THE PROPERTY TAX.
The “Wellington Chronicle” says that an American who brought 60,000 dollars to invest in the colony withdrew it on hearing of the Property Tax. The “ Chronicle ” also mentions the case of a man who draws £30,000 a year from New Zealand without paying a penny to the Tax. The gentleman referred to has over £300,000 invested in New Zealand on mortgages over station property ; and the way he avoids the tax is, that according to all his deeds, the interest due too him is made payable in London by a certain date yearly or halfyearly, the penalty being, that if not paid punctually as provided for ho may at once foreclose. As the gentleman is his own agent, he collects the interest on his money invested in this colony at a minimum of expense.
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South Canterbury Times, Issue 2394, 18 November 1880, Page 3
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137THE PROPERTY TAX. South Canterbury Times, Issue 2394, 18 November 1880, Page 3
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