INCOME TAX ANOMALY.

Hawera & Normanby Star, Volume XLI, Issue XLI, 15 October 1921, Page 7

INCOME TAX ANOMALY.

(By Telegraph—Special to the Star.) WELLINGTON, Oct. 14. i Attention was called to a, remarkable anomaly fn the income tax assessment methods by Mr Witty today. The question hinges on the official interpret tation of the word "business." if a man in ordinary business runs a farm . and loses on farming he can group the '. whole affair and the net result is sub- j.i jeet to taxation, but if a .salary earner .-■* conducts a farm at a loss he is liable ; for income tax on his salary, regardless of the loss from his other activity. Mr'K Witty asked the Finance, Minister to correct this anomaly. / j '. Mr Massoy said he was not aware of ; ; it, but undertook to have the matter i < investigated, for if it was correct it i required amendment at the first oppor- ■ i tunity. •■...: ; ; INSURING PUBLIC BUILDINGS, j ' Several years ago the Government4 , instituted a fire insurance fund for I public buildings which had hitherto! been uninsured, and a sum of £10,000 \ had to be invested annually against: ■ this contingency until a total is reach- i ■ ed of £100,000, when the fund is to be maintained at this point. The Post-master-General was able to inform the House to-day that £60,000 is invested • as an insurance fund with the Public Trustee. Some public buildings have been replaced from the fund. , Post offices were covered, but the railway stations, for some reason, had not been included. HELT» FOR CROWN TENANTS. To assist tenants of Crown leaseholds, especially on pastoral country, during ihe period of low prices for meat and wool, Mr Isitt suggested to the -Minister of Lands that they might secure €he postponement of"'rent-without having the handicap ol 10 per cent. addition for non-payment to date. j - The Minister of Lands replied that anything the Government can do to ' help its tenants would be done. He ' viewed these cases symapthetically, and ] 'had been able to give this assurance '• to a number of firms dealing with ] Crown tenants who. had made representations in their favour. I Mr Forbes: "Does it require an > amendment of the law?" j' Th« Minister: "No." j! .. I'