SUPER LAND TAX.

Waikato Times, Volume 105, Issue 17786, 10 August 1929, Page 7

SUPER LAND TAX.

PROTEST FROM FARMERS (By. Telegraph.—Press Association ) CHRISTCHURCH, Friday. A report handed to the press for publication states that a meeting of representative farmers and those interested in the stock and station business was held this morning to discuss the Government’s proposals for the imposition of a super-land tax and a reduction of the mortgage exemption. After a full discussion it was agreed that lire direct result would be a general reduction in land values affecting ail farmers, a serious depreciation of mortgagees’ securities and increased taxation on a large number of farmers witli small incomes through the reduction of the mortgage exemption. It was'unanimously agreed that Hie object sought to be attained by the Government could be reached by abolishing the land tax and imposing a general income tax, however earned, and graduated as required. It was further agreed that any subdivision thought to be necessary by the Government in the interests of the Dominion could be brought about where necessary under the existing powers as laid down in the compulsory resumption clause of the Act. SEVEREST BLOW EVER RECEIVED. (By. Telegraph.—Press Association.) FEILDING, Friday. The Wellington Provincial Executive of the Farmers’ Union has adopted a resolution that the proposed supertax on the unimproved value of land should start at 1120,000 instead of £12,500. The executive has also protested against the income lax being imposed as alternative in good years. Speakers claimed that the Budget proposals were the severest blow farmers had ever received. One .speaker said farmers would retrench and thus swell the unemployed ranks. The executive also passed a resolution urging the Minister of Justice to make the penalty for sheep-steal-ing imprisonment without the option of a fine.