INCOME-TAX BASIS
-Pxess Association.)
Three-Year Average Suggested for Farmers
(J3y Tolegrapii-
WELLINGTON, This Day. A suggestion that, in the case of farmers, annual statcments of income for taxatiou purposcs sliould be based 011 the average iuconio over tlivco years was made by ISli*. R. O. Montgomerio (Wanganui) at the annual conference oi the New Zealand Farmers' Union at Wellington yesterday. The conference approved tho suggestion. Mr. Montgonierie said that this method would give a much more accurate reflection of tho farmer's position than did the present one. It had workeql satisfactcrily in Australia for a uuniber of years. Mr. W. W. Mulholland, president, agreed that ihe method suggested by Mr. Montgonierie was the only just one oi assessing a larmer's income. "Many farmers this year, ior instatiee, will be pa.ving income tax on Ul,(Ki() at a penal rate, when they have not had an income at all for five years," he said.
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https://paperspast.natlib.govt.nz/newspapers/HBHETR19370717.2.106
Bibliographic details
Hawke's Bay Herald-Tribune, Issue 154, 17 July 1937, Page 7
Word Count
152INCOME-TAX BASIS Hawke's Bay Herald-Tribune, Issue 154, 17 July 1937, Page 7
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