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THE MORTGAGE TAX.

_BOI_TION. BECOMMENDED, (By Telegraph-—Press Association.) INAPIER, "Wednesday. _ special general meeting of the Na Slier Chamber of Commerce was helc to-day to consider the financial stringency now being- experienced in the Dtunini-j jon- About twenty representative mem- ] "bers -were present. After discussion, the following motion was u__—nously agreed to, viz., "3_at -whereas the mortgage tax has been found to he the cause of a large amount of capital being withdrawn from New Zealand and to restrict the of capital for investmeiit, and to create —Ban—a] stringency in obtaining loans required for the legitimate development of the .eo—rtr. natural resources, She attentic— of the Government be called to the position, and it be suggested •that the mortgage tax be abolished; ifnrther, that in lieu-thereof all income derived from the investment of capital on mortgages be made subject to income tax, that a graduated tax on capital invested in the shares of public comjames ba levied on the -paid-up value of Eucb. shares only, instead of as at present on the proportion of such —lares ito the total value of land owned by public companies, irespective of their liabilities." Ii was also decided to bring the resolution before the Prime Minister, and before -the coming conference of representatives of the various chambers of com•jneree in "Wellington.

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THE MORTGAGE TAX. Auckland Star, Volume XL, Issue 72, 25 March 1909

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