HIGH TAXATION.
COMPANY FEELS BURDEN. (By Telegraph.—Press Association.) WELLINGTON, Thursday. At the annual meeting: of Sharland and Company, held to-day, the chairman, Mr. A. E. Mabin, expressed disappointment at the lower net profit. He said they had a right to look for an amelioration of the heavy company taxation and graduated land tax. This totalled approximately £5000, equivalent to 80 per cent of what was returned to shareholders. The only alternatives to reduced taxation were either increased prices to the consumer or reductions in staff, neither of which was desirable, but both needed to be considered. Nevertheless, the company was in a sound financial position, and they hoped for a time when business would proceed on more normal lines. The report and balance-sheet were adopted. The final dividend of 2J per cent on both ordinary and preference shares made 5 per cent for the year.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19371112.2.149
Bibliographic details
Auckland Star, Volume LXVIII, Issue 269, 12 November 1937, Page 13
Word Count
145HIGH TAXATION. Auckland Star, Volume LXVIII, Issue 269, 12 November 1937, Page 13
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.
Log in