LOW STOCK VALUES
FARMERS’ DIFFICULTIES GOVERNMENT ASSISTANCE (P.A.) WELLINGTON, March 5. "Stock values have been troublesome for a long time, and the Government is keen to assist every farmer to overcome the difficulties involved,” said the Minister of Finance, Mr. W. Nash, in a statement on the amendment to the Land and Income Tax Act passed last session. The amendment made provision for farmers to amend their livestock standard values as used for taxation purposes. The adoption of low standard values, said Mr. Nash, might result in a large assessment of income when livestock is disposed of or on the death of a taxpayer. The amendment to the law enabled farmers who had been using unduly low values to apply for an adjustment of values and obtain a measure of relief from tax. “This matter affects every farmer,** said Mr. Nash, “and. in order that there should be no misunderstanding <nnwhere. arrangements have been made for a full and detailed explanation to be printed in pamphlet form and distributed.”
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Bibliographic details
Gisborne Herald, Volume LXXIII, Issue 21962, 5 March 1946, Page 4
Word Count
169LOW STOCK VALUES Gisborne Herald, Volume LXXIII, Issue 21962, 5 March 1946, Page 4
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