TAXATION BURDEN

Sun (Auckland), Volume II, Issue 387, 22 June 1928, Page 9

TAXATION BURDEN

VIEWS OF CHAMBER OF COMMERCE REDUCTION URGED The council of the Auckland Chamber of Commerce at a meeting yesterday adopted a report of its Parliamentary and Taxation Committee which deprecated the increase in aggregate taxation. A meeting - of the committee had beer, called primarily to deal with an invitation from the Associated Chambers of Commerce to comment on the reply of the Minister of Finance to the Associated Chambers’ representations on taxation. It was decided, after discussion, to allow the question of levying income tax on individuals rather than on companies to drop meantime. The view, however, was expressed that if such a change were at any time made the levying of a ta: on undistributed company profits at anything but full rates was unsound. It was also decided to allow the question of abolishing land tax to drop meantime, the view being expressed that it was neither practical nor desirable to drop land tax at least in respect of farm lands. The following resolution was recommended to the council: ‘'This chamber strongly urges reduction of the present high rates of taxation which retard recovery both from the present stubborn depression and from the present high percentage of unemployment. A comprehensive investigation by the Government of methods of minimising expenditure is long overdue. In view of the reduction over a period of four years amounting to £7,000,000 in dead weight debt, the chamber fails to understand why aggregate taxtaion continues to mount. This chamber strongly urges the vital necessity in the interests of national welfare that relief should be given in income taxation when the budget is being framed this year and stresses that the present budgeting for surpluses is conducive to departmental extravagance.”