INCOME TAX.

Press, Volume LXVI, Issue 20033, 15 September 1930, Page 10

INCOME TAX.

depreciation of buildings. A cliango in the method oi allowing for depreciation of buildings in income tax assessment is the subject of a statement by the Acting-Minister for Finance (the Hon. E A. Ransom). This session's amending Act changed tho basis from capital value to unimproved vaJue, and provided for an allowance for depreciation of building? which had not been made in recent years. The Commissioner of Taxes is empowered to fix the rates of depreciation, the calculation in each case Loing made on the cost of building. The Commissioner has decided to adopt tho following scale of depreciation allowance: Per cent. Wooden frame buildings ... 3 Brick, stone, or concrete walled 2 Reinforced etono or concrete throughout . ... 1* as yet. But one wonders if it is a fair distribution of financial responsibility that members, even in an economy period, should always suggest new ways of spending and Ministers should always bo left to say, "No." It. was so in the Reform Government's timo, and it is still, so to some extent. It should bt- added, however, that when an addition to pensions was proposed by Labour last week Mr Coates and Mr Downio Stewart pointed out tho impossibility oi' finding tho money, and the futility of making such a proposal when the money could not bo found. As they did not speak fpr or against Mr 0 'Brien's Bill they could not be charged with either inconsistency or irresponsibility. Transport in tlie Mclting-Fot. A deputation which, met .the ActingPi imc Minister en Friday learnt, to its surprise, that the Government had been considering abandoning the Transport Amendment Bill (not yet introduced) this session, on the ground that it was barred as a contentious measure. Mr Ransom promised to have this subject reconsidered, but he would give no definite promise of action. Later in the day the House considered the Government's proposals for an investigation of another transport matter —railway lines under construction. The Government proposed to refer this subject to a Select Committee with a wide order of reference, covering the probable earning, of the lines, their development value, alternative means of road trans* port, effect on unemployment, and other aspects. Though the Reform Party has urged an investigation of these new l'Dos, the Government proposal was not received with enthusiasm. Members expressed doubts whether any Committee (Mr Wright suggested even of archangels) could do its work thoroughly in tho time. The' Committee could continue sitting in tlie recess, said Mr Ransom. Then its report would not affect construction until next year, replied the critics. It could give an interim rejwt. said Mr Ransom. One or two members said that this was an attemnt- to whitewash the Government's railway building policy. However, the- proposal was accepted for what it was worth, and tlie Committee set up. ACTIVITY IN THE GARDEM. Spring brings much work 'n the Garden, ana modern tools do it better and quicker. Messrs Hastie, Bull and Pickering Caehel street are offering the latest' Tools, including Stainless Steel Spades. Stainless Trowels, quick-cutting Hoes. Shears for Pruning—the very best as recommended by experts—Lawn Mowers, Hose, etc. Prices right. - —6