INSURANCE TAX.
OPPOSED BY OTAGO BUSINESS MEN. ■ Telegraph—Press Association DUNEDIN. April 10. The proposal in the Hawke’s Bay Earthquake Bill to impose a tax of 1/0 per cent, on insurable property, in order to raise money to replace the 1--millions taken from the reserve fund in London, is not meeting with much favour in Dunedin, with the business and farming community. The chief criticism is being directed against the illogical position which it is alleged would arise under the Bill, seeing that a man whose wealth is represented by investments in debentures, bonds, etc., would escape altogether. Mr A. C. Cameron, president of the Chamber of Commerce, said the tax was unjust and inequitable, and would tend further to embarrass the man who had invested in business or farm- 1 ing. The ideal method of taxation was \ a tax upon the income of the individ- 1 ual, plus customs and excise duties on ; luxuries.
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Bibliographic details
Timaru Herald, Volume CXXXIV, Issue 18849, 11 April 1931, Page 4
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154INSURANCE TAX. Timaru Herald, Volume CXXXIV, Issue 18849, 11 April 1931, Page 4
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