\fs24\ul\insrsid4917994\charrsid4218364 Short Title and Commencement}{\fs24\insrsid4917994\charrsid8400824 }{\fs24\insrsid8400824 -}{\fs24\insrsid4917994\charrsid8400824 (1) This Act may be cited as the Income Tax Amendment Act 1990. \par }{\fs24\insrsid13267606\charrsid8400824 \par }{\fs24\insrsid4917994\charrsid8400824 (2) This Act shall come into force on the }{\fs24\insrsid13267606\charrsid8400824 1}{\fs24\insrsid4917994\charrsid8400824 st day of January 1991. \par }{\fs24\insrsid13267606\charrsid8400824 \par }{\fs24\insrsid4917994\charrsid8400824 2. }{\fs24\ul\insrsid13267606\charrsid4218364 I}{\fs24\ul\insrsid4917994\charrsid4218364 nter}{\fs24\ul\insrsid13267606\charrsid4218364 p}{\fs24\ul\insrsid4917994\charrsid4218364 retat}{ \fs24\ul\insrsid13267606\charrsid4218364 i}{\fs24\ul\insrsid4917994\charrsid4218364 on}{\fs24\insrsid4917994\charrsid8400824 }{\fs24\insrsid8400824 -}{\fs24\insrsid4917994\charrsid8400824 In this Act, unless the context otherwise requires }{ \fs24\insrsid8400824 -}{\fs24\insrsid4218364 }{\fs24\insrsid4917994\charrsid8400824 \par }{\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4218364 {\fs24\insrsid4917994\charrsid8400824 "Pr}{\fs24\insrsid13267606\charrsid8400824 incipal Act" means the Income Tax Act 19}{\fs24\insrsid4917994\charrsid8400824 72 and includes all amendments thereto. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }{\fs24\insrsid4917994\charrsid8400824 3.}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\ul\insrsid4917994\charrsid4218364 Special Exe}{\fs24\ul\insrsid13267606\charrsid4218364 m}{\fs24\ul\insrsid4917994\charrsid4218364 ption}{ \fs24\ul\insrsid13267606\charrsid4218364 for Life I}{\fs24\ul\insrsid4917994\charrsid4218364 nsurance}{\fs24\ul\insrsid13267606\charrsid4218364 }{\fs24\ul\insrsid4218364\charrsid4218364 Contributions}{\fs24\insrsid4218364 }{\fs24\insrsid8400824 -}{ \fs24\insrsid13267606\charrsid8400824 }{\fs24\insrsid4917994\charrsid8400824 The principal Act is hereby amended by repealing sections 46 th}{\fs24\insrsid4218364 e}{\fs24\insrsid4917994\charrsid8400824 reof and substituting the following }{ \fs24\insrsid8400824 -}{\fs24\insrsid4218364 }{\fs24\insrsid4917994\charrsid8400824 \par }{\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4218364 {\fs24\insrsid4917994\charrsid8400824 "Section}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\insrsid4917994\charrsid8400824 46.}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\ul\insrsid13267606\charrsid4218364 Special exemption for L}{\fs24\ul\insrsid4917994\charrsid4218364 ife}{\fs24\ul\insrsid13267606\charrsid4218364 I}{\fs24\ul\insrsid4917994\charrsid4218364 nsurance Contributions}{ \fs24\insrsid4917994\charrsid8400824 }{\fs24\insrsid8400824 -}{\fs24\insrsid4917994\charrsid8400824 (1) For the purpose of assessing income tax every taxpayer (other than a taxpayer to whom Section 47 of this Act applies) who pays premiums for the taxpayer's own benefit or for the benefit of the taxpayer's spouse or children (includi}{\fs24\insrsid13267606\charrsid8400824 ng}{ \fs24\insrsid4917994\charrsid8400824 a step child, adopted child, or foster child), towards a quali}{\fs24\insrsid13267606\charrsid8400824 f}{\fs24\insrsid4917994\charrsid8400824 ying life insurance policy shall be entitled to a deduction by way of special exemption from his or her assessable income }{\fs24\insrsid4218364 for }{\fs24\insrsid4917994\charrsid8400824 any income year, of the}{\fs24\insrsid91614 amount of these premiums -} {\fs24\insrsid4917994 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid4218364\charrsid8400824 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid91614 {\fs24\insrsid4218364\charrsid4218364 (a}{\fs24\insrsid4218364 ) a}{\fs24\insrsid4917994\charrsid8400824 qualifying life policy }{\fs24\insrsid4218364 shall be a policy }{\fs24\insrsid4917994\charrsid8400824 issued by an in}{\fs24\insrsid4218364 surance company incorporated in the Cook}{\fs24\insrsid4917994\charrsid8400824 Islands }{\fs24\insrsid4218364 and approved by the Collector }{ \fs24\insrsid4917994\charrsid8400824 of Inland Revenue on}{\fs24\insrsid4218364 which the policy term shall be at least 10 years, or five years where the maturity date of the policy is not before the 60}{\fs24\super\insrsid4218364\charrsid4218364 th}{ \fs24\insrsid4218364 birthday of the life assured;}{\fs24\insrsid4917994 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid4218364 {\fs24\insrsid4218364 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid91614 {\fs24\insrsid4218364 (b) the Collector may approve the exemption with respect to a life insurance policy not otherwise qualifying, where he believes that the insurance company issuing the policy is reputable and solvent, and the company meets its tax obligations in the Cook I slands, or the policy holder meets the company\rquote s obligations pursuant to section 36 of the Turnover Tax Act 1980. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid91614 {\fs24\insrsid4917994\charrsid8400824 (2) A deduction by way of a special exemption pursuant to this section by a taxpayer in respect of any income year shall not exceed in the aggregate the sum of $2,000. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid91614 {\fs24\insrsid4917994\charrsid8400824 (3) The Collector may, in his discretion, disallow a deduction by way of special exemption in respect of premiums paid for any policy of life insurance surrendered within 5 years of the commencement of that policy. