THE SOLDIERS’ LOAN

Dominion, Volume 14, Issue 284, 25 August 1921, Page 6

THE SOLDIERS’ LOAN

COMPULSORY SUBSCRIPTIONS NOTICES NOW BEING ISSUED The Commissioner of Taxes is at proBent issuing notices under tho compulsory provisions of tho Discharged Soldiers Settlement Loan Act of last year. The amount of the loan authorised under this Act was £6,000,000, and the Government called for the full amount, The subscriptions amounted roughly to £4,500,000. The Minister of Finance (Mr. Massey) stated after the announcement of this result that he did not intend to apply the conipulsary provisions of the Act immediately, in view of tho financial stringency that bad arisen, but he indicated that persons who were liable to subscribe to the loan and had not done so would be called upon later. The remaining portion of tho loan is required now in order that funds may be available for tho discharge of the Goveamment’s commitments under the soldier settlement scheme. It appeal’s that some taxpayers ntyve been under tho impression that. the provision for compulsory subscriptions had . been finitely suspended, but the notices make it dear that this is not the case. The Act provides that the amount which any taxpayer may be required to contribute to the loan shall not exceed the yearly overage of the land and income "tax paid or payable by him for the three years ended March 81, 1920.