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)}}{\*\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 \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid13648761 \fs20\lang2057\langfe5129\cgrid\langnp2057\langfenp5129 {\i\fs24\insrsid13648761 Repealed}{\i\fs24\insrsid13648761\charrsid13648761 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid148442 {\b\fs24\insrsid148442 COOK ISLANDS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid5787277 {\b\fs24\insrsid148442 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid148442 {\b\fs24\insrsid12089469 INCOME TAX AMENDMENT ACT}{\b\fs24\insrsid9271105 }{\b\fs24\insrsid148442 1998 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid5787277 {\b\fs24\insrsid148442 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid148442 {\fs24\insrsid148442 ANALYSIS \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid7094874\charrsid148442 \par Title \par 1.}{\fs24\insrsid148442 }{\fs24\insrsid7094874\charrsid148442 Short Title and commencement}{\fs24\insrsid148442 \par }{\fs24\insrsid148442\charrsid148442 2.}{\fs24\insrsid148442 }{\fs24\insrsid148442\charrsid148442 Standard supplemental deduction}{\fs24\insrsid148442 for individuals \par }{\fs24\insrsid7094874\charrsid148442 3.}{\fs24\insrsid148442 }{\fs24\insrsid7094874\charrsid148442 Basic Rates of Income }{\fs24\insrsid148442 Tax and Bonus Issue Tax \par \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid148442 {\fs24\insrsid148442 --------------------------------------- \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid148442 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid148442 {\b\fs24\insrsid267005\charrsid267005 1998, No. 19}{\b\fs24\insrsid148442\charrsid267005 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12089469 {\fs24\insrsid148442 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid5787277 {\fs24\ul\insrsid148442 An Act to amend the Income Tax Act 1997 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12089469 {\fs24\ul\insrsid148442 \par }\pard \qr \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid148442 {\fs24\insrsid2889224 (2 December 1998}{\fs24\insrsid148442\charrsid148442 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid148442 \par }{\b\fs24\insrsid7094874\charrsid148442 BE IT ENACTED}{\fs24\insrsid7094874\charrsid148442 by the Parliament of the Cook Islands in Session assembled, and by the authority of the same, as follows:}{\fs24\insrsid7094874 \par }{\fs24\insrsid148442\charrsid148442 \par }{\fs24\insrsid148442 1}{\fs24\insrsid7094874\charrsid148442 .}{\fs24\insrsid148442 }{\fs24\ul\insrsid7094874\charrsid148442 Short Title and commencement}{\fs24\insrsid7094874\charrsid148442 }{\fs24\insrsid148442 -}{\fs24\insrsid7094874\charrsid148442 (1)}{\fs24\insrsid148442 }{\fs24\insrsid7094874\charrsid148442 This Act may be cited as the Income Tax Amendment Act 1998 and shall be read together with and deemed part of the Income Tax Act 1997 (hereinafter referred to as }{\fs24\insrsid267005 "}{ \fs24\insrsid7094874\charrsid148442 the principal Act}{\fs24\insrsid267005 "}{\fs24\insrsid7094874\charrsid148442 ).}{\fs24\insrsid7094874 \par }{\fs24\insrsid148442\charrsid148442 \par }{\fs24\insrsid7094874\charrsid148442 (2)}{\fs24\insrsid148442 }{\fs24\insrsid7094874\charrsid148442 Section 2 of this Act shall be deemed to have come into force on the}{\fs24\insrsid148442 1}{\fs24\insrsid7094874\charrsid148442 st day of January 1998. }{\fs24\insrsid7094874 \par }{\fs24\insrsid148442\charrsid148442 \par }{\fs24\insrsid7094874\charrsid148442 (3)}{\fs24\insrsid148442 }{\fs24\insrsid7094874\charrsid148442 Section 3 of this Act shall be deemed }{\fs24\insrsid148442 to have come into force of the 1}{\fs24\insrsid7094874\charrsid148442 st day of July 1997.}{ \fs24\insrsid7094874 \par }{\fs24\insrsid7094874\charrsid148442 \par 2.