LAND AND INCOME TAX BILL

Dominion, Volume 13, Issue 296, 8 September 1920, Page 8

LAND AND INCOME TAX BILL

SOME IMPORTANT NEW PROPOSALS ' MEMBERS DISCUSS LIQUOR AND PENSIONS . The liquor question was on the floor of tho House of Representatives early yesterday afternoon. The presentation of a return showing quantities of liquor taken into no-license districts provided tho opportunity for debate, and tho partisans on eijher side had a busy hour, the chief point at issue betas the effect of prohibition upon tho consumption of liquor. Figures were quoted to show that New Zealand's consumption of alcoholic liquor was increasing rapidly. later in.the afternoon members talked of pensions. They had so many things to say on this subject that the annual report of tho Pensions Department wa9 "talked out." The-Minisier of Defence mentioned that tho 75 per cent, increase in war jiensions asked by the Returned Soldiers' Association would cost an. extra ,000,000 annually, and Mr. Massoy said that although the Govern, jnent .intended to make some amendments in the pension law, an increase of a million would be out of the question. • The Land and Incomo Tax Bill was introduced in the evgning. This Bill, •which has been considered by the Finance Committee of the Honse, proposes some important changes in taxation for nest year. It gives some relief to mortgagors, -itacreases the land tax on the larger estates, make 3 adjustments in the income tax, provides penal taxailion for improvable land held in an unimproved 6tate, makes municipal and Government trading departments 'and co-oporativo dairy factories liable to income tax, increases the exemption from itacome tax in respect of children, and deals with many other important matters. After the Bill had beon formally introduced,' Mr. Massey explained some of its provisions and-a brief debate (look place. ' Then the House proceeded to deal with tho annual Land and Income Tax Bill, which merely confirms the existing rates of taxation for the current year; ' A general debate took place on tQiis Bill, an amendment being moved relating to the cost of living.