INCOME TAX ON DONATIONS.
PREMIER REFUSES EXEMPTION. Wellington, Sept. 15. In reply to a resolution by the hospital boards conference, asking that voluntary donations to boards should be allowed as deductions from profits for the purposes of income tax, Mr. .Massey has replied that he cannot agree. The assessable’income of the country is £40,500,(100, and special exemptions already allowed whittle it down to £28,500,000. To allow more exemptions will lead to raising the tax. He does not think it wise to extend the exemption practice, for other cases, such as educational, religious and patriotic movements would have to be included. and taxable income might reach a vanishing point.
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Bibliographic details
Hawke's Bay Tribune, Volume XII, Issue 234, 15 September 1922, Page 5
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108INCOME TAX ON DONATIONS. Hawke's Bay Tribune, Volume XII, Issue 234, 15 September 1922, Page 5
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