PARLIAMENT

Hokitika Guardian, 5 September 1924, Page 1

PARLIAMENT

[by TELEGRAPH —I'EIl I'ttESS ASSOCIATION LEGISLATIVE COUNCIL. WELLINGTON, September I. The Legislative Council met ill 2..'10 p.m. to-day. Tin- Chattels Transfer Mill a consolidation measure was read a lirst, and second time and referred to the Statutes Revision Committee. The Copyright Amendment Mill and the Extradition Ainendii-.ent Mill were each passed without amendment. The Mirths and Deaths Registration Mill and the Sale of. Food and Drugs Amendment Mill were ini miliiei d from the 1 louse of Representatives and read a lirst- lime. The Council adjourned at ‘J.-'IO p.in. till !?.:{(» p.m. next Tuesday. HOUSE OF REPRESENTATIVES. TAXATION REDUCTION. The House met at '-’.•’’.tb In the House, the Annual Land and I nenme tax I.ill was introduced by Governor's message. I In- premier stated that there would he a reduction of the land tax. of tell per cent., and in the income tax of U l--‘l per cent. Another Mill would he introduced later on which would provide for lurthcr reductions which were promised in the Kiulget. Mr Holland indicated that the Labour Party would oppose the remission until the public servants’ salaries were restored to pre-war values in purchasing power. A number of local hills were passtsl and several government hills were advanced a stage. The House rose at 11 p.m. till -.JOp.m. to-morrow. PItOI’DSED TAXATION REDUCTIONS The schedules of the Taxing Mill prescribe tbe following rates ol hind and iiirniiit' lsix for tlu* year comnipnpinji on tin- Ist. April. I'JIM: LAND TAX.

1 .When tin- unimproved value on which land tax is payable does not cx-,.,.,-cl the rate of land tax shall, save as oib'-rwic provided ill this part of Ibis schedule, be Id lor every £ thereof. o, Wlu-re the unimproved value on which land tax is payable exceeds c£|!i;:;) the rate of land tax shall, save as olheiwise provided in this schedule, be |.l fell- every 2 thereof, increased |,v I went v-t hoiisa lull li part ol Id for every C iii excess of £|(H). but so as not, lo exceed in anv case- the rate of seven and .--evciiteoii-Lw.-iiliel.il Id in the £. . H. From tin- land tax. eciinpilled in aeeordaiiei- with the foregoing provisions of this part of this schedule, there shall, in every ease, be deducted an nnioiiiit c-cpial to ten per centum, t hereof. INCOME TAX.

|, ()o income assessable under subsection CD of Section 1 Hi of tin- Land mid Income Tax Ael. I'.CJ. and derived fi-otn debentures issued In-lore UStli. Anirn-t. Ili-J'L llm ral- of lax shall be :ls for every Cl I In-rc-cif. o, cin intone- assessable under sllbseeiiiui (ID el Section lII' ol th" Land and Ineoine Tax Act. I!LH. and derived from debentures issued en or after the s: i ill os't b. of August. MJJ’L the rate of inciiie lax slndl be Is (id lor c\ei.\ Cl thereof. I 111 iiu-oltv.- assessable under siib-see-I inn It of Se- tia nl IK of the Land mid Tax Act. 1 tlg’H. and derived limn cb-bc-iil lirc-s i sued lu-lore I’Slb. \ci:-n I, llr.’:t i In- i ale of ineoine lis .-ball I v g l-l lot every -‘I I there.d. (In income- ass.-ssable under subsection 11 of Seel ion lIK of ibe Land mid |,noon- Tax A.-l. I ill’ll, and deriv.-d fr.mi cb-beiii iirc-s issued on or alter tinsaid ‘JKill. August. I'J-Jlt. tb - rate of iiieone- tax siial! be Is ltd tor c-\et,v id tlicS’roi. On tin* im-niiu* of nil tn\pavers. Ollier I bail those referred •'» in'tbe lasi two preceding c lauses, the rates ul iiieonn- tax shall, rave as other wise provided in this part of this schedule. he as follows:

(a) Where the* ineoine on which taxis payable dues not exceed £IOO. Hm rate shall Im Is per £1 thereof. (ID Where an ineoine exceeds £IOO. hilt, dues not exceed COOOO. the rate shall he Is for every Cl thereof, increased liv one hundredth part ol 1(1 for every L'l in excess of L’loo.

(e) Where such ineoine exceeds L'OOOO the* rate shall he As Kd for every £1 t hereof, increased bv one two-liun-cln-chll pari of Id for £1 in excess of ICO MO. bill, as not to exceed m any ease' the rate of 7s Id in the £l. 1. From tin* incnim* t;ix juiynMi* anv lax payer, es hereinbefore provided. shall be reel need by ten per centum of so much thereof as is levied in respect of earned ineoine. provided l.liet if the earned ineoine of the taxpayer for any year exceeds £2OO, the rednetiioii provided for b\ this clause shall be made only in respec t of tlm sum of L'2ooo.