XN000022-1988-05-11 — Page 24

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WEDNESDAY, MAY 11, 1988

(AMENDMENT)

THE INLAND REVENUE

BILL 1988 WOULD REDUCE THE STANDARD TAX RATE FROM 16.5 PER CENT TO 15.5 PER CENT AND THE RATE OF PROFITS TAX PAYABLE BY CORPORATIONS FROM 18 PER CENT TO 17 PER CENT.

IN ADDITION TO REVISIONS IN THE GRADUATED SCALE OF TAX RATES AND THE AMOUNT OF ALLOWANCES, THE BILL ALSO SOUGHT TO INTRODUCE AN ALLOWANCE OF UP TO $15,000 FOR WORKING WIVES.

EFFECTIVE FROM APRIL 1 THIS YEAR, THE BILL WOULD $1,780 MILLION TO GENERAL REVENUE IN THE CURRENT FINANCIAL $2,790 MILLION PER ANNUM THEREAFTER AT PRESENT LEVELS OF INCOME.

COST ABOUT YEAR, AND CHARGEABLE

UNDER THE STAMP DUTY (AMENDMENT) BILL 1988, A REVISED SCALE OF STAMP DUTY PAYABLE IN RESPECT OF CONVEYANCES ON SALE WOULD BE INTRODUCED, ALSO WITH EFFECT FROM APRIL 1.

THE COST OF THE PROPOSAL WAS ESTIMATED AT $300 MILLION IN THE CURRENT FINANCIAL YEAR.

DEBATES ON THE FOUR BILLS WERE ADJOURNED,

REMOVAL OF NOMINAL INSPECTION CHARGE PROPOSED

THE SOCIETIES (AMENDMENT) BILL 1988 SEEKS TO REMOVE THE CHARGE FOR INSPECTION OF THE REGISTERS OF SOCIETIES MAINTAINED BY THE COMMISSIONER OF POLICE AS REGISTRAR OF SOCIETIES, THE SECRETARY FOR SECURITY, THE HON GEOFFREY BARNES, SAID IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

MOVING THE SECOND READING OF THE BILL, MR BARNES SAID THAT THE CHARGE HAD BEEN INTENDED TO DETER CASUAL BROWSING AND HAD BEEN SET AT A NOMINAL $1.

"THE COMMISSIONER HAS POINTED OUT THAT MANY REQUESTS то CONSULT THE REGISTER COME BY TELEPHONE, MAKING A CHARGE IMPRACTICAL AND THAT, IN ANY CASE, ADMINISTRATIVE MEASURES CAN BE TAKEN TO DETER FRIVOLOUS ACCESS TO THE REGISTERS, HE SAID.

"

"CONSEQUENTLY IT IS PROPOSED TO AMEND SECTION

9(2) TO REMOVE

THE OBLIGATION TO CHARGE A FEE."

/MR BARNES