HARDSHIP LIMITED
(N Z. Press Association) WELLINGTON, August 18. Additional hardships will be imposed under the Land and Income Tax Amendment Bill on long-term tax evaders whose evasion extends back beyond 10 years the Minister of Finance (Mr Muldoon) told Parliament on Friday. But he emphasised that his department was nnable to conceive how the new provision would impose hardship on any other person. The bill gives the Commissioner of Inland Revenue power to go back indefinitely into tax records
in cases where wilful evasion of tax is suspected. At present there is a 10-year time limit. Mr A. i. Faulkner (Lab., Roskill) claimed that the measure would not only impose an unnecessary burden on the taxpayer it gave the tax commissioner unnecessary additional power. “If the commissioner cannot solve his problems in the 10-year period, then there is no advantage other than power for power’s sake,” he said. The bill was put through its clause-by-clause committee stages.
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Bibliographic details
Press, Volume CVIII, Issue 31761, 19 August 1968, Page 26
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158HARDSHIP LIMITED Press, Volume CVIII, Issue 31761, 19 August 1968, Page 26
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