TAX ON ENDOWMENT LANDS

Press, Volume LXXII, Issue 21866, 20 August 1936, Page 8

TAX ON ENDOWMENT LANDS

■w EXPLANATION BY MINISTER (tusi AuoctATioa tiucumk.) 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 apres would be retained or -extended, the Minister for Finance, the Hon. W. Nash, stated today that no alteration would be made this year in the. basis „of, assessment of the land tax. “The only chdrige is In the rates.” he 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 case of religious societies which are assessable at one-half of the ordinary rates?’ ;