PROVISION FOR DEPRECIATION
(New Zeatana Press Association) WELLINGTON, August 27. The directors felt it of special importance to stress the future effect upon the company’s returns of the fact that the Government had decided to discontinue the special depreciation allowance, said the chairman, Mr K. C. Campbell, at the annual meeting of William Cable Holdings, Ltd., in Wellington today. Unless the Government modified its present rates of ordinary depreciation in order to lessen the problem of erosion of capital, it would soon mean that taxpaid profits would have to be resorted to —to the extent of up to £50,000 per annum—in order to make the same annual provision as when special depreciation was fully allowed. The directors sincerely hoped, he said, that the Minister of Finance would have full regard to the problem, which faced practically all companies, when considering the recommendations of the epecial committee sitting on the problem.
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Press, Volume XCVI, Issue 28367, 28 August 1957, Page 17
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150PROVISION FOR DEPRECIATION Press, Volume XCVI, Issue 28367, 28 August 1957, Page 17
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