ASPECTS OF INCOME TAX

Wanganui Chronicle, Volume 84, Issue 71, 26 March 1940, Page 3

ASPECTS OF INCOME TAX

CORRECTION OF MISTAKEN CRITICISM. The executive of the New Zealand Society of Accountants has considered the article by the Hon. Walter Nash, Minister of Finance, on the paper delivered by Mr. C. R. Richardson, A.P.A.N.Z., to members of the society at the recent convention. The society has no wish to enter a discussion on tax anomalies. The Minister stated, however, that the paper emanated from the society, and his article unfortunately imputes unfair criticism and lack of knowledge on the part of Mr. Richardson. The circumstances are that Mr. Richardson, a highly respected and capable member of this society, was asked to prepare a paper for the convention on “Some aspects of the existing income tax law in New Zealand." In his paper he dealt with the existing tax law and elaborated on the paper where necessary by explaining the amendments which would come into operation next year. Unfortunately, neither the added comment of Mr.- Richardson, nor the discussion which ensued were fully reported; otherwise it is felt that the Minister, like those who were privileged to hear the lecture, would have admired the way Mr. Richardson handled a difficult subject, and recognise that the respect in which he is held and the high reputation he enjoys as a taxation consultant are fully justified.