COMPANY TAXATION.

Taranaki Daily News, 17 December 1930, Page 11

COMPANY TAXATION.

(To The Editor.) Sir. —'I have been very thrifty for a goodly portion of my life, and in doing 30, have denied myself many now essential luxuries that the present generation seem determined to enjoy. A good percentage of the workers place their savings in the Post Office Savings Bank on Account of its security. To my way of thinking this does not assist unemployment to any extent whatever, therefore, at intervals, I have invested nl y savings In secondary industries where thousands of my fellow workers are employed. Under present conditions I consider the present award rate too hieh. Common-sense will convince anyone, who will take the trouble to “think,’' that when income from any industry declines below production costs overhead charges must como down also, otherwise there is going to bo trouble ahead for all concerned, chiefly the workers. I myself have always arranged mv own terms without the aid or outsiders’ opinions, said teims to e consistent with the times, let it be prosperous or depressing. The consequence is I have enjoyed constant employmen for the last 40 yeiirg, and have always 'been on the most amicable terms with my several employers, and so long as did my duties faithfully I would on no account allow any pin-pricking tactics to interfere with my duties. Having arrived at the alloted span of life as regards hard work, being on the "0 years mark, I consider myself entitled to a little leisure, after a strenuous and, I hope, a life of usefulness. Under present conditions my bone of contention is “company taxation.” Most of mv savings are invested where it is most beneficial to myself and fellow nnttow country in general.

| My income from all sources is a matter of £l5O, perquisites nil, but should any of the interested industries default through, excessive overhead charges, award rates, etc., the small investor is going to be hit very hard; in fact, he may probably have to write ‘‘finis”' to a lifd’s caving. I. recently received notification for a dividend of £45, and on thia small amount I have been taxed on the high scale,. I have been so taxed for several years on halt of my incomi?, and according to Jaw I am exempt. What I want to know is why this “pernicious taxation” on the small investor? •In other words, why thx the thrifty and let the spendthrift go free? The late Sir Joseph Ward admitted that the Act in its present form was most unfair to the small investor, and promised to have the Act amended. What are our legislators going to do about such a glaring ’ piece of “misappropriation- ’ Have we no local members willing, strong and persistent enough to use their utmost endeavours to remqve this inexplicable injustice,—l am, etc., hopeful.