Provincial And Local Taxation in Canada Nos. 128-130
Provincial And Local Taxation in Canada Nos. 128-130
Solomon Vineberg
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* For objections against income tax, see Report of Special Tax Com- mission of New York State, 1907, pp. 46-51. Digitized by Google 59] THE BUSINESS ASSESSMENT 59 The first step is to ascertain as nearly as possible the amount of income derived from every business and pro- fession the pursuit of which is dependent upon the occu- pation of real estate. Next we fix for each individual business or profession a tentative assessment by capital- izing this income at a rate such that its ratio to the ...tentative business assessment will be the same as the ratio of the gross rental of the premises occupied to the assessment of such premises. In other words, the ten- tative business assessment will be such that if the same tax rate were levied on it and on the real estate assess- ment, the same proportion of the income from each source would be taken. The third step is to find the ratio, in each case, of this tentative business assessment to the rental of the premises occupied, and to average the ratios thus obtained for each class of business or profession, making the class division as narrow as pos- sible.
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