PARLIAMENT

Hokitika Guardian, 17 August 1923, Page 1

PARLIAMENT

[BY TELEGRAPH- —-FER PRESS ASSOCIATION. LEGISLATIVE COUNC’IL. BILLS PASSED. WELLINGTON, Aug. 17. The Legislative Council met yesterday at 2.30 p.m. Amendments made by the House ol Representatives in the Chattels I funster Bill were agreed to. The Amusement Tax Amendment Bill was passed and the Public Works Amendment Bill was read a second time. The Wanganui Harbour District and Empowering Amendment Bill was passed. The ltangitekei Land Drainage Amendment Bill, the Land and Income Tax Bill, and the Death Duties Amendment Bill were passed. The Council rose at -1 p.m. THE HOUSE. LABOUR AMENDMENT DEFEATED. The House met at 2.30 p.m. The House spent the greater part of the afternoon discussing the Defence Report, which was laid on the table. At the evening sitting a number of Local Bills, including the Thames Harbour Board Loan and Empowering Amendment Bill were put through all stages and passed. The Hospitals and Charitable Institutions Amendment Bill (Dr Pomare) was read a second time pro forma and referred to the Public. Health Committee. Hon IV. E. Massey moved the second reading of the Annual Land and Income Tax Bill. WELLINGTON, August 17. The debate was carried on by metnliers of t lie I .-a hour Party until 2.30 a.m. when Hon. Stewart raised a point of order that, the amendment was in substance similar to one alieaiiy moved this session. The Speaker ruled there was sufficient dilference in the text of the two amendments to wari :nt him submitting Mr Sullivan’s ameiulineiit to the House. A division was thereupon taken on it when it was rejected by 51 To J /. Replying to the debate Mr Massey said lie had hoped to bo able to go much further than the Bill went. Unfortunately there had been severe Hoods in various parts of the Dominion. It would cost a great deal of money to repair, the dainugo. There had also t een severe snowstorms in the south, nut the loss in stock would be so serious as to gravely affect the revenue, especially of the railways. Justifying the reductions in taxation, he declared every authority acknowledged that no

country could survive excessive tuxauon, and if what had been accomplished by way of reduction was considered, it would be found that New Zealand had done better than any other part of the Umpire. He reminded the House that if he was going to London he had only a. few days in which to complete the business of the country and he appealed to members to help him pass such measures as wore necessary in the interests of the country. He had been specially appealed to by the British Frontier to be in London not later than 2nd. October and he would just he able to do that if lie left on the 23th. He did not hope to pass either the licensing or electoral hills, but they would be printed and circulated, which would fncihhie discussion and possibly their passage next session. The second reading of the Bill

wax then agreed to on the voices, and ihe I louse rose at 3.15 a. lit. -till 2.30

j'.iu. .Mr J. Golding, of tin? Westport Railway Workshops' staff, had the misfortune to get his right arm broken just !;i.|ore 5 o'clock on 'Wednesday attornoon, by getting it caught in an air lift. THE TAXING BILL. WELLINGTON. August IT The annual taxing Bill "'as introduce:! by Governor’s message and was In-tollexplained by the I’rime Minister. who had lo answer several qurstions. • Ones the Bill reduce the income lax on companies to live shillings in the pound?” asked Mr W illord. “Not- i|Uiie,” replied the Prime N 1 in-

M,. y|; ,i -scy went on to say that members would recollect that there was 10

per cent remaining as sil].er-tilx on land tax. This v. s being knocked out by the Bill, which also had the etfecl cf rediuing income lax hy 'JO per cent. HI round. It also increased income tax on local ; 1 ody debentures fn.ni 2s fid to Is Od in the C.

" A schedule of the Bill sets out ill i-atcs of taxation as follows:

1 and Tax. Where the unimproved value which tax is payable does tmt exceed £lllOO. the rate is one penny for everv pound. Where the unimproved value exceeds £101)0- the rate is a penny for every €1 increased by one iweniv-thousandth part of a penny for every £1 in excess of £IOOO. but so as not to exceed in any case the rate of seven and seventeenth-1 wenueiits ot a penny in the .Cl • Income Tax. -On income tax as-. a!>| ( . under sub-section 8 of soil ion IKS ,f the Act of lOdd (dealing with taxati, „ of debentures), the Kite is to be .Is fid for every £‘> thereof, provided that on nnv such income due heloie the passing of this Ad the rate shall |,a :|s for eve: v £1 On income assess'd,[(. under sub-section •'! of section 118 of the Act of 1023 (referring to debentures), the rate is to he Is fid In’-' everv Cl ihereof, provided that on any sueli income due before the passing of this Act the rate shall be 2s lid for every £1 On the taxable income of all taxpayers other than those already inferred to. the tax. save as otheivi-c provided in this part oi ihe schedule shall be as tollows:

(a) Where the income on which the tax is payable does nut exceed £-!00. tile rate shall bo Is lor every Cl.

(lo Where such income exceeds £IOO Out lU le t exceed £6OOO. the rate shell be lw ilie:o.a: ed by t ne-hnnd:cdtii part oi- a penny tor every £1 in exross oi £4OO.

tc) Where Mich income exceeds i'OOOO the rate shall -he •")- 8d lot every £l. incroased by one-two-huudredth part of a penny for every £1 in excess of £OOOO. but so as not to exceed in any case the rate of Vs Id in the Cl. from the income tax computed in accordance with the last preceding clause there shall in every case he deducted an amount equal to JO per cent thereof.

The income tax payable by any taxpaver as hereinbefore provided shall be’ reduced by 10 per cent of so much t hero fits is levied in respect of earned income of a taxpayer for any year exceeds £2OOO, the reduction provided for by this clause shall be made only in respect of the sum of £JOOO.