PUBLIC UTILITIES.
TAX EXEMPTION REINSTATED,
[From Our Correspondent.] WELLINGTON, October 8. When tho Finance Minister 'introduced a number of amendments to the Land and Income Tax Bill on Tuesday, one poiiiLabout a revision of Clause 14 was not appreciated by those who spoke during the second reading, nor did Mr Massey mention the matter, but it appears on close examination to mean that the Government has receded from its intention to levy income tax on trading undertakiiigs owned by public bodies. To ascertain the real' meaning of the amendment it has to be read in conjunction with the Bill as well as the Finance Act, 1916. However, to put the matter beyond doubt, a representative of tho “ Star” asked Mr Massey what is the Government’s intention. He replied that local 1 bodies’ undertakings will not bo taxed. “ When I carefully looked into it,” he remarked, “ I decided that it was not worth while levying income tax on these undertakings. So long as they do not make big profits and are run solely for the benefit of the ratepayers they are better left alone.”
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Bibliographic details
Star (Christchurch), Issue 20073, 9 October 1920, Page 8
Word Count
183PUBLIC UTILITIES. Star (Christchurch), Issue 20073, 9 October 1920, Page 8
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