OBJECTION TO LAND TAX

Taranaki Daily News, 16 August 1929, Page 15

OBJECTION TO LAND TAX

SUGGESTIONS TO THE PREMIER. By Telcgrapli—Press Association. Dunedin, Aug. 15. The Otago and Southland Sheepowners’ Union has dispatched the following resolution to the Premier; “If additional revenue is necessary we are of opinion that it should be raised by altering the incidence of the income tax by substituting farmers’ income tax in lieu of land tax,, or even increasing the all-round income tax rates. The proposals now made will cause unemployment, as all except absolutely necessary expenditure will be avoided. Money will be withdrawn from rural investments, production reduced, and many landholders whose properties are unsuitable for subdivision will be ruined. The inevitable all-round reduction in land values will seriously affect even small farmers in disturbing their land mortgages through the mortgagees tightening the limits, and to a certain extent making farmers’ temporary finance more difficult. The few old-established and wealthy landowners will be the last to suffer from the proposed super tax. It is the best class of settlers, energetic young men who have not been afraid to assume large responsibilities, who will suffer most.”