THE TAXATION BILL.

Rangitikei Advocate and Manawatu Argus, Volume XXXII, Issue 8919, 12 September 1907, Page 2

THE TAXATION BILL.

Tho Public Accounts Committee yesterday presented its report on the Land and Income Assessment Bill, which is to be considered as soon as tlio tariff is disposed of. Tho operation of Clause 7, imposing an extra, graduated laud tax of 25 per cent, has been postponed for a year. The promise made in tho Financial Statement to put homestead sites on an equal footing with business promises has not been carried out, owing to tho difficulty of drafting a clause for the purpose. Tho provision iu _ Clause .10making tho lessee liable as if an owner for his leasehold as well as his freehold property for the purpose of assessing his rate of taxation—has been amended by excluding from the operation of its provisions leases where Die lease holder lias not had any ownership iu tho land for tho previous five years. Clause 11, which provides xor a shareholder in a company paying land tax as a shareholder, and also adds on his interest in the company to the laud ho owns in severalty, has been modified to make it perfectly clear that ho is only liable for the land tax and graduated tax on his severalty interest as a shareholder iu tho company.