THE NEW TAXATION.

Wairarapa Daily Times, Volume XIII, Issue 4160, 9 July 1892, Page 3

THE NEW TAXATION.

Land and Income Return.

Tho Colonial Treasurer yeateiday laid on the table of the House a return showing the results, as far as can at present bo ascertained, of the as aessuicnt of laud nnd income. The ordinary land Tax is taken at Id in the pound on land and mortgage*, less amounts owing on mortgage, mid less tho vahio of improvements up to £BOOO for each owner and tie exemption, i'lie total taxable value for Jand tax is £55,105,920 wlsi.-h at Jfcd in tho pound gives £220,0(K In ieyyiug the tax it would b' 1 pntdom not to estimate its yield at nwr- than £219,008, which reduction of £IO,OOO ought to cover all reductions that can be necessary. The absentee graduated tax has not yet been calculated, but the result will not be important as regards ibe revenue. Many alterations may have to be made in finally adjusting the assessments for graduated tax; the result now comes out at £72,807, but it would be prudent to allow foi a reduction of £SOOO. The yield of income tax from companies, including tax on debentures, is estimated, at Is in the £, at £47,000. The total debenture del't of companies is about £10,000,000. Tho summary of income tax is as follows : —Companies, £47,000 ; businesses, £26,705; employment and emolument, £14,038; total, £87,748, The present result from returns ol income is £40,749, but it is estimated that this will be increased to £45,000. , The following may be accepted as the Mi-esults that will bo roached:—Land ''taxes, £'210,608 ; income lax, £67,807 ; companies, £47,000 ; business, employment, and emolument, £45,000; total, £378,915,