Retention Tax
Sir.—Retention tax works to the disadvantage of thousands of large and small company shareholders in New Zealand enterprises. After full income and social security tax have been paid this money that has been earned for expansion and contingencies is really capital. This tax. therefore, is a capital tax on a large (principally) urban section. A capital tax. or confiscation. is one of the first principles of communism. This is one step. How many more would some people take if given the opportunity.—Yours, etc., SMALL SHAREHOLDER. December 7. 1960.
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Bibliographic details
Press, Volume XCIX, Issue 29384, 10 December 1960, Page 3
Word Count
90Retention Tax Press, Volume XCIX, Issue 29384, 10 December 1960, Page 3
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