THE LOAN.
THE COMPULSORY CLAUSE. '(From Our Own Correspondent). ■Wellington, April 8. The extension of the period for subscriptions to the War fcoan and the statements made by the Minister for Finance regarding the possible operation of the compulsory provisions of the Finance Act, 1917, suggest that some people are not producing their money as quickly as the Treasury expected. The Minister has mado it quite clear that if neces-ary the compulsory clauses of the Act will he applied. These clauses apply only to persons whose taxable incomes exceed £7OO a year. The obligation is to subscribe to all the war loans so far floated in New Zealand, including the present issue, four and a-nalf" times the total of the taxpayer's land tax and income tax, exclusive of excess profits tax, for the year ended March 31, 191(1. The compulsory clauses may be brought into operation by direction of the Minister for Finance at any time after April 15, when subscriptions to the loan will close.
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Taranaki Daily News, 11 April 1918, Page 6
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166THE LOAN. Taranaki Daily News, 11 April 1918, Page 6
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