The Meal Remedy

NZ Truth, Issue 1146, 17 November 1927, Page 1

The Meal Remedy

There is "only one real remedy 'at present to stamp put ' ;any juggling with, bohtingency accounts, arid that is to make it compulsory bjf law for all' profits pA such transactions, to be credited,, m the interim pending settlement, to the Commissioner. There could ibe no objection to such a course, because, as already stated, such profits under existing conditions are nobody's money (ON PAPER)', and such a remedy would' ensure to the State its rightful tax. , Once the .deal was settled any adjustments of tax could be made, both parties would be satisfied and « the State would get its dve — which m many cases }t is not getting to-day. It only requires brie, or ■ two test cases at law to put an end to tax trickery, . and , the department would probably be surprised to find the annual; returns increasing, .There-can be little doubt that there are many people who. are out to evade incoriie tax. Prose'cutioris m the past prove that.; But how many cases are undisc'pvere'd?— that is the point. It. is npt too much to i say tKat the -State is losing' at the rate of £1,000,000 a year, and if this is indeed a fact, then' the sooner something is done about it the better. . ; The " sources ,of these leakages must be dammed lip, and the problem settled for good and all. M6Einwhile, the ■.' small income tax payery the . salaried man with, no ;chance to evade, is helping %o carry : the burden of the' bigger j fellows' trickWy.' ' .< ': ' " ■■-.•; ■■ #■ ■: ■-■'.'.