YIELD FROM SALES TAX

Taranaki Daily News, 12 September 1934, Page 2

YIELD FROM SALES TAX

HIGHER RETURN FOR JULY TRADE CONDITIONS IMPROVE. Sales tax collected in the Dominion during July amounted to £168,662, the highest figure for any month except January, when £187,649 was collected. The yield was £7785 higher than in June and £38,711 above the figure for July, 1933. The latest Abstract of Statistics comments that the increase of £7785 over the June total compares with a decrease of £6782 between June and July, 1933. It appeared that this was due To improving trade conditions counteracting ah expected seasonal decrease. Imports, most of which were subject' to the tax, had shown a buoyant tendency in 1934, compared with 1933. Reference is made to the increase in imports during July, which is claimed to be the outstanding feature of trade statistics for the month. Imports during July were valued at £2,294,000 in sterling, or £2,867,000 in New Zealand currency. This value was the highest recorded since February, 1931, and was 65 per cent higher than in June. It was evident that business activity as a whole had not slackened to the nor* mal seasonal extent between June and July. Normal seasonal influences were apparently being offset to a large extent by an upward cyclical movement in busi- . ness conditions, '