THE BUDGET PROPOSALS.

New Zealand Herald, Volume LIII, Issue 16266, 27 June 1916, Page 9

THE BUDGET PROPOSALS.

OPINION IN CHRISTCHURCH. BUSINESS MEN'S RESOLUTIONS. iBT TELEGRATH.— ASSOCIATION'.] Chiustchuhch, Monday. The council of the Canterbury Chamber of Commerce has agreed to the following resolutions:—That the raising of war loans free of income tax is unsound in principle, and that the right of the State to taxation should never be foregone; that the council considers the present an inopportune time to abandon the mortgage tax previously in force; that the Budget proposal to exempt from taxation income derived or received in New Zealand from sources outside of New Zealand goes too far at the present time, but that such income should be taxed only at the rates in force for the financial year commencing on April 1, 1914, if the recipient satisfies the Commissioner of Taxes that such income is liable to a war income tax or a like tax in Great Britain or any British possession or any possession of our allies in the present war, and that such tax has been duly paid. As regards the war bonus to civil servants, the council resolved: That the principle of taxing one portion of the community for the purposes of paying a war bonus to another portion is unjust and inequitable, and, in any case, only tends to increase the cost of living. It was also resolved: That in arriving at the triennial average profits for the purposes of taxation of war profits the increased capital of trading concerns should be taken into consideration that the council approves the principle of taxing actual profits made as a result of the war; that the Government be asked to exempt contributions to patriotic and war funds from extra taxation, by permitting such to be deducted from war profits.