Land and Income Tax

Feilding Star, Volume XIII, Issue 67, 3 December 1891, Page 3

Land and Income Tax

ri'T'i r— • r • -. A reporter of the Otago Daily Times luw interviewed Mr O. M. Crombie, the ComaueiQuer of Taxes, with a view oi getting a' clear lSea of the way in which the newjliaud atid Income Tax is proposed to be Toyied'/Hr" Crombie during the interview Baid :— As to the.lncomo Tax, i nd'-steps viliaveKlw^taTceh in icbrinection v Swlih-it^a^no Sne^e^Tax' returns will iw^u^itiUJifterithe .^lst of .March oS^nwtt:^ T^eK^ieemi^tpj Jbe some, m^snnder•:'"="^id^:tbat^tliej'onKlity^maKe7th9^Wcomp S Tax iiirurn^at]tHe^ameTtime" a¥theLand A ; ;Tax",returns^;^*;-r:~ '*"'. "'; , , V-' v^-^j^M^i^^^maJD^QSv ■■'■' ■ \ ;F^ fte^andiiitfcithe i colony' will be valued by BBsesiwjnf-- appointed ; fbrjsh'e: various dist ricts and 'the assessors willinake returns of :the ' : imiproVe'3' : valae.^the value of iinprbvementsiand- the • nriiinprovied; ! value. It-:M::-pro_yid^ia^8Qhed^e7; Av.;of .the Act that:" actnat; vailtie ijii. means the capital ' value yfic tthe^feeVsimple of the land, .- with ■•;'^fiim^rp^nMMotSf r if aiiyj can be - ]mreKial^^')fo|br^hV-i-iT;K«re'r-i8..; to be no ' -''d^qetiod7'^m^ia':bycW(iy'oiF- percentage _^ v aUowance, ?i^i?;|ot pnipose r pf^the >» s for<srieral ; 'and I mention; :this because->it is by some con-, -'"" eidered thSt{?essVthah r tfielactual valne ' ahould be taken 3or3axing : and" rating pur- "'":■ poseiiif jNoV^lpußtyconsiderable difficulty :-^Will"t be exp«rienced- -m? estimating the TSl^Wfi;^im^p^v^mienfej; anSfthe 'carefol the^ defiaitibtt J •wbach^appearfeinvboth: ■chedules^la^B^^TKe'def^tioii'isras' ;Vliflpri)V»imentß ; inclaqing houses and bnUdinga.f enow, -planting, draining of land.-deaMgfrombm^ laying down ■irif'graßS' or pasture, I'or1 'or any other improyementwhatßoeTeri the I>eneof /\ : - ; 'rt. ; ;i^lMiK6ni"^'t--. ; - i^; ;^->-v ■"■''" ''-■ ■-. It sKouyd^j^'^llwrnelifi mind that deductfun cannot v be- insisted qn^for.the cosiof imprbvemfthte;' but for their uhexhaufltMiw^e^onlyijiot.ifc'imajr^be put in tbis;way^nqthing can Jbo deducted which has Hot'been) taken into account directly \~'arlAn&v&ily:*m':J?*lvdng the property. Queiilaonß; ? ioyq<b»^nused as to the : nghfctb^m^e^^acnons^on accquntof publre'drains or {^ttter*itees which' pass through land or 'it by draining it, for;il!