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Hokitika Guardian, 24 September 1924, Page 1

As there seems to lie some inner laiii't v regal.ling the efl.et ot reducing from I" lo o per <enf the uvcr-all deduction from land tax which is provided in the hand and Income lax Ait Amendment Pill, as amended by the Public Accounts ('oniiiiilU c the l’rim ■ Minister explained the position. "I lie change made by the inniniittee,” Mr .Massey said.' "will release approximately L'tlo.lltl!) of the concession in land tax to be made by the Government this vear. litis amount will enable the exemption in respect of mortgages to bq extended. At present there is complete exemption up to iMOOO, tailoring olf till CMltl!) is reached, where exemption disappears. Tile new proposal is to carry complete exemption up to Cl0.011(1 and taper od until at C 1.1,000 il disappears. This will give assistance to a very large class of farmers on good quality land, and, as this land is worth at least L' ill per acre, it is eiisy to see that men who, comparatively speaking are small farmers will get the benefit of the extended exemption.'’

Recentlv publicity was given to the fact flint a quart/, reel supposed to he gold hearing had been discovered in the Rotorua district, somewhere in the vicinity of Mount Kdgecunihe. Hopes were entertained that the find might •prove a valuable one. Specimens of the quartz have now been examined by assayers, and it is stated that the sample submitted by the prospectors showed no trace of gold. Specimens taken by oflieials of the Minos Department showed the reef to he gold hearing, but only to a value of £1 a ton. which of course, is not at all a payableproposition. Ibe prospectors, it is understood, have been advised to put in cross-drives, and when these are finished, Government experts will take further samples of the reef.