TIMBER TAX.

Oamaru Mail, Volume XXXVI, Issue 11654, 8 June 1912, Page 1

TIMBER TAX.

(Per Pbess Association.) Auckland. .June 7. The decision of the Appeal Court- that tlie land and income tax must be paid on the value of standing timber has destroyed the hopes that were still entertained by sawmillers that they would be relieved of this taxation. A deputation representing the Auckland Sawmillers' Association was introduced to the Minister of Finance (the Hon- A- M. .Myers) this afternoon, and it urged that the Land and Income Tax Assessment Actshould be amended to prevent its application to standing timber. Mr S. Milroy explained that as tlis law stands sawmillers- have to pay income tax not only on their legitimate profits derived from the year's operations. but also on the timber stdl untouched. This interpretation of the law, he said, was based on the technical view that standing timber was land, and he urged that the Legislature had not contemplated such a result. Mr Valder said the Department interpreted the Act in a 'peculiar way, ior although it taxed timbrr that had been purchased as a block, .it .made no tax upon standing timber purchased at per TOO feet. " , Mr My ers said the matter would ne considered, and lie would communicate with the Association before making -any recommendation to the Cabinet. ilr D. (soldie added that last year the Prime Minister (Sir Joseph Ward) promised to introduce an amendment ot the law that was desired by the sawmillers.