§ MR. SEXTON (Belfast, W.)I beg to ask the Chancellor of the Exchequer under what Schedule or Schedules, and on what principle, purchasers under the Land Purchase Acts in Ireland are liable to be assessed for the purpose of Income and Property Tax; what would be the 1384 amount paid under Schedule B by a tenant whose rent is £150 and the rateable value of whose holding is £100; and what would be the amount paid under Schedules A and B by the same person after he had purchased at 20 years' purchase under the Land Purchase Acts (presuming in each case his total income to exceed £400)?
§ MR. GOSCHENPurchasers under the Land Purchase Acts are liable to be assessed to Income Tax under Schedules A and B in the same manner as other owners of property. The tenant under the circumstances described would pay 2¼d. in the £1 under Schedule B on £100. He would pay on £100 at 6d. under Schedule A, but he would be entitled to deduct the tax paid on that portion of the annuity which represents interest. It is hardly likely that many cases would arise in which a purchasing tenant would be assessed at such an amount as would make him liable to Income Tax, but in any case of difficulty the Board of Inland Revenue would doubtless be able to deal with it on its merits.