TAXES ON BOILERS.
Repkesextations were recently made by the Advisory Board of the New Zealand Employers' Federation to the Commissioner of Taxes regarding the allowance for depreciation of 5 per-cent, on the half value of engines and boilers instead of on th© total value of plant and machinery. A reply has been received by the board from the Commissioner, stating that the matter of allowances to bo made in assessments for income, taxes for depreciation of plant and machinery had been carefully' considered. For the current, and future years allowances would be as follows:—(1) All expenditure on repairs and renewals; (2) five per cent, depreciation on half the total value of all plant and machinery; (3) a deduction for loss arising on any plant and machinery which has become obsolete or useless, and which had been absolutely sold or discarded. Copies of the letter are to be sent, to bodies affiliated to the Employers' Federation, and the whole question of depreciation allowances will be discussed at the. annual meeting.
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New Zealand Herald, Volume XLVI, Issue 14144, 20 August 1909, Page 3
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169TAXES ON BOILERS. New Zealand Herald, Volume XLVI, Issue 14144, 20 August 1909, Page 3
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