§ Motion made, and Question proposed, "That this House doth agree with the Committee in the said Resolution."
§ Captain CrookshankWhat is this Resolution about?
§ The Solicitor-GeneralI take it that that interjection was really an invitation for me to give a brief explanation, and I will make my explanation as brief as I can, bearing in mind the great economy of words used in the invitation. The position is this. Section 4 of the Income Tax Act of 1945, which was referred to during the discussion of the last Resolution, has a slight defect as it is at present drafted, having regard to the actual dates which have been fixed upon as the appointed day for the Income Tax Act of 1945 and the appointed day for the Finance Act of 1941, Section 19. The result is that if some alteration is not made in the law a depreciation allowance will be given twice over in respect of the same asset. What is desired in the Finance Act is to bring in a Clause which will remedy that slight defect in Section 4 of the Income Tax Act of 1945 and prevent the double allowance, which is purely accidental.