LIVESTOCK VALUES
AMENDMENT FOR TAXATION PURPOSES
(P.A.) WELLINGTON. March 4. “Livestock values have been troublesome for a long time and the Government is keen to assist every farmer to overcome the difficulties involved, said the Minister of Finance (the Kt. Hon. W. Nash) in a statement on the amendment to the Land and l nc °JJ e Tax Act passed last session. The amendment made provision for farmers to amend their livestock standard values as used for taxation purposes. “The adoption of low standard values.” said Mr Nash, “might result in a large assessment of income when the livestock is disposed of or on the death of the taxpayer. The amendment to the law enables farmers who have been using unduly low values to apply for an adjustment nj values and obtain a measure of rene* from tax. « “This matter affects every farmer. said Mr Nash. “In order that there should be no misunderstanding an - where arrangements have been ®aa for a full and detailed explanationit be printed in pamphlet form ana distributed.”
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Bibliographic details
Press, Volume LXXXII, Issue 24816, 5 March 1946, Page 4
Word Count
173LIVESTOCK VALUES Press, Volume LXXXII, Issue 24816, 5 March 1946, Page 4
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