TAX ON INCOMES

Rotorua Morning Post, Volume 2, Issue 212, 2 May 1932, Page 5

TAX ON INCOMES

("Post" Special Commissioner).

PRESENT RATE TO STAND AND INSTALMENT SYSTEM PROPOSED OTHER MEASURES OUTLINED

WELLINGTON, Saturday. An indication of the concluding legislation of the session was given tonight by the Prime Minister, the Rt. Hon. G. W. Forbes, who announced that in addition to other measures it is proposed to submit the annual taxing bill to the House next week. Mr. Forbes said that the measure would reimpose the existing rates of income taxation, including the surtax passed last session and there would be no increase in the rate or any interference with the statutory or other exemptions. He also intimated that a clause in a finance bill also to be introduced next week will inaugurate the practice of payment of income tax on an instalment basis, as was done in Great Britain. "By fixing the rate of taxation now," the Prime Minister added, "it will be possible to issue assessments much earlier than is usually the case and enable the scheme of payment to be spread over a longer period." In reply to a question, Mr. Forbes said that the promised legislation dealing with State Advances mort-. gagors would be in the direction of giving the Superintendent of the State Advances Office wider powers in relation to remissions and rebates. Other measures were that designed to extend the life of Parliament from three to four years, which he anticipated would be passed without a great deal of trouble; a short land laws amendment bill enabling the Orown to grant relief to certain of its tenants; an amendment to the Fruit Control Act to allow Otago fruitgrowers to determine; by referendum whether their produce should be marke-ted under the control scheme, and legislation ratifying the trade treaty with Canada would also be introduced. The Prime Minister said it was uncertain whether legislation would be necessary in connection with the trade agreement with Belgium signed last year. "We will finish easily by next Saturday," said Mr. Forbes when- asked when he expected the session to end. He added that if the question of extending supply authorities arose, that matter could be dealt with in the finance bill. No decision had yet been reaehed concerning the time of the opening of the ordinary sesson of Parliament.