FARMERS AND TAXATION.
FREE MORTGAGES DESIRED.
Taxation as it affects the farmer was discussed last evening by the provincial executive of the Farmers' Union.
Mr. L. McAlpine said the position of tho farmer in respect to the renewal of mortgages that were at present held up by the moratorium was very serious. The commercial people were absorbing all the surplus mpney in the country and when mortgages on land fell due there would be no money available for renewal. Mr. F. Colbec'k said the great trouble in the matter referred to was the manner in which companies were taxed. In order to realise 6 per cent, nett on mortgage money a company had to charge 12 per cent. If the Government would-fore-go the tax on money lent on land there would be a flood of money available for tho renewal of mortirages on broad acres. He suggested that the Government should be approached with a view to getting the income tax on mortgage money remitted. It was derided to frame a remit on the subject for discussion at the next provincial conference of the union.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19220315.2.98
Bibliographic details
New Zealand Herald, Volume LIX, Issue 18040, 15 March 1922, Page 8
Word Count
185FARMERS AND TAXATION. New Zealand Herald, Volume LIX, Issue 18040, 15 March 1922, Page 8
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.
Log in