FARMERS AND TAXES
Incomes Should be Taken on Three-year Average
CONFERENCE APPROVES SUGGESTION
A suggestion that, in the case of farmers, annual statements of income for taxation purposes should be based on the average income over three years was made by Mr. It. O. Montgomerie 'Wanganui) at the annual conference of the New Zealand Farmers’ Union at Wellington yesterday. The conference approved the suggestion. Mr. Montgomerie said that this method would give a much more accurate reflection of the farmer’s position than did the present one. It had worked satisfactorily in Australia for a number of years. Mr. W. W. Mulholland, president, agreed that tbe method suggested by Mr. Montgomerie was tbe only just one of assessing a farmer’s income. “Many farmers this year, for instance, will he paying income tax on £lOOO at a penal rate, when they have not had an income at all for five years,” he said. '
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https://paperspast.natlib.govt.nz/newspapers/DOM19370717.2.125
Bibliographic details
Dominion, Volume 30, Issue 249, 17 July 1937, Page 13
Word Count
151FARMERS AND TAXES Dominion, Volume 30, Issue 249, 17 July 1937, Page 13
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