CENTRAL CHAMBER OF COMMERCE

Dominion, Volume 8, Issue 2494, 22 June 1915, Page 15

CENTRAL CHAMBER OF COMMERCE

GRADUATED LAND TAX. The ordinary meeting of the Central Chamber of Commerce was held yesterday. The president (Mr. C. M. Luke) presided. The members considered Mr. R. S. Abraham's proposals for co-operation in securing an amendment in the - Land and Income Assessment Act. Mr. J. Reid was opposed to the Chamber taking any action in the'matter. ll© thought the tax fair and equitable. Mr, G. Winder held that the principle was bad. Mr. Leigh Hunt contended that all Mr. Abraham desired was that tho narrow ruling of the Commissioner, compelling firms to pay tax on the whole of thoir mercantile buildings if they let one room for other than industrial purposes should be amended. He further desired an amendment of the Act to compel the Government either to grant exemption from the graduated or to tako over land held by "companies, at capital valuation, provided they could not dispose of it in twelve months. Ho thought the requests were only reasonable. _ ' After discussion, Clause 1 of Mr. Abraham's proposal was carried as follows: —"That any company which the Commissioner can class as an ordinary mercantile concern should be exempt absolutely from liability to its shareholders paying increased graduated tax on their personal property in respect of tho purely business promises of such company." Clause 2, asking that the Government should take over land that companies had been compelled to take over under mortgage, or grant exemption, was lost. It was decided to send Clause 1 as a remit to the Chambers of Commerco Conference. Messrs. C. M. Luke, Leigh Hunt, and R. Hall were appointed tho Chamber's delegate to the conference of Chambers of Commerce to be held in August. The quarterly meeting of members was fixed for 3.30 p.m. on Wednesday week, owing to the Palmerston Show occurring this week, the date previously fixed. Mr. Leigh Hunt suggested that the Government should be asked to give the Chamber aii opportunity of considering the proposed scope of the Board of Trade before it was set up. A motion to this effect was carried.