TAXATION METHODS

New Zealand Herald, Volume LXXIV, Issue 22857, 12 October 1937, Page 7

TAXATION METHODS

LAND AND COMPANY PROFITS SUGGESTIONS TO GOVERNMENT . Correspondence dealing with land andcompany taxation was received Jar the general committee of the Auckland Manufacturers' Association yesterday and was referred to its executive for consideration. ' The Associated Chambers of Com--merce wrote forwarding a copy of tho following resolution carried unanimously at a conference of various national associations: "That this conference asks the Government that, if it is intended to continue the graduated land tax. all lands which are in full economic, use be exempted .from the tax. and that a deduction of land tax for income tax purposes be allowed to overcome the present position, whereby income tax is paid on land tax." . The Wellington resident executive committee asked that the following resolution should be endorsed: "That the Wellington Manufacturers' Association request, the Xew Zealand Manufacturers' Federation to make immediate and strong representations to the Government to alter the incidence of the company tax to a tax upon profits distributed directly or indirectly instead of upon a company's net profits, with a view to the fostering and development of industry, and to prov« the sincerity of the Government's election promises to develoo and foster^industry in Xew Zealand."