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WEDNESDAY, DECEMBER 22, 1976
+FOR THEM WE WILL APPLY A SYSTEM OF TEMPORARY RELIEF.
+ PARTICULARLY IN RESPECT OF DOMESTIC ACCOMMODATION. THE DETAILS OF THE RELIEF SCHEME HAVE STILL TO BE WORKED OUT,+ HE SAID.
+SO, TO SUM UP THE CONSEQUENCES OF THE REVALUATION, THE INCREASE IN THE ACTUAL RATES PAID WILL BE NOTHING LIKE AS SEVERE AS HAS BEEN ASSUMED IT WILL REPRESENT ONLY A SMALL PERCENTAGE OF THE TOTAL COST OF ACCOMMODATION,→ HE ADDED.
IN REPLY TO ANOTHER QUESTION FROM DR. THE HON. HARRY FANG ABOUT RATES, THE ACTING FINANCIAL SECRETARY SAID RATES WERE NORMALLY REFUNDED IN FULL IN RESPECT OF PRIVATE NON-SUBVENTED ORGANISATIONS WHICH CONTRIBUTED TOWARDS THE ACHIEVEMENT OF A DEFINED AND APPROVED TARGET, PROVIDED THAT THE ORGANISATIONS WERE NON-PROFIT-MAKING AND WERE UNABLE TO MEET THIS EXPENDITURE FROM THEIR OWN RESOURCES.
+SUCH ORGANISATIONS INCLUDE PRIVATE HOSPITALS, AGENCIES PROVIDING SERVICES IN ACCORDANCE WITH THE SOCIAL WELFARE FIVE YEAR PLAN, AND CERTAIN PRIVATE PRIMARY SCHOOLS, HE SAID. +THE REMAINDER WILL BENEFIT FROM ANY OVERALL REDUCTION IN RATES PERCENTAGES.+
TURNING TO QUESTIONS ASKED BY THE HON. JAMES WU, HE SAID THE GOVERNMENT +DOES AGREE THAT PROPERTY TAX IS A TAX ON INCOME DEEMED TO BE DERIVED FROM OWNERSHIP OF PROPERTY.+
MR. JEAFFRESON POINTED OUT THAT THE ASSESSABLE VALUE OF PREMISES CONTROLLED UNDER THE LANDLORD AND TENANT (CONSOLIDATION) ORDINANCE WAS THE ESTIMATED ANNUAL RENT PERMITTED UNDER PART ONE OR AUTHORISED UNDER PART TWO OF THAT ORDINANCE.
+ IT HAS BEEN FOUND IN PRACTICE THAT WHERE ASSESSABLE VALUES EXCEED THE PERMITTED OR AUTHORISED RENTS, THIS HAS USUALLY BEEN BECAUSE TAXPAYERS HAVE FAILED TO PROVIDE CORRECT OR SUFFICIENT INFORMATION WHEN THE ASSESSABLE VALUES WERE BEING PREPARED, + HE EXPLAINED.
+TAXPAYERS, OF COURSE, HAVE THE RIGHT OF OBJECTION UNDER SECTION 64 OF THE INLAND REVENUE ORDINANCE, AND WHERE THEY ARE FACED WITH THE SITUATION MY HONOURABLE FRIEND DESCRIBED, THEY SHOULD EXERCISE THIS RIGHT, HE ADDED.
IN ANSWER TO A QUESTION ALSO INVOLVING NEW RATING VALUATIONS FROM THE HON. HILTON CHEONG-LEEN, THE SECRETARY FOR HOUSING, THE HON. IAN LIGHTBODY, SAID: +UNDER CLAUSE 3 OF THE LANDLORD AND TENANT (CONSOLIDATION) (AMENDMENT) (NO. 2) BILL 1976, WHICH IS SCHEDULED FOR SECOND AND THIRD READINGS TODAY, PREMISES WHICH AT PRESENT ENJOY THE 21 PER CENT LIMIT ON RENT INCREASES WILL CONTINUE TO BE SUBJECT TO THIS LIMIT, DESPITE THE REASSESSMENT OF RATEABLE VALUES.+
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