FARMERS' INCOME TAX
ABOLISHING EXEMPTION.
CRITICISM OF THE PROPOSAL. An estimate that between 25,000 and 30,000 farmers would be affected by the proposal to abolish the exemption from income tax on farms with an unimproved value of less than £3OOO was made by the Leader of the Opposition, the Hon. Adam Hamilton, in the House of Represenatives. All farmers now would pay double tax, he said, and it would be particularly serious for many small farmers, particularly dairy farmers! f'Land tax should be abolished," said Mr. Hamilton. "This party is not against income tax as a tax, but the cost of collecting the levy from the small farmers will be enormous. It will probably need another social security building to house the extra staff. The benefit to the State funds is very doubtful because an income of £365, where there are two children, will produce only £1 10s 2d, and many farms do not show a profit as great as that. The cost of collection will be huge and the trouble to the farmenormous."
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Bibliographic details
King Country Chronicle, Volume XXXIII, Issue 4819, 4 August 1939, Page 5
Word Count
174FARMERS' INCOME TAX King Country Chronicle, Volume XXXIII, Issue 4819, 4 August 1939, Page 5
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