INCOME TAX PAYMENT

Grey River Argus, 14 December 1943, Page 2

INCOME TAX PAYMENT

“Pay as you go” Scheme

MR. HOLLAND’S SUGGESTION.

P.A. CHRISTCHURCH, Dec. 13. An investigation into the feasibility of the adoption in New Zealand of a “pay-as-you-go” scheme of income tax was suggested by the Leader of the Opposition (Mr. S. G. Holland) " to-day, after he had spoken of the advantages of such a change in taxation collection at the Christchurch Businessmen’s Club luncheon. In New Zealand, he said, there wa? a considerable agitation for the introduction of a scheme of payment as income was earned, and great interest was also being taken .in this subject in Australia, where he discussed methods with the tax collection authorities, bankers and economists. “There are many problems associated with such a scheme, and early action is both necessary and advisable,” said Mr. Holland. “I would suggest that an expert and representative committee be set up without delay to investigate schemes operating in the United States and Canada in relation to New Zealand conditions, so that if action is to be taken to cover income tax in the coming financial year, Parliament will be fully informed at its first session.”