Taxation
Sir,—l refer to your article (May 13) on eight Labour M.P.’s who claim to be opposed to turnover tax (T.0.T.). Their reported statement displays several major misunderstandings of the whole topic. I urge each one of them to study this week’s “Truth” for a full report on T.O.T. The Labour M.P.s omit to mention that all income taxes would be abolished when T.O.T. is brought in. That means that everyone would pay the same low rate of tax (6 per cent-10 per cent). They also omit to mention that all sales taxes would be abolished. That means that many items will actually drop in price. So people from the highest to the lowest income earner will have increased spending power because they are keeping more of their earnings rather than having the tax man grab it. T.O.T. is the simplest, fairest, and most job-creating tax system New Zealand could have. — Yours, etc., NEVILLE EVANS. May 14, 1981. .
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Press, 19 May 1981, Page 22
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158Taxation Press, 19 May 1981, Page 22
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