FARMERS AND ’TAXES
INCOMES SHOULD BE TAKEN ON THREE-YEAR AVERAGES. CONFERENCE APPROVES SUGGESTION. A suggestion that, in the case < farmers, annual statements of incon for taxation purposes should be base on the average income over thre years was made by Mr R. 0. Mon! gomerie (Wanganui) at the annul conference of the New Zealan Farmers’ Union at Wellington lasi. Friday. The conference approved the suggestion. Mr Montgomerie said that this method would give a much more accurate reflection of the farmer’s position than did the present one. It had worked Satisfactorily in Australia for a number of years. Mr W. W. Mulholland, president, agreed that the method suggested by Mr Montgomerie was the only just one of assessing a farmer’s income. “Many farmers this year, for instance, will be paying income tax on £lOOO at a penal rate, when they have not had an income at all for five years,’' he said.
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Bibliographic details
Te Awamutu Courier, Volume 55, Issue 3928, 19 July 1937, Page 4
Word Count
152FARMERS AND ’TAXES Te Awamutu Courier, Volume 55, Issue 3928, 19 July 1937, Page 4
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