TERM IS A MISNOMER
COMPANY CHAIRMAN'S VIEW
"Surely the time has arrived when what is termed 'excess profits' should be dispensed with," said Mr. S. Irwin Crookes, chairman, at the annual meeting of the N.Z. Farmers' Fertiliser Company to-day. "The term is really a misnomer as the average individual interprets it as indicating undue or unfair profits."
Mr. Crookes added that the term "excess profits" was looked upon as a signpost of exploitation, whereas in fact it meant in many cases that some additional profit had been made over and above a "pegged average." This extra profit might be due to increased output above the year on which the pegged average had been calculated, and consequently led to inaccurate conclusions. .
A further item of taxation due for consideration, said Mr. Crookes, was a reduction in national security tax, which would improve the financial position of all, while it would also help industry and act as a stimulus to greater development. Taxation .bore heavily on most companies and it was felt some relief \yas now due.
Permanent link to this item
"EXCESS PROFITS", Auckland Star, Volume LXXVI, Issue 186, 8 August 1945
"EXCESS PROFITS" Auckland Star, Volume LXXVI, Issue 186, 8 August 1945
Using This Item
Fairfax Media 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 New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of Fairfax Media. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
This newspaper was digitised in partnership with Auckland Libraries.