PROBATE AND ESTATE DUTIES

Timaru Herald, Volume CLVIII, Issue 23259, 21 July 1945, Page 7

PROBATE AND ESTATE DUTIES

Effect On Reproductive Capital (N.Z.P.A.) WELLINGTON. July 19. The serious effect of probate and estate duties on reproductive capital was emphasised at the conference of the New Zealand Farmers’ Union today. it was de'-ided to represent that probate and estate duties be revised to prevent the exhaustion of reproductive capital. The conference urged the Government to review the incidence of taxation as it affected land. The present heavy taxation, it. was stated, restricted production and prevented the development of considerable areas of unimproved or partially unimproved land. Taxes should be removed which directly increased the costs of working the land or took from the occupier an undue proportion of the resources he would otherwise spend on land maintenance or development. The present method of levying taxation on farm income was unsound. It made no proper allowance for land depreciation which was taking place on most pastoral land, and was the lowered fertility and the erosion of at least several million acres. It was decided that the Dominion executive draft petition forms on hospital rating be sent to all branches for signing bv all ratepayers. Delegates spoke against the proposal to be submitted to the Counties' Conference that hospital rating be stabilised on the 1939 level, the tax being wrong iii principle and unjust. It would be admitting liability if such a proposal were adopted. The conference decided to send a deputation to the Counties’ Confer-