JOINT OWNERS..

Taranaki Herald, Volume LIV, Issue 13480, 20 July 1907, Page 5

JOINT OWNERS..

Whenever two or more persons- (hereinafter called joint owners) own land jointly or in common, whether as partners or otherwise, they shall be assessed and liable for graduated land tax. The joint owners shall be jointly assessed and liable in respect of the land so owned by them jointly as if it was owned by a single person without regard to their respective interest in the same and without taking into account any land owned by any one of them in severalty or jointly or in common with any other person. Each joint owner shall in addition be assessed and liable in respect of his individual interes| in. the joint estate together with any other land owned by him' in severalty J and with his individual interests in any other land. In the case of/ each joint owner there shall be deducted from the tax payable by him in respect of his individual interest in the joint estate his share of the tax payable; in respect of the joint estate. The share of a joint owner in the tax so payable in respect of the joint estate shall bear the same proportion to the amount of that tax as his interest in the joint estate bears to the whole value of that estate.