PROPERTY TAX EXEMPTION.
With respect to tho Property Tax payments due on the Ist proximo, it may be well to mention for the infonmtion of those who have not yet made thems‘-lves acquainted with the A*l o' last session, that the Act makes one or two material alterations as regards the £SOO exemption. Hitherto persons who were partners in any firm or company were allowed to claim not only their individual personal exemptions of £SOO each, but also a joint exemption of £SOO on behalf of their firm. This is done away with by the Property Assessment Amendment Act of last session, which provides (in section 5) that “ No person or company liable to assessment either in his or its own name, or by an agent or trustee, or jointly with any one else as his partner, and who is so assessed in more than one district or in respect of more than one statement, shall be entitled to the benefit of more than one exemption of property up to £500.” But trustees are entitled to an exemption of £SOO for each “ benefi-iary whose trustee they are. It is well th.it these changes should be generally known ami understood, in order that personal inconvenience may be avoided.—Evening Post.
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Bibliographic details
Patea Mail, Volume IX, Issue 1118, 28 November 1883, Page 3
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208PROPERTY TAX EXEMPTION. Patea Mail, Volume IX, Issue 1118, 28 November 1883, Page 3
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