PARLIAMENTARY NEWS.

New Zealand Herald, Volume XXVIII, Issue 8630, 28 July 1891, Page 5

PARLIAMENTARY NEWS.

~■••■•■" . ■■■■:'•, ■ ..■• -... I - : -:<;<a -I [BY TELEGRAPH.— SPECIAL CORRESPONDENT.] ,-*. • , - Wellington, Monday, THE TAXATION PROPOSALS. THE amendment of which Mr. , Saunders has given notice, to be moved when the House is considering the taxation in com-: mittee, ie designed to exempt improvements, He proposes that the value of all* improvements upon laud shall be deducted from the assessed value of the land instead of a deduction being made as at present proposed of only £3000. He intends to amend the definition of "improvements,' which means in the Bill, houses and buildings, fencing, planting, draining of land, clearing from timber, scrub oc fern, and laying down in grass ;or pasture. .What Mr, Saunders proposes is, that the term " improvements " should mean all factories and fixed machinery of every description, all dwelling-houses nob exceeding £500 in value, all farm buildings, fencing, planting, draining of land, clearing from timber, scrub or fern, and laying down in grass or pasture. ' He proposes that the second - clause of schedule A should be amended so as to read as follows :—'' When the assessed value of all the land of any owner, less the value of ' improvements Tshereon, and the amount duo or owing on mortgage as aforesaid, does nob exceed £1500, there shall be deducted by way of exemption ■ a . sum of £500, after which the amount of such exemption shall diminish by £1 for every £2 that the assessed value of the property increases, so as to leave no exemption on assessed values of more than £2500, provided that only one exemption shall be allowed to an owner of land- when such value and the amounbdueor owing to him on mortgage do not altogether exceed £2500; but if the assessed value of such land and mortgage, lees deductions, shall exceed £2500, then no exemptions shall be allowed." Mr. Saunders considers that there will be no loss of revenue if his amendments are agreed to, because, while improvements are relieved from taxation, he proposes that only those buildings which do not exceed £500 in value shall be exempt; this means, therefore, that the Government will gain con* Biderable revenue in the large towns, where i there are many buildings whose value is more than £500. '. He wishes by these means to exempt the houses of the poor from taxation. Mr. Saunders, who is a strong Government supporter, did not consult the Ministry before giving notice of his amendment, but he will have their concurrence when moving it., .' 1 ,