LAND TAXATION.

Auckland Star, Volume LX, Issue 226, 24 September 1929, Page 10

LAND TAXATION.

CANTERBURY PROTESTS

MODIFICATION PROPOSED

DEPUTATION TO MEET PREMIER.

(By Telegraph.—Owu Correspondent.)

CHRISTCHURCH, Monday,

A meeting convened by the Canterbury Chamber of Commerce, at the request of North Canterbury landowners, "to decide how best to offer constructive criticism of the Land and Income Tax Amendment Bill," was held this afternoon.

The president, Mr. Norton Francis, said that the farmers should pay their fair share of taxation, but they were against a payment out of all proportion to" their earnings.

Mr. W. Machin, chairman of the economics committee of the chamber, moved the following resolutions: —

(1) That in many cases the burden of land tax and special tax as proposed by the Government is so inequitably large that similar provisions to those of sections 30 and 31 of the Land and Income Assessment Act, 1891, should be re-enacted.

(2) That relief in taxation should be granted to those taxpayers who own land which, in the opinion of a properly constituted tribunal, after hearing evidence, is -unsuitable for subdivision.

(3) That in order to give landowners the opportunity of acceding to the wishes of the Government in subdividing and selling portions of their holdings the penalty of special tax shall not take effect until March 31, 1931. Exemption for Mortgages. (4) That the Government be requested to grant full exemption for mortgages in respect of ordinary land tax to those landowners owning land the unimproved j value of which does not exceed £15,000 and to grant full exemption for mortgages in so far as the special tax is concerned, as it is considered that while it is right and proper that farmers should be taxed on an income basis it is inequitable that they should be taxed on borrowed mortgage money. (5) ' That tho commission set up to inquire into and report on cases of hardship under section 3 of the Land and Income Tax Amendment Bill, 1929. should be the Assessment Court constituted under tho Valuation of Land Act, _'5.

((3) That in considering any taxpayer's appeal under the hardship clause the earning capacity of the property ami other relevant circumstances shall be taken into consideration as well as the taxpayer's financial position and the Commissioner of Taxes shall be bound by the finding of the commission. Basis of Valuation. (7) That in order to secure uniformity in valuations of pastoral lands throughout New Zealand it be a recommendation to the Government that the Valuation Office be requested to determine their values of lands according to situation and stock carrying capacity as the basis of the present*system results in serious inequality.

(S) That the Prime Minister to respectfully requested to approve the above recommendations and to have the necessary amendments to the Land ana Income Tax Amendment Bill drafted to give effect to them.

Tho resolution was carried unanimously, and Mr. Norton Francis and Mr. H. S. S. Kyle, M.P., were appointed to present the resolutions to the Prime Minister.