LETTERS TO THE EDIT

Dominion, Volume 10, Issue 3180, 3 September 1917, Page 6

LETTERS TO THE EDIT

THE FINANCE BILL Sir,—lt is a curious commentary on the provisions of the Finance Bill which penalise companies (amongst others) for not having subscribed to last year's War Loan, that fresh clauses havo just been introduced into the Bill authorising companies to subscribo, The inference from these new clauses is that it was illegal for many companies to subscribe to the last loan. Thus they are to bo penalised for not having <lono something which it waa unlawful for them to <10. In any case, retrospective penalties arc wrong. Every person who subscribes through a company ought to be allowed to deduct his share of the company's subscription from tho amount which he is required to subscribe as an individual. Otherwise his obligation, to subscribe is duplicated. Likewise, in the case of small private companies, consisting of a few individuals, the amounts subscribed by its members in their personal capacity ought to be deducted from the subscription which can be required of their private company. Otherwiso, those individuals are saddled with a double obligation.—l am, etc., S. S.' BLACKBTJENE.

' Sir,—-Since posting my letter to you on this subject, I hare received a letter from Sir Joseph Ward, who says that, in the case of a private company, owned by a few persons, "the amount of the conipulsorv contributions would bo ascertained "by a reference to the tax by tlie persons and the company. I see nothing to indicate this in the Bill, but I suppo.se the Minister of Finance means that this is the course which would be adopted by the Commissioner of Taxes.—l am, etc., S. S. BLACKBURNE.