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid91614 {\fs24\insrsid4917994\charrsid8400824 (4) Where the Collector disallows a deduction by way of special exemption he may make or amend any assessment or assessments of the taxpayer for any year without allowing that deduction. For the purpose of giving effect to this subsection, the Collector may amend any assessment or assessments of the taxpayer at any time, notwithstanding anything in section 23 of this Act. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid91614 {\fs24\insrsid4917994\charrsid8400824 (5) This section shall not apply to any premiums in respect of which a deduction has been allowed under any other provision of this act." \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }{\fs24\insrsid4917994\charrsid91614 4.}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\ul\insrsid4917994\charrsid4218364 Incomes wholly exempt from taxations}{\fs24\insrsid4917994\charrsid8400824 }{\fs24\insrsid8400824 -}{ \fs24\insrsid4917994\charrsid8400824 The principal Act is hereby am}{\fs24\insrsid9446073 ended by repealing subsection 48}{\fs24\insrsid4917994\charrsid8400824 (f) thereof and substituting the following }{\fs24\insrsid8400824 -}{ \fs24\insrsid4917994\charrsid8400824 \par }{\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4218364 {\fs24\insrsid4917994\charrsid8400824 "(f) Income from a superannuation fund and income derived by the trustees of a superannuation fund." \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }{\fs24\insrsid4917994\charrsid91614 5.}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\ul\insrsid4917994\charrsid4218364 Rebate in respect of low income earners}{\fs24\insrsid4917994\charrsid8400824 }{\fs24\insrsid8400824 -}{ \fs24\insrsid4917994\charrsid8400824 The principal Act is hereby amended by repealing section 45A thereof and substituting the following }{\fs24\insrsid8400824 -}{\fs24\insrsid4917994\charrsid8400824 \par }{\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4218364 {\fs24\insrsid4917994\charrsid8400824 "45A}{\fs24\insrsid9446073 .}{\fs24\insrsid4917994\charrsid8400824 }{\fs24\ul\insrsid4917994\charrsid9446073 Rebate in respect of low income earners}{\fs24\insrsid4917994\charrsid8400824 }{\fs24\insrsid8400824 -}{\fs24\insrsid4917994\charrsid8400824 (1) Where in any income year a taxpayer has an assessable income of $5,000 or less, there shall be allowed from the income tax payable, a rebate equal to the amount of such income tax. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4415924 {\fs24\insrsid4917994\charrsid8400824 (2) Where in any income year a taxpayer has an assessable income grea ter than $5000 and less than $5500 there shall be allowed from the income tax payable a rebate of $500 diminished by $0.78 for each complete dollar of taxable income which exceeds $5,000. \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid4415924 {\fs24\insrsid4917994\charrsid8400824 (3) The provisions of th}{\fs24\insrsid13267606\charrsid8400824 is section shall not apply to }{\fs24\insrsid8400824 -}{ \fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4415924 {\fs24\insrsid4917994\charrsid8400824 (a) an absentee; or \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li1440\ri0\widctlpar\faauto\adjustright\rin0\lin1440\itap0\pararsid4415924 {\fs24\insrsid4917994\charrsid8400824 (b) any company, body corporate or trust." \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }{\fs24\insrsid4917994\charrsid4415924 6.}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\ul\insrsid4917994\charrsid8466708 Rebate for expenditure en energy conservation}{\fs24\insrsid4917994\charrsid8400824 }{\fs24\insrsid8400824 -}{ \fs24\insrsid4917994\charrsid8400824 Section 6 of the In}{\fs24\insrsid13267606\charrsid8400824 com}{\fs24\insrsid4917994\charrsid8400824 e Tax Amendment Act (No}{\fs24\insrsid8400824 -}{\fs24\insrsid4917994\charrsid8400824 2) 1989}{\fs24\insrsid8400824 -}{\fs24\insrsid4917994\charrsid8400824 90 is hereby amended as follows }{\fs24\insrsid8400824 -}{\fs24\insrsid4917994\charrsid8400824 \par }{\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8466708 {\fs24\insrsid4917994\charrsid8400824 (a) in the first paragraph, by deleting the word "46A" and substituting it with the word "46}{\fs24\insrsid13267606\charrsid8400824 B}{\fs24\insrsid4917994\charrsid8400824 ". \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid8466708 {\fs24\insrsid4917994\charrsid8400824 (b)}{\fs24\insrsid13267606\charrsid8400824 }{\fs24\insrsid4917994\charrsid8400824 in the second paragraph, by deleting the word.: "46B" and substituting it with the word "46C".}{\fs24\insrsid4917994 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8466708 {\fs24\insrsid8466708 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8466708 {\fs24\insrsid8466708 ---------------------------------------------}{\fs24\insrsid8466708\charrsid8400824 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13267606 {\fs24\insrsid13267606\charrsid8400824 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid8466708 {\fs24\insrsid4917994\charrsid8400824 This Act is administered by the Inland Revenue Department \par }}