Important Judgment.
■■■■■an: 1 . . ':■.. w>iy. #..',!! ■<;;; ■ '.'■< n- . (Bt;'TKLEGRAPH.j; / .I d ' 1 : ; • (united press' : association.) ■ J i'.-ni'. ■> :, ■'. ■ DoNBDIVi ->Mai<iln2^. n , : '-MrOarewj Resident Magistrate, has ' ''given an impctftant 1 judgment upon a -Question raised bet w.eeir th« j British and New Zealand Mortgage tind Ajgency Company and—Property Tax Commissioners/ The ! iqn©»sti<m for decision was whether the company wais liable to 'be assessed for property tax upon* the sum. of £60,000, l'epresenting the price (A.i which-it purchased,* and the goodwill! of its bnsinpss. The question had 1 to 'lYe considered under/ two heads/i First, ' whether a : goodwill is property liable to be assessed under the Property 'Assessments Acts; secondly, if- gpod-. 'will; is not property onlindrily.Jiable to, 'tie assessed; does the company ; become liable from the fact that i there, is an entry m its balance-sheet showing ,'|hej goodwill entered as having_.a .value ' of £60,000?, -His Worship decided that the company- was not liable td be assessed on the (goodwill, i |H^ef thought the Legislature had not intended ; the goodwill to . be a under the '.Act' ; tf-fj lylin.o fe ):'.l:: >;><yi n._. '' i: '
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https://paperspast.natlib.govt.nz/newspapers/MS18840327.2.14
Bibliographic details
Manawatu Standard, Volume IV, Issue 103, 27 March 1884, Page 2
Word Count
179Important Judgment. Manawatu Standard, Volume IV, Issue 103, 27 March 1884, Page 2
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