}{\fs24\insrsid148442 }{\fs24\ul\insrsid7094874\charrsid148442 Standard supplemental deduction for individuals}{\fs24\insrsid7094874\charrsid148442 }{\fs24\insrsid148442 -}{\fs24\insrsid7094874\charrsid148442 The principal Act is amended by inserting at the end of section 44 the following }{\fs24\insrsid5787277 -}{\fs24\insrsid7094874 \par }{\fs24\insrsid148442\charrsid148442 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid148442 {\fs24\insrsid267005 "}{\fs24\insrsid7094874\charrsid148442 Provided further that where a taxpayer either leaves the Cook Islands permanently or arrives in the Cook Islands permanently, the $6,000 shall be proportionately adjusted according to the following formula }{\fs24\insrsid5787277 -}{\fs24\insrsid7094874 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid148442\charrsid148442 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid148442 {\fs24\insrsid5787277 6,000 x }{\fs24\ul\insrsid5787277\charrsid5787277 a}{\fs24\insrsid5787277 \par }{\fs24\insrsid7094874\charrsid148442 b}{\fs24\insrsid7094874 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid148442\charrsid148442 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12089469 {\fs24\insrsid7094874\charrsid148442 a = number of days personally present in the Cook Islands}{\fs24\insrsid148442 \par }{\fs24\insrsid5787277 b = number of days in the year.}{\fs24\insrsid267005 "}{\fs24\insrsid7094874 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid148442\charrsid148442 \par }{\fs24\insrsid7094874\charrsid148442 3.}{\fs24\insrsid148442 }{\fs24\ul\insrsid7094874\charrsid148442 Basic Rates of Income Tax and Bonus Issue Tax}{\fs24\insrsid7094874\charrsid148442 }{\fs24\insrsid148442 -}{\fs24\insrsid7094874\charrsid148442 Part C of the First Schedule to the principal Act is amended by deleting the proviso and substituting the following new proviso }{\fs24\insrsid13525189 -}{\fs24\insrsid7094874 \par }{\fs24\insrsid148442\charrsid148442 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid148442 {\fs24\insrsid267005 "}{\fs24\insrsid7094874\charrsid148442 Provided that in respect of a taxpayer who is an individual natural person r esident in the Cook Islands (not merely acting as a trustee), the rate of tax for every dollar shall be 20 cents on the person's secondary income, being so much of the person's taxable income that is equal to the greater of zero or an amount calculated us ing the following formula }{\fs24\insrsid13525189 -}{\fs24\insrsid7094874 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12089469 {\fs24\insrsid148442\charrsid148442 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12089469 {\fs24\insrsid7094874\charrsid148442 where:}{\fs24\insrsid148442 }{\fs24\insrsid7094874\charrsid148442 a }{\fs24\insrsid148442 -}{\fs24\insrsid7094874\charrsid148442 b \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid148442 \par }\pard \ql \li720\ri0\widctlpar\faauto\adjustright\rin0\lin720\itap0\pararsid12089469 {\fs24\insrsid7094874\charrsid148442 a}{\fs24\insrsid15871332 \tab }{\fs24\insrsid7094874\charrsid148442 is $24,000; and}{\fs24\insrsid7094874 \par }{\fs24\insrsid7094874\charrsid148442 b}{\fs24\insrsid15871332 \tab }{\fs24\insrsid7094874\charrsid148442 is the amount of the person's primary source of income.}{\fs24\insrsid267005 "}{\fs24\insrsid7094874 \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0 {\fs24\insrsid148442\charrsid148442 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid148442 {\fs24\insrsid148442 ------------------------------------------------- \par }\pard \ql \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12089469 {\fs24\insrsid148442 \par }\pard \qc \li0\ri0\widctlpar\faauto\adjustright\rin0\lin0\itap0\pararsid12089469 {\fs24\insrsid7094874\charrsid148442 This Act is administered by the Revenue Management Division of the Ministry of Finance and Economic Management.}{\fs24\insrsid7094874 \par }}