Commonwealth income tax definition

Commonwealth income tax means any income tax charged under any law in force in any part of the Commonwealth other than the United Kingdom;
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Commonwealth income tax means any tax on income or profits of companies charged under a law in force in any country within the Commonwealth or in the Republic of Ireland which provides for relief from tax charged both in that country and Nigeria in a manner corresponding to the relief granted by this section;
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Commonwealth income tax means any tax on income or profits of companies charged under a law in force in any country within the Commonwealth or in the Republic of Ireland which provides for relief from tax charged both in that country and Nigeria in a manner corresponding to the relief granted by this section; "the rate of tax" under this Act of a company for any year assessment means the rate determined by dividing the amount of tax imposed for that year (before the deduction of any double taxation relief granted by this Part) by the amount of the total profits of the company for that year, and the Commonwealth rate of tax shall be determined in a similar manner.
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Examples of Commonwealth income tax in a sentence

  • In this section — Commonwealth income tax provisions means the Income Tax Assessment Act 1997 (Commonwealth) section 83A‑315 and the regulations made for the purposes of that section.

  • Under this regime, CS Energy Limited and its 100% owned Australian subsidiaries must ascertain their income tax liability each year in a manner substantially similar to Commonwealth income tax laws, and any tax resulting is to be paid to Queensland Treasury.

  • In this section — Commonwealth income tax provisions means the provisions of Subdivision F of Division 13A of Part III of the Income Tax Assessment Act 1936 (Commonwealth).

  • The market value of a share or an option on the relevant day is to be determined in accordance with the Commonwealth income tax provisions.

  • The Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997 exempt the Corporation and its controlled entities from liability for Commonwealth income tax.

  • The County will not take or omit to take any action the taking or omission of which will in any way cause the proceeds from the sale of the Bonds to be applied in a manner other than as described in the Official Statement and as permitted by the Resolution and which would cause the interest on the Refunded Bonds (as defined in the Official Statement) be includable in the gross income of the recipients thereof for federal or Commonwealth income tax purposes.

  • Like most Azorean men, what he really yearned to be was a farmer, but circumstances prevented the realization of his dream.Eugene Perry was another whaleman who came ashore to run a business on Nantucket.

  • In this section — Commonwealth income tax provisions means the Income Tax Assessment Act 1997 (Commonwealth) section 83A-315 and the regulations made for the purposes of that section.Note:See the Income Tax Assessment Regulations 1997 (Commonwealth) Division 83A for the relevant regulations.

  • However, pursuant to the Government Owned Corporations Act 1993 and the National Tax Equivalent Regime, the Group is required to make payments to the Queensland Government, equivalent to the amount of any Commonwealth income tax for which an exemption is received.

  • The Explantory Notes (p 37) explain why this provision has been included:As the Coordinator-General will retain ownership of the Surat Basin rail corridor land at all times and the railway will be affixed to the Surat Basin rail corridor land, common law principles and Commonwealth income tax legislation will treat the State as the legal owner of the rail infrastructure constructed on the land.

Related to Commonwealth income tax

  • State Income Tax means any Tax imposed by any State of the United States (or by any political subdivision of any such State) or the District of Columbia, or any city or municipality located therein, which is imposed on or measured by net income, including state and local franchise or similar Taxes measured by net income, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Foreign Income Tax means any Tax imposed by any foreign country or any possession of the United States, or by any political subdivision of any foreign country or United States possession, which is an income tax as defined in Treasury Regulation Section 1.901-2, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • Income Tax means all U.S. federal, state, local and foreign income, franchise or similar Taxes imposed on (or measured by) net income or net profits, and any interest, penalties, additions to Tax or additional amounts in respect of the foregoing.

  • Commonwealth Citizen means any person who has the status of a Commonwealth citizen under the British Nationality Act 1981, not covered by the ‘UK Nationality’ definition above. This includes British Dependent Territories citizens (other than Gibraltarians), British Overseas citizens, and from 1986 those persons in the category British National (Overseas).

  • Payroll Tax Executive Order means the Presidential Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster, as issued on August 8, 2020 and including any administrative or other guidance published with respect thereto by any Governmental Authority (including IRS Notice 2020-65).

  • Commonwealth Minister means the local Minister within the meaning of the gas pipelines access legislation of the Commonwealth;

  • Income Tax Act means the Income Tax Act, 1962 (Act No. 58 of 1962);

  • U.S. Economic Sanctions Laws means those laws, executive orders, enabling legislation or regulations administered and enforced by the United States pursuant to which economic sanctions have been imposed on any Person, entity, organization, country or regime, including the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran Sanctions Act, the Sudan Accountability and Divestment Act and any other OFAC Sanctions Program.

  • Social Security Act means the Social Security Act of 1965.

  • Tax Code means the Internal Revenue Code of 1986, as amended.

  • U.S. Tax Code means the United States Internal Revenue Code of 1986, as amended.

  • Federal Income Tax means any Tax imposed by Subtitle A of the Code other than an Employment Tax, and any interest, penalties, additions to tax, or additional amounts in respect of the foregoing.

  • foreign tax means any Foreign Income Taxes or Foreign Other Taxes.

  • Economic Sanctions Laws means those laws, executive orders, enabling legislation or regulations administered and enforced by the United States pursuant to which economic sanctions have been imposed on any Person, entity, organization, country or regime, including the Trading with the Enemy Act, the International Emergency Economic Powers Act, the Iran Sanctions Act, the Sudan Accountability and Divestment Act and any other OFAC Sanctions Program.

  • the 1988 Act means the Local Government Finance Act 1988.

  • the Commonwealth means the Commonwealth of Australia as the party to this agreement;

  • U.S. Internal Revenue Code means the United States Internal Revenue Code of 1986, as amended.

  • Section 409A of the Code means the nonqualified deferred compensation rules under Section 409A of the Code and any applicable treasury regulations and other official guidance thereunder.

  • National Road Traffic Act means the National Road Traffic Act, 1996 (Act 93 of 1996);

  • the 2001 Regulations means the Water Supply (Water Quality) Regulations 2001[63];