QUAKE BILL

Grey River Argus, 24 April 1931, Page 3

QUAKE BILL

Insurance Tax ALTEB ATIONS PROPOSED. WELLINGTON. April 23.. The Earthquake Committee, after silting ten days on the Bill, reported back to the House this afternoon’ fe- ' commending amendments in various ’phases of the measure. A. proviso, is submitted by the Committee to overcome the objections to the assessmeut‘on insurance tax. The Bill had originally fixed the tax at 1/6 per £lOO on insurance contracts of all classes, irrespective of period. The Committee changed the basis to a tax of sixpence per £lOO in respect of contracts not exceeding three months, 1./- per £lOO on contracts of from three to- six months, and .1/6 per £lOO on contracts of from six to twelve months. Contracts beyond that were taxed in the basis of sixpence per £lOO for every extra three months or shorter period. Other amendments suggested altered the powers of the Court, making it :neejessary to have the chairman’s vote in the majority decision, also instituting 'more than one court, and giving the 1 Rehabilitation Committee certain powers In mak.* a .grant from the relief funds to relieve distress. The report was received.

There is likely to bp some strife in the House over the insurance tax, the basis of which is not acceptable to certain members.