WAR LOAN

Dominion, Volume 11, Issue 193, 4 May 1918, Page 6

WAR LOAN

GOVERNMENT ACTION REGARDING COMPULSORY CONTHIBUTIONS. ,

The Hon. A. M. Myers, Acting-Minis-ter of Finance, last evening made ths following statement regarding tho fiections of the Finance. Act of last relating to compulsory contributions to the War Loans— "The Government considers it advis* able that the public should-be informed of Hie procedure which will be adopted with regard to the enforcement'of tnesa provisions. ■ Voluntary applications for \Vnv Loan securities will continue to be received, provided that in the case of taxpayers who 'havo 'not' subscribed any amount to any War, I-oan .no applications will bo accepted after May 31 instant. "After May'3l Hie Commissioner of Taxes will-issue statutory notices to those taxpayers who.have not'subscribed, and who,'in his opinion, should' be called upon to do so. • These notices will be subject to appeal, but.-any. ataounte conipulsorily obtained "in imrsui\uce of these notices will'be subject to imerest at 3 per cent. only. '■■■' "In the case of persons who have 6ub« Kcribcd to the War Loans,' lint whose sul>' scripfions do not appear to (k sufficient, the Commisidner of Taxes will first coinnniiiicate by letter with the enbscribew, beforii forwarding him the statutory notice in accordance with the Act. Such'subscribes, therefore, will have an opportunilyXof arranging matters with the Coinmisioner of Taxes before the compulsory provisions of Hie Act aro pub into operation iu.their ease."