Income Tax Bill criticised
PA Wellington The president of Federated Farmers. Mr W. R. Storey, has criticised the Income Tax Amendment Bill.
“It is not a comprehensive approach to the problem of taxation but more a piecemeal attack on what are perceived to be the worst inequities.” Mr Storey said.
The federation was concerned about the large amount of discretion left to the Commissioner of Inland Revenue and at the “complexity and lack of clear definition which in many cases would still require resolution by the courts” before people could understand it. he said.
Some progress had been made in areas where farms were sold because of the death of a spouse or under the Matrimonial Property Act but farmers were disappointed there was no provision for sale through hardship. “Such hardships could occur through adverse events such as droughts or disabling injuries, from which no relief can be obtained,” he said. Mr, Storey advised all farmers contemplating property transactions to discuss first' with their accountants the effects of the bill.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19821211.2.96
Bibliographic details
Press, 11 December 1982, Page 19
Word Count
171Income Tax Bill criticised Press, 11 December 1982, Page 19
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in