CO129-615-2 Income tax 10-3-1947 - 6-2-1948 — Page 254

the tax. In particular it seems difficult for the

went into

Ordinance to catch a firm which was liquidated

tean

prior to 1st April 1947, the proposed date from

which the Ordinance is to become effective. It

may be more simple to catch a firm which liquidates

itself after 1st April 1947 as it is in existence

when the Ordinance itself is in force and presumably

a special section could be introduced making such a

firm liable in respect of the 1946/7 profits, in

spite of Section 19 (5), if the liquidation is

voluntary.

I should, however, be grateful for any advice

you may be able to give us on this point in the

light of your experience of Colonial Income Tax

legislation.

Yours sincerely,

(H. PALMER)

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