LAND TAX

Dominion, Volume 8, Issue 2464, 18 May 1915, Page 8

LAND TAX

THE ASSESSMENT ACT. QUESTION OF ANOMALIES. Yesterday afternoon Mr. R. S. Abraham, of Palmcrstou North, waited on the Wellington Central Chamber of Commcrco, by invitation, to lay heforc tho body what appeared to him to be anomalies in the Land and Income Tax Assessment Act, under which shareholders in industrial concerns who paid graduated tax on their own private holdings had added on to their own tax tho amount of their interest in the lands held by companies in which they were interested, which already paid their own graduated tax, tho result being that it was made very difficult for local concerns to obtain money for the development of their business, and thereby the progress of the counti-y was Considerably blocked. Under tho amendmeut to the Act of 1912 the shareholders concerns, which could show that they held nothing but land absolutely devoted to business purposes were held exempt from such liability to increased graduated tax on theft 1 own properties, but even if the companies held a square inch of land outsido their business properties, they Eot no relief. Further, it had been held that if a company leased a room in its own business premises to a tenant, that was quite sufficient to stop the shareholders. from obtaining relief from tho clauses which were inserted in the amending. Act of 1912 for that purpose.

The President intimated that the matter would be diseased by the Chamber at an early date.---