FARMERS AND THE WAR TAXES.

Dominion, Volume 8, Issue 2558, 4 September 1915, Page 3

FARMERS AND THE WAR TAXES.

/ Sir,—Might I, on behalf of tlho farmers,' draw . attention to a point which lias probably, not escaped notice, v but which-has not: been spoken, of'vin 'connection ,mth the proposed . taxation- of his surplus profits ? liie Treasurer sugr , . gests tthat; ;to : , ascertain the farmers income:the -sum of ;5 ■ per- cent, on the : capital value, of his lani should, together with the £300 exemption, bo de- : aucted froin' his - total -iiicome'and in- ' 'come tax be charged upon . the balance.,; But tho land is only one item - hp'on which; his..incomo depends. Ha has of course besides .labour to invest a considerable sum in: stock or implements,- etc., according to the class of farmer he llelongs to. .If t-hen his surplus'income is to bo taxed in this way ,he .should ceftairily be allowed; interest .on.his-capital invented,ill.his stock and ; implements, ..or .else, he will'be. paying incomo' tax upon; capital. The allowance of. £300 is only- what others have: Many farmers have as • much invested in their stock as their land, and some allowance must be made if .his income is to be asceirtained- : upon a fair-basis, -apart,: of "cohrse,''-altogether., from the' principle.'—l -.'am,'etc,,', i : i JAMES 6. WILSON.