BRITISH FINANCE BILL.

Taranaki Herald, Volume LV, Issue 14016, 22 September 1909, Page 2

BRITISH FINANCE BILL.

INCOME TAX CLAUSES CARRIED. By Electric Telegraph.— Copyright LONDON, Sept. 21. In tlu> House of Commons, after a twelve-hours sitting, the income tax ('luusu!> of the Finance Bill were carried. Air. Lloyd-George, Chancellor of the Exchequer, admitted that the assessment under schedule A pressed unfairly upon the bettor class of landlords. Though he was unable to assess the landlords under schedule D, Mr. LloydGeorge announced that landlords, providing they actually spent money on their estates, would be allowed to claim for a refund up to 25 per cent. of the gross income upon which they were assessed. Hitherto owners have been allowed to deduct from their gross revenue onesixth in respect of houses, and oneeiuhth in respect of farms, on account of repairs an irnintenanco. This continues, hut an owner spending v ore will he entitled to a further refund. Mr. Lloyd-George entiinat*"! tint thr confession w ill cost half a million. Hi added that far from undwrcHVuiinp the total revenue for the coming year he had overestimated it.