RACING CLUBS
THE PAYMENT OF INCOME TAX A DIFFICULT POSITION Much anxiety is being caused among officials of racing clubs by the discovery that the clubs, under it decision of tli'o Supreme Court, are liable to pay incometax, although they have not ken paying it in the past. Tho liability, it appears, has existed for some time, and if demands are pressed by the Department for back payments the financial position of many of the clubs will 'be very difficult. It is slated that some of the clubs would have to go out of existence altogether.
representatives of the clubs have been, in Wellington consulting th& Department. The legal liability is regarded ag serious, but it is not unlikely that in the special circumstances legislSfioTT dealing wilh the matter will be brought before Parliament during the. present session.
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Bibliographic details
Dominion, Volume 13, Issue 271, 10 August 1920, Page 6
Word Count
138RACING CLUBS Dominion, Volume 13, Issue 271, 10 August 1920, Page 6
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