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March isth | ;\"?"\"\:N.\"\.:';\.;\"\'-'"\"\.N."N.'"\"\"\.NNN'\Z i ;Mr.,SmcIazr s 'Own Royal Commission'i # w t n mmb n \3\'0\0'\1-\0-\"\11\01\0"\.-\'-\ov\-'\-NNGU\..\..\.NN"..V.} s Ingdication of his intention to reopen discussion of the recent stock ' market and brokerage situation was voiced by Liberal Leader William E. N. Sinclair to the press yesterday following his appearance béfore the Public Accounts Committee of the Legislature, and his filing of the | following motion: I | "That F. Martin Turnbull, Assistant Treasurer; J. T. White, K.C., | | Controller of Revenue, and W. A. Orr, Assistant Controller of Revenue, | be summoned to appear at the next meeting of this committee to give evidence on the item oi $620,314.07 appearing on page 40 of the Public Accounts for 1929, as revenue from stock transfer tax, tax on transfer pf sec1_mt,ies. and to produce before this committee the books and records in tmflr custody which relate to such item." & "It is my purpose." said Mr. Sinclair, "to throw s brokerage question for discussion as far as the item wlllog:?mg? * Iv;r;gl_e t to put it another way--my own Royal Commission." j Hon. W. D. Black, former Speaker of the House, was appointed ' Chairman of the committee for the current session. The next meetin ' will be held on WednesGoay, March 19. € l I : OF NON--RESIDENTS f * 3 E * n efi eryrndecese s 4 l : Revenue From -- Investment in Ontario Not | Assessed | AID TO MUNICIPALITIES KNon--residents of Ontario who invest money in this Province, cither person-- 'eily-- or through the medium of an agent 'or trustes residing in the Prov-- . ince, are net to be assessed for income | tax on the revenue dorived from such | investment, ~according to a 'bill intro-- | duced im otho Logislature yesterday aittrncon by Hon. William Finlayson. 1 Fxemption is also granted on the in-- caomogs frorn truct funas cs ablished -- b; |, non--residents and ths,. incomes from z estates of pcrsans who wore non--resi-- ! «cnts. | Incomos from trust fiunds established t | * by 'residents of the Provincs, or incom«i a |-- from ectates of persons who were resi-- aont;, that are payable to 'persons liv-- s ing 'dutside the Province, are, however, taxzable, the bill stipulates. Incomes received by deceased person: _éuring their lifetime are liable to as-- s>--sment and taxation, but such in-- comes shall not be again assessed when they have been distributed to the bene-- rciarics. The municipality entitled to aczess shall be the municipality in which (he testator resided at 'the time of his geath. Assistance to municipalies in the collection of income ta® levied against persons who have died or moved some-- where else between the time the in-- j come was assessed and the tax levied is given in a bill to amend the Assess-' t ment Act, also introduced in the Legis-- | lature by Hon. William Finlayson. t The section dealing with this prob--| leny reads: "Notwithstanding any pro-- | vision 'of 'the: Municipal Act, and sub=; joct to the provisions of Section 121, every person assessed in respect of| byusiness . Or income. upon, any assess= | ment roll which has heen revised by | the Court of Revision Qr County Judge shall . be liable for, any rates which | may, be JTovied uvoy such. assessment roil, . notwithstanding the doath, or re-- moval from the minjcipality ' of the poerson assessed. and <notwithstaending that. such .rates . are. not..levied, until * Fae year following tbat in which the xéassmient® roll was revised,""""~ ~ _