Taxation
Sir, —For some time it has appeared that the fortunes of the sharemarket may be closely related to the fate of the present Labour Government, if the bubble should burst at an awkward time just before the election. It was fascinating to hear a prominent Australian investment manager comment recently that companies should be assessed on net assets not earnings which can include the artificial stimulation of one-off items. He felt that the Government should have reviewed corporate taxation. An excellent watchdog group, Public Eye, reports that company taxation is down 83 per cent but individual tax is up 28 per cent, so the average taxpayer could feel there is no justice even if the I.R.D. is now looking at tax on some share profits. — Yours, etc.,
W. J. C. ROYDS. January 29, 1987.
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Press, 3 February 1987, Page 16
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135Taxation Press, 3 February 1987, Page 16
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