Section RC 40 — Income Tax Act 2007: Some definitions

RC 40 Some definitions In this subpart,— early-payment discount means a discount of income tax under sections RC 38 and RC 39 small-business person means a person who— (a) conducts a business on their own account, acting alone or as a partner in a partnership; and (b) does not use a company or a trust in the conduct of the business; and (c) derives income that is mainly from the business, and does not consist of interest, dividends, royalties, rent, or beneficiary income. Defined in this Act: beneficiary income , business , company , dividend , income , income tax , interest , royalty , Compare: 2004 No 35 s MBB 4