DIRECT TAXATION'

Timaru Herald, Volume XIIIC, Issue 14333, 26 October 1910, Page 5

DIRECT TAXATION'

THE BILL COMMITTED. Per Press Association. WELLINGTON, Oct. 25. The Land and Income Tax Bill was committed. Mr Massey moved to add to clause 10. " and shall come into operation on the repeal of the surtax provided for by the Customs Duties Ameudmont Act, 1909."

Sir J. G. "Ward said that tlie pass inn of the amendment would mean that the taxation would be deferred for a year. He had reason to believe that the classes upon which the new taxation was imposed did not object to the graduated income tax. Mr Massey said he would alter his amendment so as to narrow it down to the new proposals in respect of the graduated income tax. ' Mr Taylor said ho would more on tho third reading that the Bill be read this day six months. After further discussion, the motion as altered was put and negatived by 43 At clauso 2, an amendment by Mr ™'n™ U j. to exem Pt assessments under £..,000 from land tax was defeated bv 4.1 to 23. Mr Herries moved that the class in respect of which 8d per pound is pavnble (£ooo to £700) be increased from £OllO to £3Uo._Rejected by 45 to 23 on- W. J. Steward moved that income tax payers be allowed an exemption be allowed an exemption of £9> lor every member of his family wV.liv dependent on him for maintenance On a division the amendment was lost by 34 to 32. Mr Massey moved a new clause to the effect that section 11 should not apply to financial, commercial, or industrial institutions which holds land solely for the purposes of its business.— Lost by 44 to 19. Tho Bill was then renorted. .Hie Local Bodies Loans Amendments Act. was introduced bv Governor's Mes snee and read a first time, and "the House rose at 2 a.m.