CO129-615-2 Income tax 10-3-1947 - 6-2-1948 — Page 260

262

-3-

CHAPTER II - PROPERTY TAX

6. In view of the fact that the income of property owners is restricted by law in such a manner that they are unable to tolto ad- vantage of rising price levels,wo consider that the provisions of Chap -ter II, as originally drafted inflict special hardship on this section of the community at present, We therefore recommend that whilst ront control remains in operation tax be charged at one-half the standard rate and that the proposed allowance for ropairs at ton per cent should be increased to an allowance of twenty per cont Tor repairs and outgoings. Effect is given to this in the proposed new section 6 in the schedule attached to this report.

7. We also consider that cxemption from property tax should Do provided for establishments of an occlcsiastical, educational or charitable nature, similar to the exemptions provided under Section 39 subsection (2) of the Rating Ordinance, 1901, and we therefore propose the following proviso to Section 6:-

this to

And provided also that property tax shall not be crgod on any land and/or buildings which are clent Pro ratos by virtue of section 39(2) of the Rating Ordinice, 1901.

CHAPTER III - SALARIES

Wo accept the Commissioner's proposal that the scope of should be widened so as to cover annuities, which otherwise would not have been covered by the Ordinance, and we thorofore propose that the title of this Chapter be amended to "Salaries and Annuities Tax" and that the necessary consequential amendments be made throughout the Chapter, including:

9. included

Section 9(b): The words "payable in respect of any such office or emplo.mont" should be deleted.

Section 9, proviso iii

The words "Provided that this exemption" etc. (to the end of the clause) should be deleted.

We agree to the following edûitional oxorptions being at the request of the Gommissioner:-

(iv) the emoluments payable by the Goverment of the United Kingdom of Great Britain and Northern Ircland, His Majesty's Dominions and India to mcribers, of His Majesty'q forces and to persons in the permanent service of those Governments in the Colony in respect of their offices under those Governments;

(v) wound and disability pensions granted to members of His Majesty's Forces;

(vi) gratuitios granted to members of His Majesty's Forces in respect or services rendered during war.

with the consequential re-numbering of exemptions (iv) and (v),

Section 10: Delete "pension" From (1) of subsection (1) and add a now subsection (3):-

Page 260Page 261