Show FROZEN fROlEN REAlTY MAY NOW NO THA THAW d I Change in inI in I Income come Tax Law y Aids Land Sa Sales es F Frozen oze 1 real estate state should thaw under tho the new income tax laws in the opinion opinion opinion ion of Blair Richardson of the Ashton- Ashton I Jenkins company Under the old law many holders of ot 1 real 11 estate making I good profits in their regular lines of I I endeavor w were re required to hold their i l property because the law subjected I them hem to additional taxes which took I as as high as 70 per cent of the pi profIts of its I Experience has taught that where taxes are made too high they do not function or collect mone money said Mr 1 I Richardson For this thib reason a provision provision pro pro- vision was Inserted In the new law an owner selling capital assets assets assets as as- as- as sets which have been owned for two per pet cent of the net profits even If his income Is such as to place him himIn In hl the surtax Under the old law he would have been beell required to pay as high as 70 per cent of the profits The change should have the effect of bringing out properties which have been frozen by the unwillingness to go 70 30 with the government The operator op operator operator op- op may no toty v estimate what he will receive and what the government will get when he sells a piece of real es es- es tate |