ENDOWMENT LANDS.
NO ALTERATION IN TAXATION. (Per Press Association.) WELLINGTON, August 19. Asked whether endowment lands of schools, orphanages, etc., will be exempted from the land tax, and if the old exemption of 15 acres would be retained or extended, the Minister for Finance (the Hon. W. Nash) stated to-day that no alteration would be made this year in the basis of assessment of the land tax. “The only change 1 is in the rates,” be said.
When asked what were the rates on the type of land referred to, Mr Nash said: “Endowment lands of any public educational institution not carried on for private pecuniary profit are’ exempt. Endowment lands of any society or institution established exclusively for charitable, educational, religious, or scientific purposes of a public nature and not carried on for private pecuniary profit are exempt in respect of land used as sites up to 15 acres. The excess of sites over 15 acres and other endowment land of such societies and institutions not used as sites are chargeable at the full rate, except in the ease of religious societies which are assessable' at oim-half of the ordinary rates.”
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Bibliographic details
Ashburton Guardian, Volume 56, Issue 264, 20 August 1936, Page 9
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192ENDOWMENT LANDS. Ashburton Guardian, Volume 56, Issue 264, 20 August 1936, Page 9
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