GOLD AND TAXATION.

Auckland Star, Volume LXVII, Issue 179, 30 July 1936, Page 6

GOLD AND TAXATION.

In gold production Australia to-day completely overshadows this Dominion. On the one side of" the Tasman the industry is buoyant and expanding, on the other it is in a struggling condition. While Australia is able to record an output for twelve months of over 1,000,000 ounces, valued at more than £9,149,000, New Zealand's figures for last year were 171,283 ounces and a value of £1,441,790. In five years the Australian yield has more than doubled, New Zealand's has increased by less than 40,000 ounces. For the last three of these years the industry in New Zealand has been held back by the gold duty. It is not too much to say that if the policies of the Governments had been reversed gold enterprises in New Zealand would be at this moment in a flourishing condition, and those in Australia would be making only a slow advance. Those connected with the industry here have protested emphatically against the gold tax, and we have repeatedly commented lon its unfairness. By collecting the comparatively small sum of £107,000 last year in revenue the Government probably prevented the winning of gold representing several times that amount. A new Government is now in office, and a Minister who thoroughly understands mining is in charge of the Department. This should, therefore, be an opportune time to press for the early removal of the tax and more liberal encouragement of the gold industry.