Economic Expansion Incentives (Relief from Income Tax) Act 1967
Table of Contents
Long Title
Part 1 PRELIMINARY
1 Short title
2 Act to be construed as one with Income Tax Act 1947
3 Interpretation
3A Assignment of function or power to public body
Part 2 PIONEER INDUSTRIES
4 Power to approve industry and product as pioneer industry and pioneer product
5 Application for and issue and amendment of pioneer certificate
6 Tax relief period for pioneer product
7 Provisions governing old and new trade or business
8 Provisions governing separate trade or business
9 Power to give directions
10 Ascertainment of income in respect of old trade or business
11 Application of Part 16 of Income Tax Act 1947
12 Comptroller to issue statement of income
13 Exemption from income tax
14 Recovery of tax exempted
15 Carry forward of loss and allowance
Part 3 PIONEER SERVICE COMPANIES
16 Interpretation of this Part
17 Application for and issue and amendment of certificate for pioneer service company
18 Application of sections 6 to 15 to pioneer service company
19 Exclusion of intellectual property income from sections 10 and 15
Part 4 DEVELOPMENT AND EXPANSION INCENTIVE
20 Interpretation of this Part
21 Application for and issue of certificate to development and expansion company
22 Tax relief period of development and expansion company
23 International legal services
24 Recovery of tax subject to concessionary rate
25 Ascertainment of income from qualifying activities
26 Ascertainment of income from other trade or business
27 Deduction of losses
28 Power to give directions
Part 5 TRANSFER OF AWARDS
29 Interpretation of this Part
30 Application of this Part
31 Application for transfer of award
32 Certificate for transferred awards
Part 6 FOREIGN LOANS FOR PRODUCTIVE EQUIPMENT
33 Application for approval of foreign loan
34 Restriction on disposal of specified productive equipment
35 Exemption of approved foreign loan interest from tax
36 Exemption of additional interest on approved foreign loan from tax
Part 7 ROYALTIES, FEES AND DEVELOPMENT CONTRIBUTIONS
37 Application for approval of royalties, fees or contributions
38 Notice of variation of terms of agreement or arrangement
39 Reduction of tax for approved royalties, fees or contributions
40 Exemption from tax where investment made in approved enterprise
40A Application for approval of activities
40B Reduction of tax for royalties, fees or contributions payable under agreements or arrangements for purposes of approved activities
40C Revocation of approval of approved royalties, fees or contributions
40D Retrospective revocation of approval of approved royalties, fees or contributions
40E Amendment of approved activity certificate
40F Revocation of approval for activity
40G Recovery of tax
Part 8 INVESTMENT ALLOWANCES
41 Interpretation of this Part
42 Application of Parts 8 and 10 and section 3 in relation to corporate partnerships and partners of corporate partnerships
43 Capital expenditure investment allowance
44 Investment allowance
45 Crediting of investment allowance
46 Prohibition to sell, lease out or dispose of assets
47 Exemption from income tax
48 (Repealed)
49 No investment allowance for certain expenditure
Part 9 (Repealed)
50 (Repealed)
51 (Repealed)
52 (Repealed)
53 (Repealed)
54 (Repealed)
55 (Repealed)
56 (Repealed)
57 (Repealed)
58 (Repealed)
59 (Repealed)
Part 10 MISCELLANEOUS PROVISIONS
60 Prohibition of publication of application and certificate or letter
61 Revocation of certificate or letter
61A Revocation of tax incentive and recovery of tax
62 Provisions of Income Tax Act 1947 not affected
63 Action of officers no offence
64 Regulations
65 Saving