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Wairarapa Age, Volume XXXII, Issue 10086, 6 September 1910, Page 5

UNKNOWN

CIRCULAR BY FARMERS' UNTON.

The question of amending the present system of valuing land for tax* ation purposes, which was brought before the recent Dominion Conference of the New Zealand Farmers' Union, has been remitted to the branches of the union for consideration. The remit, as it was sent to the conference, was as follow: "That as the present system of valuing land for taxation purposes has proved a complete failure, owing to the impossibility ot accurately separating the improved from the unimproved values., a much fairer and more Bimple'way would be to tax on the annual value, with the same exemptions as those on capital invested in other industries, the annual vilue to be 5 per cent, cf the capital value." The matter was referred to the branches on account of varying opinions as to a basis of valuation, some delegatess considering (hat the proposal would diwi the taxing of improvements On the othsr band, it was almost unanimously agreed that the present system had proved a failure. The bran has are now asked to state their v -ws regarding the following points:—l. Whether the system should remain as it is; 2. whether it should be I based on the capital value; or 3. on the annual value.