Dividend tax protests
(N.Z. Press Association) . WELLINGTON, March 21. Protests against the dividend tax of 50c in $1 were voiced at the annual general meeting today of the New Zealand Institute of Directors.
Members decided that the institute chairman (Sir Clifford Plimmer), should pass on their disapproval of the tax to the Minister of Finance (Mr Muldoon). ’ The tax was described as “theft” by one director. “I’m surprised it hasn’t brought more protest from directors. It kills incentive,” he said.
Another director said that the tax not only had an adverse effect on big companies, but also had an impact on the small private company.
He said that the directors’ protest would makp little difference it might ind n that not c s he did.
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Bibliographic details
Press, Volume CXI, Issue 32561, 22 March 1971, Page 5
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125Dividend tax protests Press, Volume CXI, Issue 32561, 22 March 1971, Page 5
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