WAIRARAPA EMPLOYERS' ASSOCIATION.

Wairarapa Age, Volume XXXII, Issue 9576, 24 August 1909, Page 5

WAIRARAPA EMPLOYERS' ASSOCIATION.

A meeting of the Executive of the Wairarapa Employers" Association was held yesterday afternoon. There was a fair attendance, and the chair was occupied by Mr J. D. Cruickshank. The question of nominating a successor to the late Mr. S brown, employers' representative on the Arbitration Court was discussed, and it was resolved to nominate Mr William Scott, of Dunedin. It was also resolved that a letter 'of condolence be forwarded to Mrs Brown, in connection with tier recent bereavement. The Secretary of the New Zealand Employers' Federation, Mr W. Pryor, wrote with reference to the Income Tax depreciation allowance on plant and machinery, enclosing a letter from the Commissioner of Taxes, to the effect that he had given careful consideration to the representations before him by the Hon. W. Luke and Mr Pryor on the subject of the allowances to be made in the assessments for Income Tax for depreciation of plant and machinery, and he had now to state that for the current and future years the allowance would be—(l) AM expenditure on repairs and renewals (2) 5 per cent, depreciation on half the total value on all plant and machinery; and (3) the deduction for the loss arising on any plant and machinery which has become obsolete or useless, and which has been absolutely sold or discarded and thrown out.

Mr Pryor also stated that he was in receipt of further communication from the Commisaioner of Taxes to tha effect that there is one point he did not mention in his previous letter which must be noted, and that was the allowance to be made when the depreciation is not written off, or is carried to reserve fund under the special provisions of section 86 of the Land and Income Assessment Act, 1908. It could only be allowed when depreciation had been actually written off the assets In conclusion, Mr Pryor stated that the concessions granted represented a considerable saving to owners-of plant and machinery, and he was therefore instructed to request that steps be taken to advise the members interested so that they may be able to take full advantage of them.