Farmers Seeking Unity On Tax And Death Duties

Press, Volume XCIX, Issue 29268, 28 July 1960, Page 17

Farmers Seeking Unity On Tax And Death Duties

(New Zealand Press Association)

WANGANUI, July 27. - In an attempt to get the farming community united on the "important issues” of capitalisation of stock, death duties and farmers’ taxation, the Wanganui Federated Farmers provincial executive has sent circulars soliciting support for this objective to all Federated Farmers branches.

The circular also suggests to provinces that they approach all Parliamentary candidates to obtain their views on these matters, which the Wanganui executive considers, are the principal issues exercising the minds of farmers at the present time. The Wanganui president (Mr R. S. Lilburn) told today’s meeting that the executive had set up a problems committee which had concluded it would be better to concentrate on two main issues affecting farmers rather than a number of individual problems. The circular suggests that all

provincial executives press for the implementation of the major recommendations in the reports of the Royal commission on the sheepfarming industry and the special taxation committee as they affected farm taxation, and that an approach be made to all Parliamentary candidates to obtain their views on the following issues:— (1) That farmers’ breeding stock should be capital stock. (Royal commission on sheepfarming industry, 1959.) (2) The recommended adoption of the principle that taxable income from livestock be the net annual production from such livestock and, accordingly, that the basis flock or herd be treated as fixed capital. (Taxation Committee, 1951.) (3) That succession duties only should be levied when the value of a property is more than £30,000.