TAXABLE INCOME

Gisborne Herald, Volume LXXIV, Issue 22317, 30 April 1947, Page 4

TAXABLE INCOME

DEDUCTION CLAIM FUNDS FOR SUBSIDIES “That the Minister of Finance be requested to amend the Land and Income Tax Act, 1923, by allowing as a deduction from taxable income any voluntary contribution made by a taxpayer towards the cost of road construction or maintenance, drainage or any other public work,” was the text of a remit submitted by the Cook County Council for preliminary consideration at the No 7 ward conference of the Counties’ Association, held in Gisborne yesterday. The chairman. Mr. E. I H. Baker, stated that the Cook County Council last season had been unable to take up road grants from its own funds, and had invited ratepayers on various roads to find the money to secure the subsidies. One of the big handicaps to this plan was that amounts contributed to metalling work on roads which could not be regarded as capital expenditure. were not exempted from taxable income. Where a special rating area was formed the contributions of land-owners could be deducted, but where no special rating area was formed no deduction was allowed. Mr. D. W. W. Williams, Waiapu County, supported the remit, and said that it was unreasonable that deductions should be allowed in the one case and not in another. The remit was adopted unanimously.