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149. Payments to shareholders and debentureholders in certain eases. in certain cases assessable to shareholders. 151. Excessive remuneration by proprietary company to shareholder, director, or relative. 152. Temporary relief for proprietary companies establishing new industries. Country of Derivation of Income 153. Liability for assessment of income derived from New Zealand and abroad. 154. Place of residence, how determined. 155. Classes of income deemed to be derived from New Zealand. 156. Commission agency contracts performed out of New Zealand. 157. Apportionment where income derived partly in New Zealand and partly elsewhere. 158. Exemption of income chargeable with tax in other British dominion. 159. Reciprocal arrangements for exemption of non-resident traders. 160. Arrangements for relief from double taxation of income. Income Derived by a Trustee 161. Special provisions with respect to trustees. 162. Income received by trustee after death of deceased person. 163. Income derived in trust for Maoris. 164. Income . derived from Maori land being developed under Part I of Maori Land Amendment Act, 1936. PART VII Agents and Non-residents Interpretation 165. 11 Absentee " defined. Agents Generally 166. Rate and amount of tax payable by agent. 167. Liability of principal not affected. 168. Agent may recover tax from principal.

I 169. Agent may retain from moneys of principal amount required for tax. • 170. Assessment deemed authority for payment of tax by agent. 171. Agents to be personally liable for payment of tax. 172. Agent to make returns and be assessed as principal. 173. Kelation of principal and agent arising in effect. Special Cases of Agency 174. Liability of mortgagee in possession. 175. Guardian of person under disability to be Ms agent. 176. Person having control of land or of rents and profits to be agent of absentee or person under disability. 177. Company deemed agent of debentureholders. 178. Modification of agency provisions in respect of income from company debentures. 179. Local and public authorities to be agents of debentureholders. 180. Modification of agency provisions in respect of income from local or public authorities ' debentures. 181. Eecovery of income tax payable in respect of alimony or maintenance. Agents of Absentees and Nonresidents 182. Liability of agent of absentee principal for returns and tax. 183. Partner of absentee deemed agent. 184. Master of ship deemed agent of absentee owner. 185. Tenant, mortgagor, or other debtor to be agent of absentee landlord, mortgagee, or other creditor. 186. Person having control of land or of rents and profits to be agent of absentee owner. 187. Person having disposal of income deemed agent. 188. Company to be agent of absentee shareholders. 189. Banking company to be agent of absentee depositors. 190. Premiums on insurance effected with persons not carrying on business in New Zealand. 191. Liability as agent of employer of non-resident taxpayer and employer's agent.

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