FINANCE BILL

Otago Daily Times, Issue 25717, 13 December 1944, Page 4

FINANCE BILL

INTRODUCED IN HOUSE FORTY-ONE MISCELLANEOUS CLAUSES (F.0.P.R.) WELLINGTON. Dec. ,12. Forty-one provisions of a miscellaneous nature are contained in the Finance Bill (No. 3), which was introduced and read a first time in the House of Representatives to-day. Several of them are of a, validating ana relatively minor nature. Provision is made in the Bill for one quarter of the revenue received from income tax during the current financial year to be paid into the War Expenses Account. , ~ The Bill increases the family allowance from 7s 6d to 10s a week, and the limitation of £5 5s in the weekly family income is increased to £5 10s. The Minister of Finance is empowered to acquire shares in cooperative dairy companies. Poll Tax on Chinese Removed

The discriminatory poll tax previously applied against Chinese immigrants is removed, and they will be placed on the same footing as other clause provides that overseas passenger duty shall not be chargeab e in cases where the passage money or fare is paid by the New Zealand Government pr other Governments. School committees are exempted from the payment of stamp duty on reCG The Bill provides for relief from successive death duties on the of deceased servicemen and also for the exemption from such duties of, P a y accruing after a serviceman s death. The clause sets out the rules to be followed in determining the amount of compensation awarded by the Com pensation Court or by the Native Land The Government and local authorities are empowered to combine for any scheme of development or reconstructloThe Minister of Finance is authorised to carry out, any necessary work in connection with the cutting, milling, or transportation of timber. Building societies are empowered to borrow two-thirds of the amount invested by them in Government securities. ~ T The agreement between the Invercargill Licensing Trust and the Crown in connection with the construction, renovation, and alteration of premises to be used by the trust is validated. Union of Hospital Districts

A clause authorises the GovernorGeneral to issue an Order-in-Councu to provide for the union of hospital! districts. Another clause provides for a refund of the income tax overpaid by the Royal Insurance Company, Ltd., for the year ended December 31, 1938. There is also a clause. relating to the taking of land by the Government at its proper value. It states that - if the Government notifl?s that a major work is to be undertaken in a certain area appreciation in the values of land shall not be against the Government. The right is given to buy land at its value before the announcement of the project.