TAXATION PROPOSALS

Timaru Herald, Volume CXXV, Issue 18350, 22 August 1929, Page 12

TAXATION PROPOSALS

DENUNCIATION BY FARMERS. GRADUATED INCOME TAX SUGGESTED. By —Presa Association. CHRISTCHURCH, August 21. "That this Association strongly protests against the Government’s decision to promote legislation providing for a super-tax on farm lands and a reduction in the amount of mortgage exemption, as the result will disorganisation of finance by heavy •awals of mortgage moneys inin land, which must necessarily reduced production and the >n of additional unemployment. This meeting is also of opinion that the present land tax is not equitable, and suggests that a graduated tax on all incomes, however, earned, should be substituted.” The foregoing resolution was carried unanimously at a meeting of the General Committee of the Canterbury Agricultural and Pastoral Association. Members were bitter in their denunciation of the Government’s proposals. RETRENCHMENT PROPOSED. INCOME TAX INSTEAD OF LAND TAX. By Telegraph—Prenn Association. CHRISTCHURCH. August 21. The Executive of the North Canterbury branch of the Farmers’ Union to-day carried unanimously the following resolution:— “That this Executive protests against the proposals for alterations in land tax on the following grounds:—(l) That further taxation upon the primary producer is detrimental to the best interests of the country; (2) that while super.-tax proposals may in one or two isolated cases have the effect of forcing subdivision of large estates, yet in the vast majority of cases the tax will apply to land unsuitable for further subdivision or settlement, and will mean a further severe tax on the farmer; (3) that it has been only for the last four or five years that the farming community has had the benefit of a reasonable mortgage exemption of £IO,OOO, and the reduction is going to mean that a large number of farmers will again be taxed upon what they owe, and not upon what they own. as this will apply to all medium-sized farms.” It was also resolved:—“That in the opinion of the Executive, the Government should balance its Budget by adjusting its expenditure to meet its income, and not by extra taxation.” Another, resolution carried was:— “That this Union advocates the substitution of income tax for land tax, as recommended by the Sim Taxation Commission in 1924. because the income tax is the only means of imposing a tax which is in accordance with the ability of the tax-payer to pay.” MORTGAGE REDUCTION OBJECTED TO. By Telegraph—Press Association. MASTERTON, August 21 The Wairarapa Farmers’ Union pro- ! vincial executive met to-day to discuss 1 the Government’s Budget proposals. Resolutions were passed strongly protesting against any reduction in mortgage exemption, as an unnecessary impost on small struggling farmers/ SUPER-TAX APPROVED. By Telfcgrapii— Aaiociatlon. STRATFORD, Augus 4- 21 At a meeting of the Stratford branch of the Farmers’ Union, the following resolution was carried: “That this meeting, representative of small farmers. supports the Government’s proposed land super-tax as a temporary measure.