UNIVERSAL INCOME-TAX

Sun (Auckland), Volume III, Issue 739, 12 August 1929, Page 10

UNIVERSAL INCOME-TAX

FARMERS PAY ON LOSSES AND MORTGAGES HAWKE’S BAY PROTEST Press Association NAPIER, Today, The Hawke’s Bay County Council today urged the imposition of a universal income-tax in preference to graduated land tax. It is contended that it is unfair to make the farmer showing a loss pay a tax on land covered by a mortgage. Tho Hawke’s Bay executive of the Farmers’ Union discussed the Government land taxation proposals and passed the following resolution unanimously:— “That tho Government proposals are unsound economically and not on an equitable basis in that they hinder the progress of the Dominion by retarding production, and they discourage those who are spending much capital in breaking in unproductive land, thereby causing more unemployment, retarding exports and curtailing the circulation of much needed ready money. Any fresh taxation on the farmer in view of the large drop in values for wool, mutton and lamb would bo disastrous.” LESS MEN ON LAND Press Association ASHBURTON, Friday. After considerable discussion in which the Budget proposals were roundly condemned, the Mid-Canter-bury Executive of the Farmers’ Union passed a resolution protesting against the proposals of the Government in regard to the increase of taxation on land as in the opinion of the executive such proposals would have the effect of decreasing rather than increasing the number of men on the land. There was no doubt, the executive considered, the lowering of mortgage exemptions would seriously affect a large number of farmers who were only just recovering from the effects of a slump and the executive suggested that from an < $ >nomic viewpoint retrenchment in expenditure would be of greater service to the country than an increase in taxation.