legislators were presented with two measures to change decisions he took as Finance Minister in the last parliamentary year.

The Stamp Duties Amendment (No. 3) Act 1995 repeals altogether the controversial provision to levy a 10 percent capital gains tax on foreign-owned homes being sold.

The Miscellaneous Taxes Amendment (No. 2) Act 1995, seeks to delay until January, 1997 an equally controversial provision to levy fees on specific professionals who register with industry organisations.

In his February 15 Budget, then Finance Minister announced "a ten percent stamp duty on the gain in value on the resale of (property purchased by non-Bermudians) with the duty being paid by the vendor''.

It led to claims from the real estate industry that the market for foreign purchasers would die.

The tax, which was to take effect immediately, was to be applied to the entire difference between the vendor's original purchase price and the sale price.

Non-residents buy a Government licence to own land that is calculated at 20 percent of the purchase price of the property, or 15 percent for a condominium. Only about 250 houses on the Island are eligible to be sold to non-Bermudians, as a result of having a high enough ARV (annual rental value).

By the end of June, in the face of criticism from both sides of the legislature, Dr. Saul relented, agreeing to repeal the measure on the grounds that it was discriminatory and retroactive.

The repeal is to take effect on instruments executed on or after January 1, 1996, although one vendor had already paid the fee and was to be reimbursed.

Meanwhile, the February budget also controversially insisted that every registered member of a professional organisation pay a new tax, which ranged from $50 a year for nurses, occupational therapists and radiographers to $2,500 for doctors.

The new professional tax has already been adjusted once, to exempt young professionals from paying the fees in their first three years of practice.

Members of the Institute of Bermuda Architects and Institute of Chartered Accountants -- except newly-qualified ones -- were to pay $2,000 a year, starting in January.