COMPANY TAXATION.

New Zealand Herald, Volume LXIV, Issue 19762, 8 October 1927, Page 9

COMPANY TAXATION.

CRITICISM OF SYSTEM. "INIQUITOUS FOR SMALL MAN." [3S IELSGRAPH. —OWN, CORRESPONDENT.] HAMItTOH, Pxidiky. • The system of company taxation in uperation in New Zealand was strongly criticised at the annual meeting of the Farmers' Co-operative Auctioneering Company, Limited, to-day; Mr A. W Blanchard said two com missions had considered the question and had brought down recommendations which the Government had not sees fit to adopt. The Government ;received*;bout 75 per cent, ; of its taxation through the companies, and as this was an means oi collection, the authorities appeared to be top' lazy to make the change. The speaker said it seemed to him to be iniquitous that a small man who paid the minimum tax privately should have. to pay the maximum' tax of 4s 6d in the pound through a company, particularly where that company failed to pay. interest on capital invested in it by ordinary shareholders, as was the case this yeair with the Farmer*' Auctioneering Company. The chairman, Mr. H. S. Hawkins, said frequent representations had been made to the Government far relief, bat so far without success.