LAND AND INCOME TAXATION

Press, Volume LXXXVII, Issue 26523, 11 September 1951, Page 6

LAND AND INCOME TAXATION

Committee Presents Report

CHANGES URGED i IN SYSTEM

(New Zealand Press Association) WELLINGTON, September 10. Far-reaching changes in the land and income-tax system have been proposed by the Taxation Inquiry Committee, which has handed its report to the Government. The committee has examined not only land and income tax, but social security taxation, and has reported on a proposed consolidation of taxation legislation in these fields. The committee, under the chairmanship of Mr T. N. Gibbs, was appointed in March last. It comprised 15 representatives of various national organisations that had made representations to the Government on tax reforms.

The committee was asked to report to the Government on alterations considered desirable, the relation of taxation to the national economy, the effect of any proposed alterations on the national economy, the rates of taxation, and the total yields of land tax, income tax, and social security tax. The committee held its Anal meeting last Friday, when the report was handed to the Minister in charge of the Land and Income-tax Department (Mr C. M. Bowden). The ActingPrime Minister (Mr K. J. Holyoake) was also present. Mr Bowden thanked the committee for the painstaking consideration it had given to its task. The committee had dealt with about 100 submissions. Mr Bowden said to-night that the report would be considered by the Government in due course. Until that had been done he was not in a position to make any statement on the nature of its recommendations.