26

Prov iso

Personal property of ( 'orporation

Income Tax

Residents

Cap. 17. III EDWARD VII. 1903.

the assessors shall make a special assessment on such person or persons and. their property, and return the same to the City Clerk, and such person may then be notified and proceeded against for the recovery of such assessments, as if he had been duly returned in the assessment book or additional returns.

68. Personal property belonging to a corpora- tion, or any joint stock company, shall be assessed in the name of the corporation, or of the present mana- ger or agent thereof, but under such description as shall be sufficient to distinguish between the assess— ments made upon the president, manager or agent as such, and that made upon him in respect of property held in his own right. Assessments made upon a corporation under this section, shall be payable by and recoverable from the president, manager or agent for the time being, notwithstanding that the assess- ment may have been made in the name of the former president manager or agent, or may be lecoverable out of the property of the corporation.

INCOME.

69. The following persons shall be liable to pay income tax, should the said City Council, in any year determine to levy an income tax, and the incomes upon which such tax or assessment shall be levied, shall be the net income, salaries or receipts of such persons for the Civic Year (namely, from first January to thirty-

.first December) preceding the levying of such income

tax : ~—

(1) All residents of the city, carrying on any trade, business, employment, profession or calling, within the Province, or employed in any office, business or trade within city limits.

(2) All residents of the city not engaged in any trade, business, employment, profession or calling, but who are in receipt from any source of any income or-

salary.