INCOME-TAX PAYMENT.
DANGER OF EXEMPTIONS. By Telegraph .--Press Association. Wellington, Sept. 15. Tn reply to a resolution by the Hospital Boards’ Conference, asking that voluntary donations to boards should be allowed as deductions from profits for the purposes of income-tax, Mr. Massev has replied that he cannot agree. The assessable income of the country is 40% millions, and the special exemptions already allowed have whittled it down to 284 millions. To allow more exemptions will lead to the raising of the tax. He did not think it wise to extend the exemption practice, for other cases, such as educational, religious or patriotic movements would have to be included, and the taxable income might reach the vanishing point.
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Taranaki Daily News, 16 September 1922, Page 5
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117INCOME-TAX PAYMENT. Taranaki Daily News, 16 September 1922, Page 5
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