THE EFFECT OF OUR TAXATION.

Press, Volume XLIX, Issue 8349, 7 December 1892, Page 3

THE EFFECT OF OUR TAXATION.

TO THE EDITOB OF XHS PBESS. Sib,—-As illustrating the manner in which the Government are persecuting business men and taxing and destroying all enterprise and confidence "in the community, in March last a friend of mine lent ,a sum of .£7OOO for one month at 6 per cent, per annum, taking as security a mortgage over a valuable freehold. The total interest payable for the period was £35. On the 31st March, the last day of the period for which returns were called under the Land and Income tax assessment, my client found himself the holder of a mortgage for £7000, and he had to make his return accordingly. He now finds that he haa to pay a year's land tax iv respect of the property included in his mortgage, amounting to £29 3s 4d, aud that he can make no claim on the mortgagor for contribution or apportionment. Mo wonder that many of those who were giveu to blessing the Ballance administration are now devoting their energies to the double purpose of reviling the Government and cursing their own fatuous ignorance in supporting such a combination.—Yours. Sec, Financial Agent, December sth, 1892.