The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-10-18

thirty first day Of March. from the following
sources: From any trade, business manu-.
facture. adventure, undertaking or con.
Germ OF whatsoever nature: from the
purchase, sale. or other disposition OF
real or personal property, or Of any right. es-
tate, or interest therein: from loans. invest
ments. or deposits Of money. whatever may be
their nature and hOwsoever made, and from
any contract whatever under which income is
derived or 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 including income derived or re.
celved from lands or NOR gageS) outside the
colony whereby income is derived or received
in New Zealand by any person, but shall not
include income liable to tax under any 9th.
er schedule Of this act or expressly exempt
from taxation under this act
2 Tax shall be assessed and paid by every
person upon the income derived from business
as Aforesaid, and. when the taxable amount OF
income so derived has been ascertained in &C.
cordance with this act, every person. whether
carrying on business alone or in partnership,
shall be entitled to a deduc ton by way OF ex-
emption of three hundred pounds, but no per-
son shall be allowed more than one such ex-
emption either in repsect OF income derived
from business or in respect Of income derived
from employment or emolument
SCHEDULE E-INCOME FROM EMPLOYMENT OR
ENDOWMENT
!. Every person shall be liable to tax in re-
Spect OF income derived from employment or
emolument and not derived from business as
aforesaid Income derived from employment
or emOlument' means the gains or profits de-
rived or received in New Zealand in each year
ending the thirty first day Of March, and
whether such person is residing in New Tea
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 5e or ann uity of any kind
not charged on land.
Z Tax shall be assessed and paid by every
person upon the income derived from employ
ment or emolument as aforesaid, and where
the taxable amount OF income so derived has
been ascertained in accordance with This act
every person, whether engag d in any employ
ment or receiving any emolument either alone
or in par tnership shall be entitled to deduc-
duction by way of exemption of three hundred
pOunds but 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 income derived from
business
SCHEDULE MISCELLANEOUS RULES AS TO
ASSESSMENT OF INCOME.
l. All losses and oulgoings actually incurred
by any person or company in production of the
income shall be deducted from the gross amount
OF his or its income.
2 But in estimating the balance of the income
liable to tax in the of any business, en-
plOyment or emOlument, no sum shall be de-
Quoted therefrom for an sum expended for re-
pairs OF premises occupied for the purposes of
the business or employment, nor for any sum
ex ended for the supply of or repairs 10 or
alterations m ppt mt
elmer employed used for the purposes of
such business or employment, bevond the sum
usually expended in any year for such pur-
poses: nor on account of loss not connec ed with
or arising out of such business or emp ovment:
nor on account Of an capital Withdrawn there
from, nor for any sum used or intended to be
used as capital in such business or employment:
nor for any capital used in he Improvement of
premises occupied for the purposes of such
business or employment: nor Oh account of any
interest which might have been made on such
sums ii laid out at interest; nor for any bad
debts, except bad debts proved to be such to
the satisfaction OF the commissioner: nor for
any average loss bevond the actual amount of
loss after adjustment, nor for any sum recover
able under any insurance or contract of in
demn1ty; an dlSburSe mentS or eX lenses what
ever not being money wholly and exclusively
laid out or expended for the purposes of such
business or employment; any disbursements or
families, or domestic establishments; nor for
the rent or value of any dwelling house or do
nestle offices except such part thereof as may
be used for the purposes of such business or
emplo ment not exceeding such proportion OF
the said rent or value may be allowed by the
cOmmlS> Toner: nor for sums expended in
any other domestic or private purposes distinct
from the purposes of such business or employ.
ment.
The computation of tax arising in respect
OF any business or any employment carried on
by two or more persons jointly shall be made
and stated separ ately and distinctly from any
other tax chargeable to the same persons or
any of them
4. Every company and local authority, and
every person carrying on business or engaged
in any employ ment shall, in such manner and
form as may be prescribed, from time TO time
furnish the commissioner with lists of all per-
sons employed by them. and the salary, wages,
stipend or OF her allowances or emolument paid
or allowed to each such person.
D. Allowances made to any person by way of
house rent and all amounts received receiv-
able by way of extra salary, bon S allowance
or emolument shall be taken into account as
part OF the annual income liable to taxation.
t.. When any person or company occupies for
the purpose of business or employment any
land in respec ct of which tax on land is PAYABLE
by him or it under this act for the same period
in any return of income derived or
received from such business or en-
plovment for such period, to deduct
a sum equal 10 five per centum the amount
on which such person or company is liable to
pay tax on such land under Schedule A to this
act
Z. An person who has effected or NAV here
after effect an insurance on his life for his
benefit, or for the benefit of his wife and
children, or one some Of them. wi Ii any COM
pany or association carrying on business of life
insurance shall be entitled to deduct from his
income outgoing the amount of premiums
paid in any year in respect of such insurance;
provided that no greater deduction than fifty
pounds shall be allowed in any wear in respect
of all premiums paid for such insurance
Where o person carries on business or is en-
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 res pect of his life insurance. as
hereinbefore provided, ~ be deducted as an
outgoing from such business or employment
or from the gross amount of the par nership as
tn case my be.
The provisions Of this section shall apply to
anv insurance effected with the government in
surance commissioner under any act or author
ity relating to such insurance.
Printing Money.
They are printing $1,250,OOO of new