§ MR. KENNEDY (Westmeath, N.)I beg to ask Mr. Chancellor of the Exchequer whether he is aware that tenant purchasers under the Land Purchase Acts have income tax assessed under Schedule A on farms purchased under those Acts, and subject to annual instalments little less than the former rent; whether they are entitled to deduction from such assessment in respect of the annual interest which they pay on the purchase money; whether income tax is demanded on such farms even where the annual value is less than £160; and whether he will direct the Income Tax Commissioners to reduce the demands under Schedule A by the amount of interest as aforesaid, and not issue any demand note in cases where the net valuation so reduced is less than £160.
§ SIR M. HICKS BEACHFarms purchased under the Land Purchase Acts are, like all other land in Ireland, liable to assessment to income tax (Schedule A) on the basis of the Poor Law Valuation; but the tenant is in practice allowed a reduction of the assessment by the amount of the annual interest which he pays on the purchase money, Income tax would be assessed on a farm of which the annual value is less than £160, but the assessment would be discharged if the tenant should establish his title to exemption on the ground that his total income from all sources is less than £160 per annum.