LAND & INCOME ASSESSMENT

Taranaki Daily News, Volume LV, Issue 100, 13 September 1912, Page 5

LAND & INCOME ASSESSMENT

THE AMENDED BILL. (By Telegraph.—Own Correspondent). Wellington, Last Night. The Land and Income Assessment Amendment Bill was reported from the Public Accounts Committee yesterday. Clause 8 of the Bill as it was introduced was struck out, and a new clause was inserted providing that an agent of at non-resident trader may apply his principal's money in payment of taxation, but penal proceedings are not to be taken in securing the payment of such taxation until the expiration of six mouths after demanding the same. A new clause is inserted making land held by a natife liable to taxation, as if it were owned by a European. Exemption is also provided for persons who can satisfy the Commissioner that their income is liable to taxation elsewhere than in New Zealand. In regard, to the clause in the Bill providing that the unimproved value of land is to be determined in accordance wij;h the district valuation roll, a new clause is inserted providing that any land which is liable to be assessed for graduated land tax is returned for taxation at an unimproved value in excess of the amount at which it is returned on the district valuation roll. The amount so returned shall be deemed to have been returned on the district valuation roll, and shall have the same force for one year as if they were returned in accordance with the Valuation of Land Act. Another new clause (12a) includes roots ■of flax plants in the unimproved value. The law relating to assessments is altered by the committee in the direction of giving objectors the right to appeal to the Supreme Court, where the amount in question exceeds £2OO. but a magistrate is given the right to give leave ; to appeal to the higher Court on questions of fact where he thinks fit. In such cases the Magistrate is required to set forth the evidence instead of the facts as found by the Court. The Supreme Court, by virtue of another new clause, is entitled, if it think fit. to rehear the whole of the case. The clause of trie principal Act, making shareholders liable as if owners of a company's land is, by a new clause (41a), made 'inapplicable to a company (a) whose principal objects are of a manufacturing or mercantile nature, and which owns or holds lands ■ for the purpose of, or m connection with, or as an adjunct to, the manufacturing or mercantile purposes of its business and for no other purpose; or (b) whose principal object is the lending of money, unless the company also owns or holdsj lands other than its business premises.! The clause providing for the income of' married women being included in a hus- : band's income for the purpose of taxa-; tion has been struck out. The schedule of the Bill has been struck out in itsentirety, and the assessment of taratidn' of flax lands is not to come into "force' until April 1, 1913.