Abstract:
"78 (1) Income tax shall be assessed and levied on the taxable income of every tax payer at such rate or rates as may be fixed from time to time by Acts to be passed for that purpose."
"77 (1) Subject to the provisions of this Act, there shall be levied and paid for the use of her Majesty ... for the year commencing on the first day of April in each year, a tax herein referred to as income tax, ...
(2) Subject to the provisions of this Act, -
(a) Income tax shall be payable by every person other than a subsisting company or a public authority or a Maori authority on all income derived by him during the year ... for which the tax is payable:
(b) Income tax shall be payable by every subsisting company and every public authority on all income derived by the company or authority as a trustee or agent during the year ... for which tax is payable." The above provisions are taken from sections 77 and 78 of the Land and Income Tax Act 1954.