Tax move welcomed
(N.Z. Press Association)
WELLINGTON, Nov. 2
Federated Fanners today welcomed the increase from 25 per cent to 40 per cent in the percentage of net income that farmers may place in the income equalisation scheme. The acting Dominion president of Federated Farmers i(Mr W. N. Dunlop) said that most farmers had so far re'ceived no benefit from the better wool and lamb prices. Also, there was no guarantee that these prices would continue.
"If prices are maintained for the rest of the season, the new higher limit for the income equalisation scheme will help some fanners, both dairy and sheep, to make better use of the improved position by spreading their investment programme over several years. "This will benefit not only the individual farmer but the nation generally as the new provision would help to relieve demand pressure for farm inputs. Excess demand could create shortages and drive up the prices of goods and services,” Mr Dunlop said.
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Bibliographic details
Press, Volume CXII, Issue 33064, 3 November 1972, Page 2
Word Count
161Tax move welcomed Press, Volume CXII, Issue 33064, 3 November 1972, Page 2
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