TAXATION BILL.

Hawera & Normanby Star, Volume LXIX, Issue LXIX, 28 September 1915, Page 7

TAXATION BILL.

ORIGINAL .PROPOSALS MODIFIED

i&Tt TkLBGBAPH—SPEOIAT, TO STAB.j WELLINGTON, Sep. 28. v The Taxation Bill to be brought down to-day will contain some important alterations on the original proposals. There will be an increase of taxation of one farthing on mortgages, bringing the tax up to a penny in the f™,£k c in ?rease will represent about £60,000. There will also be an adjustment of taxation on mortgagees who now escape increase in the shape ot war taxation. The increase will be in the direction of providing for income tax after deducting the amount paid on mortgage by way of land tax. The alteration will ensure paying income tax upon receipts over and above what amount would be taxable under the old mortgage system. The estimated additional revenue is about £30,000 annually. ■ I

Beer \ duty will be increased to the extent of about £20,000, or a total in-x crease of £70,000 .to £80,000. The tax on mineral oils and motor spirits will be withdrawn, the difficulty being the impossibility of discriminating between oil and petrol, used for industrial purposes and for pleasure. The £194,000 tlms remitted will be made up. by additions to Customs. Telephone bureau fees, which it was proposed to double, will also remain as at present, threepence. The gross increased revenue on the whole of the modified taxation proposals will be about two millions, as under the original proposals.