WAR PROFITS TAX.

Taihape Daily Times, Volume 7, Issue 348, 2 December 1915, Page 4

WAR PROFITS TAX.

DOES NOT PRESS HEAVILY.

ONLY LARGE FARMER PAYS

"With regard to war-tax on profits, ’ ’ said the Prime Minister in an interview, "I think an unnecessary amount of noise is being made by one or two of the organisations who have apparently discussed the proposal properly considering or understanding it.

‘ ‘ The principle is that part of the war profits made by individuals should go to the State for war purposes. and this principle was unanimously affirmed in Parliament, The ordinary land tax has not been increased in the very slightest; the Graduated tax has been increased by 50 per cent., but this does not commence until the landowner possesses land of an improved value of £5,000. By the new provision to which some objection is taken in certain quarters the farmer is allowed annual exemptions of 5 per cent, on the capital value of his land, and of £3OO on incomes, before his special war tax commences. My own opinion is that onla a very small percentage of the smaller farmers will pay anything under this heading, and those farmers who will be called upon to pay are able and willing to do so. 1 ‘ The Government must have money to carry on the war, ’ ’ said the Prime Minister, “and we have endeavoured to spread the increased burdens fairly and equitably, and the great majority of people think we have been successful.”