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F.ebNAV' 28 . Imposes Penalties on Rev-- enue From Foreign Per-- sonal Corporations en n en INDUCEMENT TO MONEY : Other Provisions Bring Con-- formity With Dominion Legislation 4 " Second reading was given in the Legislature yesterday to the Gov--| ernment's Income 'Tax Act amend--| ment which imposes penalties on' Individuals who derive income from personal corporations outside Can-- ada, or who make their head office outside the Province. Other pro-- visions bring the Provincial Income | Tax Act in conformity with the Federal Act. "The main change refers to por-- sonal corporations," said Hon. Paul Leduc, sponsor of the bill. "Certain people living here are incorporated under the laws of foreign countries, or have their head offices in for-- eign countries, and have trans{erred there a substantial portion of their * wealth. _ The amendment to the act is to induce them to bring their wealth back to Ontarto where it was earned, most of it from the | natural resources of the Province. . Other Acts Progress, t Second reading was also obtained to amendments to the Mining Tax Act, the Succession Duties Act and the Employment Agencies Act. The first of the three provides, among other things, that incorpor-- ated companies must pay their cor-- poration tax within six months of the date of the close of their fiscal year periods. The Succession Duty Act amend-- ment is designed to prevent the cutting down of the value of an estate by the creation of unwar-- ranted liabilities for wages to a member of the family. In explaining the purpose of the amendment to the Employment Agencies Act, Hon. David Croll, Minister of Labor, said that it gave the Government power to regulate private employment agencies who # profess to deal with executive help and charge for servces which might, or might not be given. | Investigations Made. "We have investigated several of these bureaux," said Mr. Croll. *"There was one that had 122 regis-- trations at $50 apiece. Of this number they obtained twelve or thirteen jobs. It is time the Gov-- ernment stepped in and regulated this business and let the individuals who run them know that we are prepared to step in and stop their operations unless they conform to sound business practice." *