m. 14.
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FRIDAY, APRIL 19, 1974
FIVE BUILDINGS IN WESTERN CONDEMNED
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I THE BUILDING AUTHORITY TODAY DECLARED NOS. 67 AND 69 WING LOK STREET TO BE IN A DANGEROUS CONDITION, AND NOS. 43, 45 AND 45A AND B BONHAM STRAND LIABLE TO BECOME DANGEROUS..
THE PRINCIPAL GOVERNMENT BUILDING SURVEYOR SAID THESE PRE-WAR BUILDINGS HAD BEEN UNDER OBSERVATION FOR SOME TIME AND A DETAILED INSPECTION WAS MADE FOLLOWING A REPORT OF FRESH MOVEMENT.
IT WAS FOUND THAT MOVEMENT HAD OCCURRED IN THE WALLS OF BOTH NOS. 67 AND 69 WING LOK STREET AND AS THESE WERE ALREADY FRACTURED
IT IS CONSIDERED THAT THERE IS RISK OF FAILURE LEADING TO A COLLAPSE, NE SAID.
FRACTURES IN THE PARTY WALLS OF THE REMAINING BUILDINGS TOGETHER WITH SOME BULGED BRICKWORK INDICATE THAT THERE IS A RISK OF FAILURE DURING OR AFTER THE DEMOLITION OF THE ADJOINING DANGER- OUS BUILDINGS. A CONSIDERABLE AMOUNT OF DECAYED TIMBER WAS ALSO OBSERVED, HE ADDED.
NOTICES OF INTENTION TO APPLY FOR CLOSURE ORDERS IN VICTORIA DISTRICT COURT AT 9.30 A.M. ON MAY 22, 1974 WERE POSTED TODAY. AS NO. 69 WING LOK STREET IS ALREADY VACANT NO CLOSURE ORDER WILL BE NECESSARY.
ESTATE DUTY EXEMPTION LIMIT TO BE RAISED
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A BILL DESIGNED TO IMPLEMENT ONE OF THE FINANCIAL SECRETARY'S BUDGET PROPOSALS ON TAX RELIEF BY RAISING THE EXEMPTION LIMIT FOR ESTATE DUTY FROM $200,000 TO $300,000 IS PUBLISHED IN TODAY'S GAZETTE.
THE ESTATE DUTY CAMENDMENT) BILL 1974, WHICH IS TO BE INTRO-
TO THE LEGISLATIVE COUNCIL SHORTLY, SIMPLY SEEKS TO ABOLISH THE EXISTING FIRST PLATFORM
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NOW ATTRACTING DUTY AT
FIVE PER CENT - FOR ESTATES VALUED BETWEEN $200,000 AND $300,000,
[
THE RATES OF ESTATE DUTY, WHICH NOW START AT SIX PER CENT, REMAIN UNCHANGED FOR ESTATES VALUED IN EXCESS OF $300,000.
THIS BILL ADDS A NEW SCHEDULE SETTING OUT THE RATES OF DUTY PAYABLE IN RESPECT OF ESTATES OF PERSONS DYING ON OR AFTER APRIL 1 THIS YEAR.
THE FINANCIAL SECRETARY, MR. PHILIP HADDON-CAVE, POINTED OUT IN HIS BUDGET SPEECH THAT THE ABOLITION OF THE FIRST PLATFORM WOULD POSSIBLY COST THE GOVERNMENT MORE THAN $1 MILLION IN REVENUE IN THE NEW FINANCIAL YEAR.
HE ADDED THAT IN 1972/73, WHILST ESTATES VALUED BETWEEN $200,000 AND $300,000 CONTRIBUTED ONLY 2.6 PER CENT TO THE TOTAL buTY ASSESSED, THEY REPRESENTED OVER 20 PER CENT OF THE NUMBER OF ESTATES ASSESSED.
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