WAR PROFITS

Dominion, Volume 9, Issue 2821, 12 July 1916, Page 8

WAR PROFITS

Sir,—May I mention a matter that sveius t<> need emphasising? Much is lving said about the fat war profits farmers arc making, and also about the generous 'treatment these same farmers aro receiving in being taxed at only 45 per cent, of their excess profits, Let us not forget, though, that they aro also being charged the farming income tax, w hicli is entirely .a war tax, and a very substantial one too. As regards their increased income, it is hard to say what the average extra profit from wool, mutton, etc., amounts to, but 25 per cent, is perhaps a fair average to take. Let mj therefore work on. this basis, and take the casu of a farmer whoso assessable income before the war was .£5600. Add 25 per cent., ;.nd we find that he now Ims an assessable income of .£7OOO, liia excess profit being -SHOD. The war faxus proposed to be charged him this year ir« as follo\yj— •ESGOO at 3s. Sd. in the £ .£1,026 •BUOO at 15 per cent (KM Total J!t,65G Thus we find that he doe.s not give uj» only 45 per cent, of his excess profit ti <£1400,' but absolutely the whole of it, and a considerable sum besides. In addition to this, he still has to pay his la'id and graduated land taxes, the latter being charged with a auper-tax of 50 p«r cent, for war purposes. I am not r. fajmor, but I do liko to see FAIR- PLAY. Hastings, July 10. 191.6.