INCOMES DERIVED FROM LAND.
In tbe application of income tax to incomes derived from land a new and justifiable source of revenue is tapped, says the Auckland Herald, for the agricultural industry has hitherto been exempt from income lax. Considering the exceptional advantages accruing to them from war prices farmers may very fairly be asked to contribute in this manner to the war treasury; 5 per cent, of the value of their land is deducted from their incomes, iu addition to the statutory exemption, so that they are not doubly taxed by an overlapping of laud and income taxes. As the farmers simply do not know how trade in the towns has been effected by the war, having actually derived large profits from the enhanced value of produce they may be expected to accept this war tax with patriotic cheeifulness.
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https://paperspast.natlib.govt.nz/newspapers/MH19150831.2.5
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Manawatu Herald, Volume XXXVII, Issue 1442, 31 August 1915, Page 2
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140INCOMES DERIVED FROM LAND. Manawatu Herald, Volume XXXVII, Issue 1442, 31 August 1915, Page 2
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