Value Of Livestock For Taxation Purposes
WELLINGTON, Oct. 19. An investigation into the principles and practice. of farm aceountancy in connection with livestock values for taxation purposes, was recommended by the agricultural and pastoral committee in a report to the' House of Representatives today. The committee was reporting on a petition from H. E. Brown, praying for consideration of his application for relief under seetiom 37 of the Land and Income Tax Amend- , merit Act 1945. | This section provides for relief from income tax and the social security charge where «-unduly low standard values of livestock are adopted. The committee recommended that the petition be referred to Ihe Government for favourable consideration and that the principles and practice of farm aceountancy in connection with livestock values, be further investigated in order to establish greater equality in the procedures laid down by the Commissioner of Taxes and that special consideration be given to flxing standard j values based on the average market Jprice over a period of years.
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https://paperspast.natlib.govt.nz/newspapers/CHRONL19491020.2.36
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Chronicle (Levin), 20 October 1949, Page 5
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167Value Of Livestock For Taxation Purposes Chronicle (Levin), 20 October 1949, Page 5
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