STAMP DUTIES.
- ♦ SMALL RELIEF FOR RACING CLUBS. [THE PBESS Specl&l Service.] WELLINGTON, November 23. A Stamp Duties Amendment Bill was introduced into the House of Eepresentatives by Governor-General's message at midnight. The Bill provides that consideration of a transfer of property is not to be deemed inadequate if it .-epresents the fair market value of the property. There is provision for an exemption from stamp duty for receipts given by discharged prisoners in respect of moneys held on their behalf by the prison authorities. The Bill farther provides that receipts by racing clubs in respect of admission to racecourses will be exempted from totalisator duty. Amusement tax has been paid on these receipts, which has meant that a doublo taxation has operated. There is an additional clause providing for the tightening up of the provision for the recovery of totalisator. and dividend taxation from racing clubs. The Bill was read a first time.
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Press, Volume LXIII, Issue 19166, 24 November 1927, Page 12
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153STAMP DUTIES. Press, Volume LXIII, Issue 19166, 24 November 1927, Page 12
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