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INCREASING BURDEN OF TAXATION

Need For Removal Of Anomalies APPOINTMENT OF BOARD SUGGESTED “The weight of taxation, which has nearly doubled per capita during the last six years, shows no sign of being reduced; moreover, the social, financial and general economic policy at present being followed must require the load to be materially increased, by further direct or indirect taxation, said the president of the Wellington Chamber of Commerce, Mr. P. E. Pattrick, at the annual meeting of the chamber last night.

"On the other hand, from the Government’s announcement of its intention to bring down a Bill next session to revise and consolidate the land and Income taxation legislation, one is led to hope that appropriate steps will he taken to remove the present anomalies. In particular, I would point to the injustice of assessing tax on theoretical rather than real income, which is the case when normal items of expenditure, such as land tax, are disallowed." Fundamentally, the form of income tax in New Zealand was the same as that of Great Britain; nevertheless, many items of a normal revenue expenditure nature, which were admitted by the British authorities as deductible, were disallowed in New Zealand. Income tax should be regarded simply as the State’s appropriation of its share of the profits, and accordingly the tax should be calculated upon actual and not fictitious earnings. A further matter which required immediate and careful consideration was the appointment of some form of board of review, such as existed in the United Kingdom, where there were Commissioners of Inland Revenue, or such as in Australia, which had its Court of Review. With the high rates of taxation obtaining, and the many complexities that arose, tile Government would do much to retain the confidence of the taxpaylug public if it provided some such easy method of appeal.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19390315.2.64

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 32, Issue 145, 15 March 1939, Page 8

Word count
Tapeke kupu
306

INCREASING BURDEN OF TAXATION Dominion, Volume 32, Issue 145, 15 March 1939, Page 8

INCREASING BURDEN OF TAXATION Dominion, Volume 32, Issue 145, 15 March 1939, Page 8

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