BUDGET PROPOSALS

Dominion, Volume 9, Issue 2807, 27 June 1916, Page 6

BUDGET PROPOSALS

CANTERBURY CHAMBER OF COMMERCE RESOLUTIONS. By Telegraph—Ptvss Association. Christchurch, Juno 26. The Council of the Canterbury Chamber of Commerce havo agreed to the following resolutions:— "War Loans.—That tho raising of loans free of income tax is unsound in principle, and that the right of the State to taxation should never be foregone." "Mortgage Tax—Tho Council considers tho present an iuopportunc time to abandon tho mortgage tax previously in force." "Duplication of War Tax.—That tho Budget proposal to exempt from taxation income derived or received in New Zealand from sources out of New Zealand goes too far at the present time, but that such income should be taxed only at the rates in force for tho financial year commencing on April 1, 1914, if tho recipient satisfies the Commissoner of 'Taxes that such income is liable to a war.income tax or a liko tax in Great Britain or any British possession, or any possession of our Allies in the present war. and'that euch tax has been duly paid."

"War Bonus to Civil Servants—That the principlo of taxing one portion of the community for purposes of paying a war bonus_ to another portion is unjust and inequitable, and in any case only tends to increase tho cost of'living." "Taxing on War Profits.—That in arriving at tho triennial averago profits for tho purposes of taxation tho increased capital of trading concerns should be taken into consideration. That this council approve the principlo of taxing actual profits made as a result of the war."

"Subscribers to Patriotic Funds—That the Government be asked to exempt contributions 'to patriotic and war funds from extra taxation by permitting such, to be deducted from- war profits."