The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1893-10-13

thirty-first day Of March. from tho following
sources: From any t-ade. business, manu-
facture. adventure, undertaking. or CON
Germ OF whatsoever naturc' from inc
psrchass, sale other dis position OK
fssi or personal property. or OF any <1ght -
tate, or interest therein: from loans, invest
men.s. or deposits Of money. whatever may DO
their nature, and howsoever made, and from
any contract wha tever Under which income Is
derived received, except investments made
upon mortgages Of land in the colony; income
from pastoral lands of the crown in the colony
held under lease or license issued by or on be-
half OF the crown: from every source or kind
whatsoever dncluding income derived or re-
ceived from lands NOR tgages) outside the
COLONY whereby income is derived or received
in New Zealand by any person, but shall not
include Income liable 10 tax under any 9th.
er schedule OF this act or expressly exempt
t->eSs taxa tion under his act
2 Tax shall be assessed and paid by every
person upon the income derived from business
rs aforesaid, and, when the taxable amount OF
incoiae derived has been ascertatned IN ao-
cordance With this act, every person. whether
carving on buzinsss alone or in partnership,
shall be entitled to de6rc tiou by way OF e1-
empticn OF three hundred pounds, but no per-
son shall be allowed more than one such ex-
eplption either in repsect Of income derived
from business or in respect OF inCHne ueriSeo
from employment or emolumcnt
SCHEDULE E-INCoME FROM EMPLOYMENT o.
EMOLuMENT
l. Every person shall be liable to tax in re-
spect of income derived from employment or
emolument and not derived from business a.
aforesaid Income derived from employment
or einCl uInent" means the gains or profits Dc
rived or received in New Zealand in each year
ending the thirty arst day of March, and
whether such person IL residing in New Zea-
land, or elsewhere from the exercise OF any
profession employment, or vocation OF any
kind not otherwise liable to taxation under this
act, or from any salary. wages, allowance, pen
+ sion stipend, or char ye or ann ulty OF any KIM
not charged on land.
- Tax shall he assessed and paid by every
person Cpon The income derived from employ
ment or emoiument aforesaid, and where
the taxable amount OF income 50 derived has
bcsp ascertained in accordance with his act,
every person, whether engag d in any employ
ment receitipS any emolument either alone
or in partnership shall be entitled TO deduc-
auction by way of exemption OF three hundred
mounds; hut no person shall be allowed more
than one such exemption either in respect OF
income derived from employment or emolu-
ment or in respect of ipeome derived from
business.
SCHEDULE F MISCELLANEOUS RULES AS TO
ASSESSMENT or INCOME.
l. All losses and outgoings actually incurred
by any person or company in production OF tho
! inc,;,.e snail be deducted from the gross amount
| of his or It's ircome.
But in estimating the balance OF the income
| liable to tax in the case of any business, en-
Quoted therefrom for sum expended FOR re-
pairs OF premises occupied for the purposes OK
the business or employ ment, nor for any sum
ex ended for the supply OF or repairs 70 OF
alterations in any implements, utensils, or ma
. cu!nerv employed orsused for the purposes OF
such busintss or employment beyond the sum
usually expended in any wear FOR such pur-
. poses: nor on account OF loss not connected with
or arising out OF such business or employment
nor on account of any capital Withdrawn there
from, nor for any sum used or intended TO Dc
used as capital in such business or employment.
nor for any capital used in the Improvement OF
! premises occupied for the purposes OF sucn
business or employment nor on account OF any
! interest VIII. ch might have been made On such
sums II laia at interest; nor for any bad
debts except bad debts proved to be such 70
the satisfaction of the commissioner; nor Tor
any average loss beyond the actual amount Oh
loss after ad Jus tment, nor for any sum recover
eb.e under any insurance or contract OF IN
| dernnity; disbursements or expenses wnat-
ever not being money wholly ana exclusively
laid out or expended for the purposes OF such
business or employment; any disbursements or
expenses Of main ;enance Of the parties, their
families, or domestic establishments. nor for
the ren: value OF any dwelling house or DO
mestic Offices except such part thereon as may
be used for the PURPOSES Of such business or
emplov ment not exceeding such proportion OF
the said rent value as may DO allowed Dy the
, comm ssioner; nor for an sums efpenoeo IN
any other domes iic or private purposes nlstlnot
from the purposes Oh such pusihesS VI eAAR'o'
trent
q The computation Of tax arising in respect
of any business any employment carried on
by two or more persons jointly shall be maze
and stated separately and distinctly from any
other tax chargeable 10 Inc same pefsons o1
any of them
| 4 Every company and local authority, and
every person carrying on business or engaged
in ary EMPLOY msnt, shall in such manner ana
form as may he prescribed, from time 10 time
tka. .iaGiG
sons employed by them and the salary, wages,
stipend o her allowances or emolument palo
or allowed to ea-h such person
s. Allowances made 90 any person by way OF
house rent, and all amounts received or rece1v-
able by way Of extra salary, bonus allowance.
J or er1olument, shall be taken into account 81
part of the annual income liable TO taxation.
g. When any person or company occupies for
the purpose of business or employment any
land in respect of which tax on land Is payabie
by him or IL under this act for the same period,
such person company shall be entitled,
in any return OF income derived or
received from such business or EN-
: plovmcnt for such period, to deduct
! Il sum equal 10 FIVE per centum on the amouna
on which such person or company is liable to
pay tax on such land under Schedule 70 this
act
T. Anv person who has effected or may here
I after effect an insurance mis- own life for his
, | own benefit, or for The benefit of his wife and
children, or one some Of them, With any com
pany or association carrying on business OF life
. insurance, shall be entitled TO deduct from bis
! income as an outgoing the amount OF premiums
paid in any year in respect of such Insurance.:
provided that no greater deduction than hfty
pounds shall be allowed in any year In respect
. Of all pre- emUms paid for such insurance.
Where q person carries on business or Is en-
, gagged In any employment in partnership with
. one or more other person or persons and Is IN
receipt OF no other income than that derived
from such business or employment the
amount paid In respect of his life insurance, as
, hereinbefore provided. may be deducted as Al
outgoing from such business employment
or from the gross amount Of the par nership al
tn may be.
! The provisions Of this section shall apply tn
.. any insurance effected with the government m
= surance commissioner under any act or author
ity relating to such insurance.
' Printing Money.
, They are printing sl,25o,0o0 of new
, national bank notes every day on new
4 orders for circulation--currencyb being
Z at premium over gold-and Secretary