TAX ASSESSMENT.
investment incomes.
UNIONS AND SOCIETIES.
hffect of new decision.
(By Telegraph.—Special to " Star.") WELLINGTON, this day. As the result of the assessment of a leading trade union for income tax in resppct of that proportion of its income derived from other sources than the direct contribution of its members, there was great perturbation in trade union and friendly society circles, which feared that all investment income was to be held liable for taxation.
Representations have led to a closer investigation into the position, and with fuller knowledge of the legal status of the particular organisation concerned, it appears doubtful if the Taxing Department will be in a position to maintain its assessment now that it L& in possession of the full facts.
The publicity given to the matter has resulted in clearing up the position regarding friendly societies, which, it is stated, are not liable for taxation on any part of their income excepting that small portion which may be derived from trading purposes where they jointly conduet a chemist's business, in which case only that portion of their income derived from sales to persons outside their membership is taxable.
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https://paperspast.natlib.govt.nz/newspapers/AS19321222.2.177
Bibliographic details
Auckland Star, Volume LXIII, Issue 303, 22 December 1932, Page 19
Word Count
192TAX ASSESSMENT. Auckland Star, Volume LXIII, Issue 303, 22 December 1932, Page 19
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