COMPANY TAXATION.

Auckland Star, Volume LVI, Issue 216, 12 September 1925, Page 15

COMPANY TAXATION.

THIS TEAR'S REDUCTION. SIR F. D. BELL'S DEFENCE. I (By Telegraph.—Parliamentary Reporter.)' WELLINGTON, Friday. Speaking on the Land and Income. Tax Annual Bill in the Legislative Council' this afternoon, Sir Thomas Mackenzie referred to the fact that much.political' capital had been made out of the large concession given to those in receipt of I £10,000 income and more. He expressed the opinion that higher incomes should have been left unaltered, and that reductions should have been made on smaller incomes. He also advocated concessions in Customs taxation. "I am sorry to hear in this Chamber," said Sir Francis Bell, Leader of the Council, "an echo of views which are advocated elsewhere for the purpose of misleading the taxpayer, and more than that misleading a number of people who do not pay income tax at all, but who are easily led 4 into believing that the" Government is engaged in fostering and pampering the rich man." The attempt of the Government to reduce the excessive burden of taxation created during the war had been constantly resisted and again resisted, ■with much emphasis, this year, because of the idea that by dragging exorbitant sums from companies the community would benefit. He condemned that as a delusion. He did not think the rates could have been more fairly adjusted than they had been under the bill.