FINANCE BILL.

Hokitika Guardian, 17 December 1921, Page 1

FINANCE BILL.

'J PASSED BY HOUSE. SPECIAL TO GUARDIAN. WELLINGTON, Doe 16. S The House went into committee up--1 mi the Finance Bill early this afternoon 1 The leader of the Labour Party had ! stated he intended to “exhaust the J forms of the House” in opposing the J per cent, rebate of income tax and a increase in amusement tax, hut the I tlirentened stonewall did not become a 0 a serious affair. Mr Massey said he a was quite sure that the rebate mi inJ tax was a move ill the right dtr- *| eetioii. Nothing was injuring the pros--3 parity of tile Dominions more than the f excei-dinglv heavy taxation on incomes i and land. He desired to readjust taxaijj tion on incomes and land. He desited % tion so that it would not press s . lioav--j ilv on individuals. Sj '.Mr Veitcb (Wanganui) said some |1 wealthy people were putting their monv (iy into free ol income tax dehentwiics, fji which they bought Ht a depreciated c’ price and so were escaping taxation altogether. The consequence was that A business men who contributed tu the prosperity and development of the T country bad to. pay the taxation that :|] •eltby investors avoided. H Mr .Massey replied that the Dominion must stand by its bargain. Ibere was H no way of reducing the taxation at j present except by spreading it more i widely. j Liberal and Labour members opposed : the clause granting a rebate of income ' ) tax,' lint they did not carry their op’s position very far. A division was roach- ; • ed soon after mid-ttight. and the clause wats retained by A2 votes to 26. !] Mr Massey presented a new clause roll luting to the amusement tax. Tt projJ posed that tickets costing less than ■ ninepenee and under 2s 6d should pay y one nanny per shilling, or part of a - I shilling and, that tickets costing ovei As (}d should pay at the same rate plus is; an extra penny. A; Laliottr momhers made brief protest ly against this clause which was adopted i by A 8 votes to 18. The Hill was passed.