LAND AND INCOME TAXES

Evening Star, Issue 19319, 4 August 1926, Page 2

LAND AND INCOME TAXES

NO CHAHSE [From Our Parliamentary Reporter] WELLINGTON, August 3. Amendments to the Land and Income Tax Act were introduced in the House of Representatives together with the annual measure fixing the rate of taxation. There were immediate inquiries as to its nature. I hcvro is no change in taxation,” stated the Prime Minister. . As to the amending Rill, it was explained hy Mr Downio Stewart (Minister of Finance), who had returned to the House restored in .health, that it was a purely technical measure to deal with difficulties of administration covcrin°* such points as absentees who were Government servants, the assessment ol income of non-rc-sklcnt tnulers, aun other matters relating to the assessment of taxation. There were no policy changes. The Bill contained a variation frowi°the former provision in regard to land tax payable by Natives. This must not exceed one-tenth of the total revenue derived from the laud in the year preceding assessment. Another clause provided that a taxpayer is entitled to an allowance under section 8d of the principal Act in respect oi improvements in use during the income year, notwithstanding that the improvements may not then have been valued* The employer in New Zealand of a non-resident taxpayer is empowered to deduct the taxation from salary, and similar power is given in respect to pensions or superannuation payable to a non-resident taxpayer.