THE TAXING PROPOSALS.

Taihape Daily Times, Issue 220, 6 September 1917, Page 6

THE TAXING PROPOSALS.

SIR JOSEPH WARD INTERVIEWED WELLINGTON, Sept. 4. Delegates appointed at a meeting held to consider the taxation proposals waited on the Minister of Finance this evening. The deputationists said there was no desire to escape taxation, and no complaint regarding the amount of taxation, hut they wished the incidence of taxation to be as nearly as possible fair. The present tax on joint stock companies was likely to press hardly on shareholders receiving small amounts. Relief,, it was understood, was provided to £3OO, a year, but no relief for those getting just over £3OO. The deputation asked that the inequalities which would be inflicted on shareholders receiving moderate sums should be remedied. It was suggested that some people should pay more than they were being asked to pay. 'A man' getting £4OO a year should be prepared to pay more than £6 6s, taxation, and a man getting £SOO, more than £l2 10s. A man getting £I,OOO should pay more than £7O.

If men getting, these incomes were deriving them through a company investment, they would have to pay from five to ten times these amounts.

Sir Joseph. Ward, replying, said company taxation had been one of the great troubles of the Budget. The trouble with company taxation %vas to arrive at something fair all round, and the problem was not easy of solution. It had been suggested that there should *be a flat tax, but that would not work ©ut as well. Some people thought he had not been able to find a satisfactory way of dealing with the matter,, and, exemption to £3OO had been made to ameliorate, not finally remove, the trouble. He thought the only way would be for him to go into it again to, see if £3OO could be extended. If such extension meant that a lot of money would have to be made up, they could be sure it would be made up, because the money had to be procured. He would go into it again, and if he could make .it more equitabe, he would. He intended providing for wasting assets, but found that the revenue lost would be so great that he would have to put additional taxation on some people.