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FRIDAY, JUNE 21, 1974
NEW LAND RESUMPTION COMPENSATION TERMS
******
IN FUTURE WHEN VILLAGE LOTS IN NEW KOWLOON SURVEY DISTRICTS ARE RESUMED BY THE GOVERNMENT FOR COMMUNITY PROJECTS, THE COMPENSATION WILL INCLUDE PROVISION FOR AN EX-GRATIA PAYMENT.
THIS IS IN ADDITION TO THE NORMAL SUM ASSESSED FOR THE FULL MARKET VALUE OF THE LOTS.
THE CHANGE WAS ANNOUNCED IN THE GOVERNMENT GAZETTE TODAY.
EXPLAINING THE MOVE, A GOVERNMENT SPOKESMAN SAID: +THE DECISION TO GIVE EX-GRATIA PAYMENTS WAS TAKEN BECAUSE IT IS NO LONGER POSSIBLE FOR THE GOVERNMENT TO CONTINUE THE PRACTICE OF OFFERING PIECES OF LAND ELSEWHERE IN LIEU OF CASH COMPENSATION.
THE REASON IS THAT THERE IS A SHORTAGE OF LAND SUITABLE FOR DEVELOPMENT IN THE NEW KOWLOON AREA AND MUCH OF THE LAND AVAILACLE IS NEEDED URCENTLY FOR HOUSING AND SIMILAR PROJECTS TO HELP MEET THE GOVENIJON'S 10-YEAR HOUSING TARGET, HE EXPLAINED.
MOREOVER, THE CIRCUMSTANCES WHICH GAVE RISE TO THE ORIGINAL LAND EXCHANGE POLICY TEND NO LONGER TO APPLY.
THE SPOKESMAN POINTED OUT THAT ALTHOUGH MANY OWNERS HAD OPTED FOR THE EXCHANCE TERMS IN THE PAST, THE NEW POLICY VENT FAR BEYOND THE GOVERNMENT'S LEGAL OBLIGATION TO THE OWNERS OF SUCH LOTS.
S
+I THINK MOST OF THE COMMUNITY WILL AGREE THAT THE EX-GRATIA PROVISION IS GENEROUS IN ITSELF, AND THAT THE INTENTION BEHIND IT IS TO GIVE AS MUCH FINANCIAL ASSISTANCE AS POSSIBLE TO THE PEOPLE WHOSE PROPERTY IS TO BE RESUMED+ HE SAID.
NEW LIST OF CHARITY ORGANISATIONS
EXEMPT FROM TAX ****** ·
A REVISED LIST OF CHARITABLE INSTITUTIONS AND TRUSTS, WHICH HAVE BEEN RECOGNISED AS BEING EXEMPT FROM TAX, IS PUBLISHED IN A SUPPLEMENT TO TODAY'S GAZETTE.
THE NEW LIST SUPERSEDES ALL OTHERS PUBLISHED BEFORE MAY 31 THIS YEAR.
UNDER SECTION 88 OF THE INLAND REVENUE ORDINANCE, ANYONE WHO MAKES DONATIONS TO ANY OF THE CHARITABLE INSTITUTIONS OR TRUSTS ON THE LIST MAY CLAIM TAX RELIEF.
CLAIMS FOR SUCH RELIEF MAY BE MADE WHEN COMPLETING RETURN FORMS REQUIRED FOR PROFIT TAX, SALARIES TAX OR PERSONAL ASSESSMENT, AND SHOULD BE SUPPORTED BY AN OFFICIAL RECEIPT ISSUED BY THE INSTITUTION OR TRUST.
RELIEF WILL ONLY BE GIVEN WHEN THE TOTAL APPROVED CHARITABLE DONATIONS AMOUNT TO $100 OR MORE IN A YEAR.
L
£16