NEW BRITISH TAXES.

Dominion, Volume 2, Issue 521, 31 May 1909, Page 5

NEW BRITISH TAXES.

FINANCE BILL. ' ' CONCESSIONS AND EXPLANATIONS. LAND AND LICENSES. ' lar iH.iauAi'u—ritEsi association—corimani.l (Rec. May 30, 4.30 p.m.) ■ > , London, May 29. Thp Finance Bill is a volumiiibus measure consisting of G2 pages_ and 74 clauses. It contains two or threo concessions in connection with the Btfdgot scheme of new taxation." Other .concessions will probably bo insorted, iu Committee! ■. In: connection with' the proposals for taxing the unearned increment, tho Bill allows for decrements—withput / mentioning any scale therefor—also for deductions in increment valuations for. buildings on land, goodwill,, and agricultural improvements. The reversionary duties do not apply to leases of less than twenty-ono years' currency. As. to the duty on undeveloped land?, no such duty shall" be charged on public pat lis nor on domestic gardon3 that are less than one acre''in area.' A reduction, is allowed for site values where the increases in yalutf are the result of'the efforts of the owner. . . Tho Biil slightly; alters the original Budget proposal with regard to hotel Jicenses, basing the charges on liquor salea instead of/making -tho./license fees equal to half tho rent. The duties on petrol and motor cars are not altered; .. ' ■■~.'. No change is made in response to tne-pro-iests of bankers and merchants, who, in a .nomorial of protest a fortniaht ago, specially mentioned the incomo tax and death/duties and reduction of sinking fund payments. A fine of £50 daily,is provided for persons failing'to make j income-returns for supertax. , Clubs ire to make annual returns of liquor sold; on which imposts will be. based. , Critics considor thai/ tho working of the taxation schemes is so complex that their adaptation to requirements will be loft to n staff of permanent officials. Tho land clauses, it is contended, amount to an alteration of the whole'land tenure, which will possibly induce the House of Lords to demand a soparato Land Bill. [The Liberals will probably not givo the Lords, a-separato Land Bill if thej can possibly keep it under the Finan'co Bill. .The last Land Values Bill suffered considerably in the Upper Chamber.] . SURVEYORS' PROTEST. ; •:' \ > (Rec. May 30, 4,45 p.m.) '... London, May 29. The Council of the Surveyors' Institution has issued an important memorandum against tjio proposed methods'of dealing with incre- 1 mont and reversions in the case of uncovered building land and .'ungotton minerals,: and thoir effect upon enterprise and thrift. : [The Surveyors' Institution is. incorporated by; royal' bhartor to secure, the advancement and faoilitate : the" acquisition' of that knowledge which constitutes the profession of a surveyor. The Institution has . over 4000 members'.]