DREADNOUGHT TAX.

Dominion, Volume 4, Issue 1091, 1 April 1911, Page 10

DREADNOUGHT TAX.

ENDED YESTERDAY. Two sessions back, in 1909, a surtax of 1 per cent, was imposed by Parliament on tobacco, cigars, cigarettes, and 2i per cent, on all other dutiable goods, in addition to otlier duties, for the purpose of meeting the interest bill in connection with our gift of a Dreadnought. This surtax camo to an end yesterday. During last year—to December 31 — tlio extra taxation raised in this way amounted to £'62,359. Warehousemen declare that the tax has been a sourco of nnnoyanco to them. It was easy to pass on tho extra charge in the case of most of the goods coming under the one per cent, increase, but not in tho case of general articles. The smallness of the tax also made it almost impossible for retailers to pass it on to tho customers ; therefore tho retailers have been the chief sufferers. Tobacconists, for instance, said they lost 28s. per caso on tobacco, at the rate of 2d. ner lb. Ono result of tho dropping of tho surtax has been tho filling of the bonds with all descriptions of dutiable goods. Stocks in many of tho warehouses, therefore, havo been getting low, and tho clearances to-day should bo heavy. It is staled, however, Hint notwithstanding this holding hack, it'is moro than likely it will he found that this year's Customs revenue will far exceed anything previously recorded in New Zealand.