COMMERCIAL

Dominion, Volume 22, Issue 80, 28 December 1928, Page 12

COMMERCIAL

AUCTION SALES TO-MORROW: Waikanae, 2.30 p.m.—Sale of 40 residential sections (N.Z. Loan and Merc. Agency, Ltd.). TAXATION OF THRIFT >USTRALIAN TREASURERS CRITICISED At the annual meeting of the Australasian Temperance and General Mutual Life Society, the chairman (Mr. T. G. Thompson) stated that, while directors were enabled to detail progress in most directions, they could not say that political influences had worked favourably lor life offices. Such organisations represent the thrift of the people. On the other hand, politicians to-uay could be regarded as the great spending forces within the community. So that they may balance their budgets, treasurers were now attacking incomes of assurance societies. Dr. Page led the way. Later on, the example was followed by the Bavin Cabinet, tn New South Wales. Representations made to these leaders of parties of the heavy .charges to be imposed on the funds created to provide for the welfare of widows and children, at the death of the breadwinner, failed to evoke response. The departure was so far-reaching that it was natural- that Mr. Thompson should refer to the serious effect upon policy-holders of the invasion of the tax collector' into the realms of thrift.