FOR MAN ON LAND

Sun (Auckland), Volume II, Issue 391, 27 June 1928, Page 18

FOR MAN ON LAND

RELIEF FROM MORTGAGE TAXATION URGED ATTRACTING INVESTMENTS “Something must be done to assist the New Zealand farmer, especially in helping him to renew his mortgages as they fall due,” declared Sir James Gunson yesterday, when addressing the Auckland Advertising Club. Though acquainted with the helpful character of recent legislation, he said, including the rural credits scheme, he was convinced that even something more was required to ease the situation, to stimulate production, and to make the farming community fully active. There was an abundance of capital, he declared, aw'aiting investment in New Zealand. He wanted to know why the farmer was not obtaining a fair share of it for developmental work. Unfortunately there was a lack of confidence in lending on the land. The high rate of taxation on mortgage investments made them relatively unattractive to the capitalist. “If this form of taxation were made lighter more money would be placed at the disposal of the man on the land,” said Sir James Gunson, who declared that New Zealand was now round the corner, and 1929, he believed, would be “a record year.”