«pgin^waiter? L te ; but no siich! aeductio'nsra^ and bo cla^d v nnder/ ;^ category as .'nftiM&^indy'Jira^^ flic 'l :^pT^a^tM^m^:jasß .flfirougt^it^ but ■ >thJB v ftWtierl^bWdWot f; thinfe of claiming oniadcountjof 'the valufergiven t to ius land ; ■^ J^j£e^!M&jsM jfetir^^iEi^ alloj^r ejf ; \ ■ v»^jre^iMtion7forsdiHuna;;OT water-races; ":si^e^b^the^^ ojfn^ppst on ! :■ j y expe^|elice! \ : -*'-''-t^r^^^^^^wthe.iVßltie;jbf 'land m sam^ characteri " ind-sitßilarlj f ltuated ?" The^ifference! bVtwSro^BucJiTValue i and the value of^ffie] pro^rtj.ais.aVwliole Bhpuld^be~taken toi : s jrelren#-OTe^ proYemeritfepbntithW'reshltwuldoubU^ often differ iniost^ r mat6rially from thepWher'sestiin'ate^pf: the' cost of improve- \ • toe'nisS^heV extent .of gmprovementjioi < ]ind^l4yjiis^^ it r dp.w n im:^aßft3vai joft^n^ , be; difficolt ; to; ascertain,: and itr may be; remarked thVtin some to|nct3Yan injury | ' ratner than 'a benefft Iffas Resulted 'fromj vtheSbjeaking :'. -vpj^fj|^^.-lkiiid;^ r j|lhe} - jaln^^^n^3p^^rinvg)ra r ss, •will ; 'Yary;so| . S -nmcl^b^^^^si«anpbe >. applied to ; it,j ' and'^e'ani(^^^alloweßasdmpr^ - menjt wul be e^stiniited by the assessor in; i^eicifccajße jas ty its^erits.^ Bnildings canj be more easily vaJned j 'their age, state ofj , repair 'i'andjpreseri t 's"&&' of erebtin^ eiini-J lar buildings being the principal points for! consideiratipn. ,As a rale theyalue/of iua-j . : "-? iiy^pimdSb^^heck?aff6raed by 'estimating vibe^priesent faloeiof the land-less improve-' ;^?illOTtßi|iß^<ba^aWe^f;jb"eing^ much more' ■ exacrtyj^pplied, ias^the ;price per foot of ; f Montage,- or thfivprice of the bare section ■ ' ; ~~%^&^ssis!&'< : s& 9^ LAND.' V. :iax;/wjjl be, levied on the '-7^sW^^f'".'an^lM'd3i.^?oyenienta; of. an ■V^qTO^i^jwd^ptf^^rtßiges.-'lield by him| ;Slfes mpßgYigeslpwing by him, if any'j with adedhefioriofiniprovements'upto ? A farther allowance by way of exemption is graStedlpf if the valueof lands r: and mortgages, iless^mor^ owing and value of improvements pip to £'3000, does if itr exceed^ :'^mK^^ r ioli;;exceeSL ajgradually ■ -^3wreifli^94u^mpi3onVis < - :^ow^/flncl''no exemption is allowed aboye £2500. 'The s - "^fledt^ti6n^by^y?ax-pf - exemption will be -inaarjnHhe fpindQFax Omce.^and'no^by :\ifiJß^oiniei : .Jii;;.hurMtarii. No mortgage .otKer Jth^l.one/iregislered cneedjiberre;- I turn^ by, the>pwner,..ana no owner of ; ."■■ land will Vej^SlovrajiJtb claim deductions : tfpf,»ny^d^bVpwing;in re^p^ct of.hisland, , ."^Wnli^^iJ^^ctired:' By' 'a ; : j*Eigißiere^l'mor^ : m : iU^^/ii}sim^i^VJiTEji',TAX. :'■'■ ••' ! JB^to g^i^dtex!^land'wflibe levied onalbaßiß verydiflerent from that on -" wlnchithe! Jprdihary fjjand t Tax : will be Siß^rged^ ;.The: present value of imprpyet ,deducted, f .-ment»,wil;be but. no deduction '. mbney/.o'wijDg'on vmort- ' and' mortgages owing, to'an'owner - are not assessed for the graduated Land Tax.- ::Tbe'"nnimproyed value of land will ~ ' be'aißießsed'forthistax, and an owner will not be charged if the unimproved value Jjipt ill; jb^^dApnld.not,reach JESOOO. ; .(To;, be Continued.). ...'.. ;