WAR TAXATION.

Manawatu Herald, Volume XXXVII, Issue 1453, 30 September 1915, Page 3

WAR TAXATION.

THE ALTERED PROPOSALS. The Finance Minister (the Right. Hon. Sir Joseph Ward) brought down his taxation proposals by Governor’s Message on Tuesday. Since the introduction ot the Budget proposals there have been some adjustments, placing very heavy work upon the Treasurer. The alteied proposals increase the tax on mortgages of % d, making the tax now id in the £. This will mean an increased amout of ,£60,000. The Bill makes an adjustment of the taxation on mortgagees who now escape an increase in the shape of war taxation. The increase will be in the direction of providing for the income tax after deducting the amount paid on mortgages by way of land tax. The alteration will ensure the payment of income tax upon receipts over and above what amount will be taxable under the old mortgage system. It is estimated that this alteration will yield au additional revenue of about ,£30,000 annually. On beer there is an increased rate proposed, which will yield, roughly, £20,000, making the amount now payable in additional beer duties between £70,000 and £BO,OOO. The Budget proposals of taxation upon motor oils, kerosene and petrol are removed. This includes all motor spirits. A difficulty, it is understood, has been found in discriminating between the oils and spirits used for industries, and it was impossible to relieve kerosene without similarly treating petrol. The amount of the removal will be made up by additions hi Customs duties —i sum of £194,000. Telephone bureaux fees, which it was proposed to double, the Finance Minister has allowed lo stand as they were—at 3d. The altered taxation will yield the equivalent of the first Budget proposals, the whole amounting to about two millions. The land and income tax proposals of the Budget stand.