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Niue Sessional Legislation |
NIUE
INCOME TAX ACT (AMENDMENT) ACT 1998
No. 238
Arrangement of provisions
Provision number
1 Short title
2 Commencement
3 Section 41.A of the Income Tax Ordinance 1961 repealed and replaced
4 Third Schedule to Income Tax Ordinance 1961 repealed and replaced
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AN ACT
to amend the Income Tax Ordinance 1961
1 Short title
(1) This Act may be cited as the Income Tax (Amendment) Act 1998.
2 Commencement
(1) This Act is to be taken to have come into force on 1 April 1998.
3 Section 41.A of the Income Tax Ordinance 1961 repealed and replaced
(1) Section 41.A of the Income Tax Ordinance 1961 is repealed and the following section is substituted -
"41.A Low income rebate
(1) A person other than -
(a) an absentee; or
(b) a company,
with an assessable income of less than $20,000 is entitled to a rebate on the income tax that is payable or would otherwise be payable on that income.
(2) The rebate referred to in subsection (1) shall be at the rate set out in the Third Schedule."
4 Third Schedule to Income Tax Ordinance 1961 repealed and replaced
(1) The Third Schedule to the Income Tax Ordinance 1961 is repealed and the following Schedule is substituted -
"THIRD SCHEDULE
Low income rebate
(Section 41.A)
| Amount of assessment income of taxpayer | Rebate |
| $10,000 or less | An amount equal to the income tax that would otherwise be payable on the assessable income of the taxpayer or $1000 being which ever
is the lesser amount. |
| More than $10,000 but less than $20,00 | $1000 less 10 cents for each dollar of assessable income of the taxpayer in excess of $10,000. |
”
The Niue Assembly passed this Act on the 26th day of November 1998.
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URL: http://www.paclii.org/nu/legis/num_act/ita1998196