The Income Tax (Export Incentive) Order 1965

This commentary item was published in Public Information Bulletin Volume 20, March 1965.

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The Income Tax (Export Incentive) Order 1965

The 1963 taxation incentive scheme for increased exports has been extended to include the following-

• Bees
• Products and by-products of bees, excluding packed extracted honey or crude unrefined bees wax
• Meat of game
• Products and by-products of game
• Poultry
• Products and by-products of poultry excluding eggs and egg pulp
• Wool grease and products derived therefrom

Under the scheme the net income arising from the increase of export sales of qualifying goods over the average export sales for the previous three income years is free from income tax. Previously, as animal products and by-products the above were excluded from the scheme. Under the Income Tax (Export Incentive) Order 1965 they will now qualify for the incentive deduction from the 1 April 1963.

Definitions

The terms "Game", "Poultry" and "Wool grease and products derived therefrom" embrace-

Game

deer, and when living in a wild state, hares, pigs and goats. Deer tails, antlers and sinews would be included as a product of the animal.

Poultry

domestic fowls, ducks, geese and turkeys and includes the carcass of any such birds

Wool grease and products derived therefrom

all fatty substances derived from wool grease, including lanolin.