THE LAND TAX

Manawatu Herald, Volume XLVI, Issue 2731, 10 May 1924, Page 3

THE LAND TAX

’ CONDEMNED BY FARMERS. The burning question of taxation was considered at the meeting of the Dominion executive of the New Zealand Fanners’ Union in Wellington on Wednesday. The matter was referred to a sub-committee, consisting of Messrs A, E. Harding, R. D. Duxfield, G. L. Marshall, and W. B. Matheson, who submitted the following report: —“We are of the opinion that the land tax being a form of capital levy, is had in principle, being a class tax, and wo are in favour of its abolition, and that the income tax should apply to incomes from all sources. We consider that in the event of the land tax being continued, the exemption should be. raised to £3OO, seeing that the income tax exemption is £3OO, which, capitalised is £6,000. We consider that the present system of debenture taxation should be amended so as to make the levy the same rate all round, giving no advantage to local bodies or any other section of the community. Seeing that, during the past years the. farmer borrower has been penalised under the present system; that the prosperity of the Dominion so largely depends on the primary producer: and that settlement of unoccupied lands is so vital; we consider that if any differentiation he made it should he in the direction of encouraging investment in rural securities.”

The subject was discussed at length in committee, with the members of the Parliamentary Committee, Messrs McLeod, Masters, Sykes, Ransom and MaePherson. The report was adopted.