NEW GOVERNMENT BILLS.

New Zealand Mail, Issue 1180, 12 October 1894, Page 33

NEW GOVERNMENT BILLS.

LAND AND INCOME ASSESSMENT. By the Land and Income Assessment Acts Amendment Bill, it is provided that returns of land and mortgages shall ba made as at noon on the 31st March, and, that returns of income shall be based upon the income derived by the person or company during the year immediately preceding the commencement of the year of assessment. Every assessment of land and mortgages for the triennial period commencing on Ist April, 1892, shall remain in force until a new assessment is made, provided that assessments existing before this Bill may be objected to and reviewed. The Commissioner may make new assessments as he thinks necessary. Boards of Review are abolished, and objections shall be heard by the Stipendiary Magistrates. No assessment of income shall be heard in open Court. The assessment for the Deceased Persons’ Estates Duties Act shall not be compulsory. With regard to the assessment of income tax payable by banks, the following is proposed instead of the law now in force : —“ Every banking company shall be assessed for income tax each year upon a sum representing seven shillings and sixpence in every one hundred pounds of the average of its total assets and liabilities for the four quarters of the pre- 1 ceding year ending the 31st day of March, according to the sworn statements published in the Gazette .” Interest on mortgages is not to be deducted from income, nor are losses, expenses, &c., in connection with land or mortgages to be deducted. There shall be no deduction in respect of any accident insurance premium. Interest on mortgages shall not be included in land tax returns. • DISTILLATION BILL. The Distillation Act Amendment Bill provides that: the onus of proof shall rest upon the person charged with a breach of the Act, instead of upon the Crown. No witness shall be exempted from answering, on the ground that he may criminate himself, but such a witness may receive a certificate from the magistrate, stating that he was bound to answer the questions, and this certificate shall stay any proceedings against him upon this evidence. The Bill is to be retrospective, and shall apply to all offences against the Act since the Ist January, 1869. GOVERNMENT LIFE INSURANCE BILL. The Government Life Insurance ''Act Amendment Bill, as already stated in thei Times, enables the department to invest only one-fourth of its funds in Government securities, the remaining three - fourths being permitted to be invested on mortgage outside. No one loan on mortgage is to exceed <£lo,ooo. The Bill extends the power of the Commissioner to sue or ba sued. - SEA FISHERIES BILL. This is a consolidating Bill. . It contains new provisions giving the discoverer of an. oyster-bed power to obtain an exclusivei license for its use, the license not to exceed five years. Proceedings against Natives for breaches of the Act shall be taken only when authorised by the Native Minister.