The Feilding Star. SATURDAY, APRIL 2 1892. The Income Tax

Feilding Star, Volume XIII, Issue 118, 2 April 1892, Page 2

The Feilding Star. SATURDAY, APRIL 2 1892. The Income Tax

The regulations in connection with i the income tax have been gazetted ' and returns must be made within fourteen days of the issue of the necessary forms and not later thau the 18th of April. Every employer is required to furnish the names of all his employees receiving over ' £160 a year, with the salaries paid to them, besides his income deriyable from business as follows : — From interest on money deposited, from interest on bonds, debentures, &c ; from annuities or other annual payments ; from trade, business, or manufactures in or out of the colony, from pastoral lands of the Crowu ; from mining or other sources. From the gross income available from these sources is to be deducted any " Losses, outgoings, and expenses incurred in its production." Gross incomes derivable from employment or emolument are to be returned ; From profession, employment, or vocation ; from salary, wages, allowances, pensions, stipends, or annuities not charged on land, from commission or profits in lieu of 6tilary ; from any other source. From these may be made a similar deduction to that already stated, and from both classes may be deducted the amount paid for life insurance premiums up to £50, and land tax on premises occupied by the person making the return. Incomes derivable from land or the produce of land, or moregages on land, need not be included in the returns. The Act provides that in the case of individual salaries each person will be allowed a total exemption of £300 per annum. In the case of incomes derived from business exemption to this amount will be allowed for each member of a firm, provided that no person is allowed more than one such exemption. It is specifically laid down that deductions may not include sums expended in repairs oi premises, or repairs or alterations to implements or machinery used in the production of the income, beyond tbe sum usually expended for such purposes; or losses not connected with or arising from the special business or employment from which the income is derived. Nor may they include bad debts, except such as are proved to be bad to the Com mis sioner's satisfaction ; disbursements or expenditure not being money wholly and exclusively laid out or expanded for the purpoaea of the taxpaper's business or employment ; expenses or maintenance of indivividuals, families, or domestic establishments ; rent or value of any dwellinghouse or offices except such part as may be used in earning the income ; or sums expended for any purpose distinct from the purposes of such business or employment ; or interest on auy sum used as capital in the business.

It will be seen by our report o£ the ; meeting held by the members of the Feilding Fire Brigade Last night, that Mr J. C. Morey has resigned the position of Captain of the Brigade as the state of his health will net permit him to carry out the very onerous duties of the office. In this connection we can state with perfect truth thatthe present very satisfactory position of the Brigade, both as regards men and money, is almost entirely owing to the skill and tact exercised by Mr Morey in carrying out the responsibilities he undertook when he joined the Brigade.