H CHAPTER 18 An Act to amend "The Hotel Act" [Assented to April 27th, 1923] IS MAJESTY, by and with the advice and consent of the to effect transfer 1. Section 3 of "The Hotel Act," being chapter 42 of 7 George Amendments v, is hereby amended by striking out of the second line the words from Attorney "Attorney General" and by substituting therefor the words General to "Municipal Commissioner." Municipal fees. 2. Section 14 of said Act in hereby amended by adding thereto Maximum of at the end thereof the words "if an hotel and if a restaurant the sum of forty dollars." Commissioner 3. Section 23 of said Act, as amended by section 10 of chapter Municipal 33 of 8 George v is hereby amended by striking out of the said to supply amendment the words "Attorney General" and by substituting display notices. therefor the words "Municipal Commissioner.' 4. Section 27 of said Act is hereby amended by striking out of the third and fourth lines the words "on the advice of the Attorney General." 5. This Act shall come into force on the day it is assented to. CHAPTER 19 An Act to authorize the levying of a Tax upon Personal Incomes [Assented to May 5th, 1923] IS MAJESTY, by and with the advice and consent of the 1. This Act may be cited as "The Income Tax Act." Title. INTERPRETATION 2. In this Act, and in any regulations made under this Act, Definitions. unless the context otherwise requires, the expression: (a) "commission" means "The Manitoba Tax Commission" created under "The Tax Commission Act;" (b) "dependent child" means a child under twenty-one years of age and dependent on his parent for support or over twentyone years of age and dependent on his parent for support on account of physical or mental incapacity; (c) "dividends" shall include stock dividends; (d) "minister" means the Municipal Commissioner, or such other member of the executive council as may be designated by the Lieutenant-Governor-in-Council as minister hereunder; (e) "person" means an individual, and includes a guardian, trustee, executor, administrator, agent, receiver, or any other individual, firm or corporation acting in a fiduciary capacity and the heirs, executors, administrators, successors and assigns of such person. (f) "taxpayer" means any person paying, liable to pay, or believed by the minister to be liable to pay, any tax imposed by this Act; (g) "year" means the calendar year. "Income." 3. (1) For the purpose of this Act "income" means the annual " net profit or gain or gratuity, whether ascertained and capable of computation as being wages, salary or other fixed amount, or unascertained as being fees or emoluments, or as being profits from a trade or commercial or financial or other business or calling directly or indirectly received by a person from any office or employment, or from any profession or calling, or from any trade, manufacture or business, as the case may be, whether derived from sources within Manitoba or elsewhere, and shall include the interest, dividends or profits directly or indirectly received from money at interest upon any security or without Income not Husband and wife. Consuls. Pensions. Provincial Child. security, or from stocks, or from any other investment, and whether such gains or profits are divided or distributed or not, and also the annual profit or gain from any other source, including the income from but not the value of property acquired by gift, bequest, devise or descent; and including the income from but not the proceeds of life insurance policies paid upon the death of the person insured or payments made or credited to the insured on life insurance endowment or annuity contracts upon the maturity of the term mentioned in the contract, or upon the surrender of the contract; and including the salaries, indemnities or other remuneration of all persons whatsoever whether the said salaries, indemnities or other remuneration are paid out of the revenues of His Majesty in respect of his government of Canada or of any province thereof, or by any person, and all other gains or profits of any kind derived from any source within or without the province whether received in money or its equivalent, with the exemptions and deductions hereinafter respectively set out. EXEMPTIONS 4. The following shall not be liable to taxation hereunder: (a) One thousand dollars of income in the case of unmarried persons and widows or widowers without dependent children, and persons who are not supporting dependent brothers or sisters under the age of eighteen years, or a dependent parent or parents, grandparent or grandparents, and two thousand dollars of income in the case of all other persons; a husband and wife living together shall receive but one personal exemption of two thousand dollars against their aggregate net income, and in case they make separate returns the personal exemption of two thousand dollars may be taken by either or divided between them; (b) the income of consuls and consular agents who are citizens of the country they represent and who are not engaged in any other business or profession; (c) any pension granted to any member of His Majesty's military, naval or air forces for any disability suffered by the pensioner while serving in any of His Majesty's forces, and any pension granted to any dependent relative of any person who was killed or suffered any disability while serving in the said forces. (d) the income derived from any bonds or other securities of the Province of Manitoba heretofore issued exempt from any income tax imposed in pursuance of any legislation enacted by the Province of Manitoba. DEDUCTIONS 5. (1) In computing taxable income hereunder the following deductions shall be made: (a) For the purposes of the tax, three hundred dollars for each child under eighteen years of age who is dependent upon the taxpayer for support; as insurance (b) An amount not exceeding ten per cent of the income Money paid of the taxpayer on the first three thousand dollars and not premiums. exceeding five per cent of the balance of the income of such taxpayer paid as premium on any insurance policy or policies on the life of the taxpayer or his dependents; (c) such reasonable amount as the minister in his discretion Depreciation. may allow for depreciation, and the minister in determining the income derived from mining and from oil and gas wells and timber limits shall make such an allowance for the exhaustion of the mines, wells and timber limits as he may deem just and fair; by employer. (d) any part of the remuneration of a taxpayer retained by Money retained his employer in connection with an employee's superannuation or pension fund or plan shall be allowed as an exemption or deduction from the income of the taxpayer for income tax purposes, and any payment to any employee out of such fund or plan shall be included as taxable income of the employee; under special (e) the amount paid by such taxpayer for corresponding Payments accounting periods under the provisions of Part I of "The Special War Revenue War Revenue Act, 1915," Statutes of Canada, and any amend-Act. ments thereto, provided that in computing the taxable income hereunder the taxpayer shall not include any taxes paid under the said Act in the expenses of his business, and the minister shall have power to determine any questions that may arise in consequence of any difference in the several periods for which the taxes under the said Act and under this Act, respectively, are payable, and the decision of the minister shall be final and conclusive; paid elsewhere. (f) the amount paid to Great Britain or any of its self- Income tax governing colonies or dependencies for income tax in respect of the income of the taxpayer derived from sources therein, and the amount paid to any foreign country for income tax in respect of the income of the taxpayer derived from sources therein, if, and only if, such foreign country in imposing such tax allows a similar credit to persons in receipt of income derived from sources within Canada; provided that such deductions shall not at any time exceed the amount of tax which would otherwise be payable under the provisions of section eight of this Act in respect of the said income derived from sources within Great Britain or any of its self-governing colonies or dependencies or any foreign country; and further provided that the said deduction shall be allowed only if the taxpayer furnishes evidence satisfactory to the minister showing the amount of tax paid and the particulars of income derived from sources within Great Britain or any of its self-governing colonies or dependencies or any foreign country; (g) The amount paid to the Dominion of Canada for income tax under the Income Tax Act. deductible (2) Deficits or losses sustained in transactions entered into Nonfor profit but not connected with the chief business, trade, losses; profession or occupation of the taxpayer shall not be deducted from income derived from the chief business, trade, profession or occupation of the taxpayer in determining his taxable income, |