INTEREST ON NOTES
Deductibility Urged
(New Zealand Press Association) AUCKLAND, December 15. The non-deductibility of interest on convertible notes for company tax purposes should be a matter for early investigation for the new Government, the chairman of the Auckland Stock Exchange, Mr Warren J. Sandman, said at the exchange’s annual meeting.
He said notes were a useful and desirable type of finance, particularly in the establishment of a new industry which might be non-profit-earning in its early years. The whole idea was that notes could be converted into shares when new plant became profit-earning.
Mr Sandman also urged the Government to investigate the continued jffect of high company tax in conjunction with dividend tax.
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Bibliographic details
Press, Volume XCIX, Issue 29389, 16 December 1960, Page 21
Word Count
114INTEREST ON NOTES Press, Volume XCIX, Issue 29389, 16 December 1960, Page 21
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