MORE TAXATION POINTS.

Poverty Bay Herald, Volume XLVII, Issue 15318, 14 September 1920, Page 5

MORE TAXATION POINTS.

..— . ..*. — . — KEEPING FAITH ON WAR LOAN. WELLINGTON, this day. Another .question, relating .to f.ree-of-incoinc' ta? Wans was. raised by Mr E Newman, who pointed out ib the House last night that ;there_was some fear that mcome fiom war bonds woiild be counted m assessing graduated tax, As . sOme effort was being made to depress these stocks, it was important that holders of these -bonds should hot suffer any breach Q t»v h trough new legislation. Mr Massey. . replied that . he had not previously heard . about attempts to depress, stocks^ but; he wished to make it .perfectly clelir , that- he had, instructed the Tax- Department, and had also made it clear to the Finance Committee and laJw draftsman that perfect faifti must be kebt with the holders of. free-frdm«-ihcome tax' bonds. If anything more was required to be done he would be glad to do so m committee. ... r Y i >U », are -_- refer "Hg to graduation?" asked Mr Newman, and the Premier's reply was m the, affirmative. Mr Malcolm suggested .that Harbor Boards should not be regarded as tradino concerns; therefore they should not be" •subject to income tax,' especially as the trovernment enjoyed, important concession by way of exemption of Government vessels from harbor dues. ."Mr Massey replied that it was not intended to .tax Harbor Boards, ahd lie would be glad to make this perfectly clear when the Bill reached committee. — Parliamentary Reporter. - ■..'.;