Farmers' Finances.
DECLARATIONS OF INCOME. The issue of form U.B. 58, requiring detailed information from farmers regarding their stock and produce, was defended by the Minister for Employment, Mr. A. Hamilton, in the House of Representatives last week in reply to a question asked by Mr. H. M. Rushworth (Independent, Bay of Islands). Mr. Hamilton said it was recognised that farmers generally did not keep proper books of account, and form U.B. 58 was designed to assist them in arriving at the net financial result of their operations in any year. Since a very large percentage of farmers were not required to furnish income tax returns, it was impossible to check their incomes except by this method. "In many instances it is found that, without any intention of evading taxation, farmers furnish incorrect declarations of income when form U.B. 58 is not used," addec" the Minister. "An illustration of this is that out of five such statements recently returned in one day by farmers who had originally declared their income as nil, the unemployment fund was augmented to the extent of approximately £100."
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https://paperspast.natlib.govt.nz/newspapers/THS19331114.2.27
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Thames Star, Volume LXIV, Issue 18957, 14 November 1933, Page 4
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183Farmers' Finances. Thames Star, Volume LXIV, Issue 18957, 14 November 1933, Page 4
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