WAR TAXATION.

Otago Witness, Issue 3250, 28 June 1916, Page 53

WAR TAXATION.

VIEWS OF CHAMBER OF COMMERCE, CHRISTCIIURCH, Juno 26. The council of the Canterbury Chamber of Commerce has agreed to the following resolutions : War Loans. —Tiiat the raisins of loans free of income tax is unsound in principle, and that the right of the State to taxation should never bo forgotten. Mortgage 'fax. — Thy council considers the present an inopportune time Lo abandon the mortgage tax previously in force. Duplication of War Tax. -That the Bin! get proposal to exempt, from taxation income received in Now Zcalaud from sources. out of Now Zealand goes too fur at die present time, but that such income should be taxed only at the rates in force for the financial year, commencing on April 1, 1914-, if the recipient satisfies the Commissioner of Taxes that such income is liabio ;.o a war income tax or like tax'in Great Britain or any British possession, or any possession of our Allies in the present war, and that such '.ax has been duly paid. War Bonus to Civil .Servants. —That the principle of taxing- one portion of the community for the purpose of paying a war bonus, to another portion is unjust and inequitable, and in any_ case only vouch to increase the cost of living. Taxing on War Profits. —That in arriving at the triennial average profits for the purposes of taxation, the increased capital of trading concerns should be taken into consideration ; that this council approves the principle of taxing actual profits, made; aa a result of the war. Subscribers to Patriotic .Funds.— That tho Government be asked to exempt contributions to patriotic and war funds from extra taxation by permitting such to bo deducted from war profits.