TAXING STAMP DUTY

Evening Post, Volume CXV, Issue 129, 3 June 1933, Page 10

TAXING STAMP DUTY

(To the Editor.) Sir,—l notice you have twice drawn attention to the extraordinary anomaly of unemployment tax of Is in the £~being charged upon the 20 per cent, stamp duty imposed upon local body, interest coupons, and yet, so far those in authority have made no reply to your reasonable suggestion that the matter should be set right. It is, of course; absolutely preposterous as it now is, since holders of such coupon's never receive this, 20 "per cent, at all, because* one has to pay away the 20 per cent, stamp duty before one "can receive anything at all in./ the way of interest. I do not think, many of us aro averse to the 20 per cent.,^reduction in interest; but it does seem Unfair that local bodies are invited to compulsorily renew existing loans for long terms at the present fixed low rates of interest; f I understand the Conference-to which;.our Prime Minister hasgone may be the means of raising world prices and wages; in vrhich case, where will holders of stocks at: low rates of interest come- in' when <thd.cost of living necessarily rises again?—l am,, etc.,' ' ■ , : : ' :■' '< ■ ;.■ . : ' ■ , ■;ONE.OF; MANy.