XN000022-1978-12-29 — Page 2

FRIDAY, DECEMBER 29, 1978

BILL EXEMPTING CLUBS, TRADE AND PROFESSIONAL

ASSOCIATIONS, CLANS, FAMILIES OR T'ONGS

FROM PROPERTY TAX GAZETTED

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A BILL PROPOSING TO EXEMPT FROM PROPERTY TAX LAND AND BUILDINGS OWNED AND OCCUPIED BY CLUBS, TRADE AND PROFESSIONAL ASSOCIATIONS, CLANS, FAMILIES OR T'ONGS IS PUBLISHED IN THE GOVERNMENT GAZETTE TODAY (FRIDAY).

A GOVERNMENT SPOKESMAN SAID THE PROPOSED PROPERTY TAX EXEMPTION WOULD APPLY TO:

* A CLUB OR SIMILAR INSTITUTION DEEMED BY SECTION 24(1) OF THE INLAND REVENUE ORDINANCE NOT TO CARRY ON A BUSINESS-

A TRADE, PROFESSIONAL OR BUSINESS ASSOCIATION NOT DEEMED BY SECTION 24(2) OF THE ORDINANCE TO CARRY ON A BUSINESS- AND

* A CLAN, FAMILY OR T'ONG WHOSE PROPERTY IS CERTIFIED BY

THE SECRETARY FOR THE NEW TERRITORIES OR THE SECRETARY FOR HOME AFFAIRS TO BE THE PROPERTY OF THE CLAN, FAMILY OR TRONG.

HE STATED THAT EXEMPTION WOULD APPLY PROVIDED THAT IN ALL CASES THE PREMISES WERE NOT EXPLOITED COMMERCIALLY. HE SAID IF THE PROPERTY WAS LET AND RENT RECEIVED, TAX BECAME CHARGEABLE BY REFERENCE TO THE AREA LET AND THE PERIOD OF THE LETTING.

+IF THE BILL BECOMES LAW, EXEMPTION WILL TAKE EFFECT FROM APRIL 1 NEXT YEAR, HE SAID.

THE SPOKESMAN SAID THE EXEMPTIONS, WHICH HAD BEEN RECOMMENDED BY THE THIRD INLAND REVENUE ORDINANCE REVIEW COMMITTEE WERE LIKELY TO COST $2 MILLION PER ANNUM.

NEW YEAR HONOURS LIST ******

COPIES OF A SPECIAL SUPPLEMENT TO TODAY'S (FRIDAY) DAILY INFORMATION BULLETIN CONTAINING A LIST OF HONG KONG RECIPIENTS ON NEW YEAR HONOURS ARE DISTRIBUTED IN THE PRESS BOXES, GOVERNMENT INFORMATION SERVICES, THIS EVENING, THE ARMED SERVICES LISTS ARE DISTRIBUTED SEPARATELY IN THE PRESS BOXES.

PUBLICATION IS PERMITTED IN HONG KONG NEWSPAPERS TOMORROW (SATURDAY) MORNING BUT NO NEWS AGENCY OR OVERSEAS RADIO MAY CARRY THE INFORMATION WITHOUT THE EMBARGO QUALIFICATION. THE NEWS MAY BE BROADCAST FROM 7 A.M. TOMORROW ONWARDS OVER THE LOCAL RADIO AND TELEVISION STATIONS.

ON NO ACCOUNT SHOULD ANY OF THE RECIPIENTS OF HONOURS BE CONTACTED FOR INTERVIEWS OR FOR INFORMATION RELATIVE TO THE IR CAREERS OR BE APPROACHED IN ANY WAY IN CONNECTION WITH THE IR AWARDS BEFORE THESE HAVE BEEN PUBLICLY ANNOUNCED.

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