CROWN LEASES
GOODWILL SUBJECT TO TAXATION (From Our Parliamentary Reporter). Wellington, July 22. A request that the Government should take action to exempt the goodwill of Crown leases from the payment of death duties and local body taxation was made by Mr W. A. Bodkin (Nat., Central Otago) in the House of Representatives to-day. Mr Bodkin asked if, in view of the refusal of the Lands Department to consent to transfers of Crown leaseholds where a purchaser had agreed to pay a goodwill for a lease, the Minister of Finance would introduce legislation exempting the goodwill of Crown leases from the payment of death duties as well as local body taxation. “The valuation Department is at present engaged in making a general revaluation in Otago,” added Mr Bodkin, “and this discloses that most Crown leases have a substantial goodwill, which is described in the valuation certificate as the lessee’s interest in the unimproved value. This interest has to be included in the assessment for the payment of death duties, and in such cases, Crown tenants should be permitted to sell it.”
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Bibliographic details
Southland Times, Issue 22949, 23 July 1936, Page 6
Word Count
181CROWN LEASES Southland Times, Issue 22949, 23 July 1936, Page 6
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