Greymouth Evening Star. AND BRUNNERTON ADVOCATE. WEDNESDAY, FEBUARY 25, 1920 INCOME TAX.
The Te Awamutu Chamber of Commerce has passed a .resolution in favour of asking' the Government to increase the income-tax exemption from £-'IOO to £'4oo. The grounds given for the request are,that the present high cost of living and the declining value of the sovereign are pressing heavily on the man with 'moderate income. There is a good deal of truth in their contention, but there are many difficulties in the way. The principal means that the Government has of adding to the revenue of the Dominion is by income-tax, and in the present state of finances there is more probability of the exemption be-" ing lowered rather than increased. The income-tax adds £0,000,000 per annum to the revenue, and every penny is badly needed. Under the present conditions a single man gels oft' very lightly. Tie should, therefore, be made to shoulder a higger share of the
burden. In his case, the exemption should be .lowered, but due allowance should be made for any dependents. Very . often single men 'are called upon to look after relatives, and they receive no allowance for this. A single man with no dependents could, however, pay a good deal more in income tax than he is (long- under the present system. It might then be possible to raise the limit of exemption for married men with families. It is the married man with a fixed income, and with a family to bring up that finds the greatest difficulty in struggling along. The dominion requires population, and every inducement should be given to men with families to make their . homes here. The income-tax burden .is especially heavy on such as these, and it is not likely that they, will come to Kew Zealand when better facilities ' are offered elsewhere. The. matter is one that, is sure to come up for ; .consideration when Parliament meets, and the Te Awamutu j Chamber of is deserv- J ing .of thanks ■ for bringing: the ' matter forward in such a public |
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Greymouth Evening Star, 25 February 1920, Page 4
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344Greymouth Evening Star. AND BRUNNERTON ADVOCATE. WEDNESDAY, FEBUARY 25, 1920 INCOME TAX. Greymouth Evening Star, 25 February 1920, Page 4
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