Shaneel

• 11. For the purpose or this Act , "total income " means the aggregate of all sources
of income including the annual net profit or gain or gratuity, whether ascertained and
capable of computation as being wages, salary or other fixed amount or unascertained as
being fees or emoluments or as being profits from trade or commercial or financial or other
business or calling or otherwise howsoever, directly or indirectly accrued to or derived by a
person from any office or employment or from any profession or calling or from any trade,
manufacture or business or otherwise howsoever, as the case may be, including the
estimated annual value of any quarters or board or residence or of any other allowance or
benefit provided by his employer or granted in respect of employment whether in money or
otherwise, and shall include the interest,

• dividends or profits directly indirectly accrued or derived from money at interest upon any
security or without security or from stock or from any other investment, and whether such
gains or profits are divided or distributed or not, and also the annual profit or gain from any
other source including the income from, but not the value of, property acquired by gift,
bequest, devise or descent, and including the income from, but not the proceeds of, life
insurance policies paid upon the death of the person insured, or payments made or credited
to the insured on life insurance, endowment or annuity contracts upon the maturity of the
term mentioned in the contract:

Manjeet
Provided that, without in any way, affecting the generality of this section, "total income ",
for the purpose of this Act , shall include-

• (a) any profit or gain accrued or derived from the sale or other disposition of any real or
personal property or any interest therein, if the business of the taxpayer comprises dealing
in such property, or if the property was acquired for the purpose of selling or otherwise
disposing of the ownership of it, and any profit or gain derived from the carrying on or
carrying out of any undertaking or scheme entered into or devised for the purpose of
making a profit: but nevertheless, the profit or gain derived from a transaction of purchase
and sale which does not form part of a series of transactions and which is not in itself in the
nature of trade or business shall be excluded;

• (b) any rent, fine, premium or like consideration (including a payment for or in respect of the
goodwill of any business or the benefit of any statutory licence or privilege) derived by the
owner of land from the grant of any lease, licence, concession, permission, easement or any
other right granted to any person to use or over any land, or from the grant of any right of
taking the profits thereof:

• Provided that, where any such sum is derived by way of anticipation, the Commissioner may,
in his discretion, apportion that income between the income year and any number of
subsequent years, not exceeding 5, and the part so apportioned to each of those years shall
be deemed to have been derived in that year and shall be chargeable with tax accordingly;
 Bobby / Ritnesh

• (c) remuneration becoming due and payable in respect of or in relation to services rendered
by any person during any year in any office or employment, and such remuneration shall be
total income of that person for that year but shall not include the amount of inducement
allowance, education allowance or the proportion of the gratuity payable to any designated
officer by the Government of the United Kingdom under the provisions of the Overseas
Service (Fiji) Agreement, 1961, as amended from time to time:

• Provided that, where any remuneration is received after the end of a particular year, the
Commissioner may reopen such assessments as may be necessary to comply with this
paragraph without the restriction as to time imposed by subsection (2) of section 59, but
otherwise the provisions of that subsection shall apply to such reassessments;

• (d) any royalty, profit or gain derived from the extraction, removal or sale of minerals, gravel
or timber reduced by an amount equal to the cost of such minerals, gravel or timber. Such
royalty, profit or gain shall be deemed to include-

• (i) any royalty or other like payment dependent upon production from or the use of any real
or personal property, whether or not such royalty or other payment is an instalment of the
purchase price of any property;

• (ii) any profit or gain derived from the sale of any rights over, or rights, to work, minerals or
to extract gravel or timber;

• (iii) any profit or gain derived from the sale of any option, survey or geological report or
anything appertaining thereto representing valuable consideration, whether by the owner of
the land from which it is obtained or by any other person;

• Provided that the Minister, if satisfied that it is expedient for the economic development of
Fiji, may, by notice to the Commissioner, direct that the whole or any part of any profits or
gains derived from the sale of any minerals, gravel, or timber shall be excluded from the
total income of any taxpayer for the purposes of this Act .

• For the purpose of this paragraph-

• (a) "minerals" shall have the same meaning as in the Mining Act , and shall be deemed to
include natural gas, oil, clay, gravel, sand, stone or other common mineral substances;

• (b) "sale" shall be deemed to include an assignment or a disposition by way of a licence or

easement, or the grant of any right or taking of any profits or produce from land, or the sale
of shares of a company whose major asset comprises a mining lease or tenement or the like;

• (c) "timber" shall be deemed to include standing timber;