PARLIAMENTARY NOTES. j

Hawera & Normanby Star, Volume XVIII, Issue 3200, 16 August 1892, Page 3

PARLIAMENTARY NOTES. j

(SPECIAL TO STAR.) WELLINGTON, August 16. The Speakership tioubleiß compromised. The Speaker will explain this afternoon that the first ruling re taking down the words' jwas erroneous, and the Friday s ruliiiK^" 6o4 ' Mr> MoKenzie will then withdraw bis motion. At one stage of the n&ottations Mr. McKenzie threatened tp resißn it compelled by Cabinet pressure to withdraw without an explanation by the Speaker. TWb settles the matter so far ac Government are coacerned, but the Opposition mean to have a say upon the position. . . a- r± Trouble is also anticipated over Sir W. Grey'B question of Council appointment and rejection of Ministers' advice. The Opposition intend anticipating the question by raising a debate. The Land and Income Assessment i3ill will be introduced in the House by message from the Governor this afternoon. The principal provision is that the exemptioD of £300 in respect of income tax Bball be allowed to every person, whether individually or as a member of a firmthat is to say, it a firm oonsists of three or more persons and each person has no income ontaide that derived from the firm, he will be entitled to an exemption of £300. It has also been determined to exempt from taxation land and mortgage* of Prienaiy Societies ana Savings Banks. Appeals against assessment for income tax are to be heard by a Resident Magistrate instead of by a Board of Beview. With reference to what has been known as "double taxation" in connection with money borrowed on debentures, the bill will provide relief as follows :—Where money has been borrowed on debentures and then lent on mortgage, tbo company so borrowing money, on debentures will not be required to pay income tax on account of aebentureholders. The effect of this will be that a company borrowing money un debentures and actually lending it on mortgage will only pay a mortgage tax and will not bb nailed upon to pay income tax in respect of interest paid on the debenture money. PsiUionß Committee recommend toe appd&tmenti of a railway route committee. ( Prelbier promises to lay all correspondence as to proposed appointments to the i Couooil on table. No calls will be made till reply from Home Office.