REDUCTION OF TAXATION

New Zealand Herald, Volume LXI, Issue 18629, 9 February 1924, Page 8

REDUCTION OF TAXATION

FURTHER RELIEF : POttfftfc&v § —- *; JH PRIME MINISTER'S ; p'B|i@s LIFTING. ENTERTAINMENTS,ijvfc " § vlhe prospect of further reductions,' (|f : -If taxation were mentioned by" i the Prifta B Minister in. his Speech in: Wellington on f Wednesday evening. "We pay lew U«u » tion than any other country :in tJr« " B British Empire," he said. '" I hope £» H make- further reductions." ;':.'At a*UUf '* Sjj' stsgfr Mr. Massey said, he hoped to . i the opportunity of abolishing the amai. M ments tax altogether. " '■''•- : " ;^^S^B« Referring to the remissions th»it hay« H already been made. The Prime Mjnat w Wt remarked that there is a little '■ jealoosv '•" 1 » between the town and the country." - S oity man says we have done too.- n^ '■"'""••■[ for the farmer, and the countrymj siSslSfS-J we have done too much for the city£wS|M the remission of taxation. The remission If is mostly enjoyed by the people residing m in the large centries of populatio&~§|p|a fact, they have got two-thirds of tit* I benefit." _ " I He set forth the following estimate* I of the remissions of taxation already H made, the total : being || Abolition of super tax on land, £136,000« H abolition of tax en income from ' iatsf 1 £200,000; substitution of 5 per cent, pn B the capital value for 5 per rent. onmiini. *1 proved value with depreciation of:-.-ja!J§j§i§l mises, £100,000; remission of rates ijf 1 : H income tax, £740.000; reduction of amusi. V ■ ment tax, £25,000; tea duty remission, m £112,590; pennv postage, estimated 'an- § nually at £250,000. : 1 '■'-■ "I believe the cities benefited: to th» J extent of a million sterling," Mr. • Massey I added. "Who gets the greater benefit I from .penny postage? I don't like : to see 'M mischief people going aroimi say "3 ing that we robbed the people of tft» i cities to encourage the farmers. We hart '"-■ to encourage the producer, and do-on* : 'M best by him." sSffl