PAYING INCOME TAX ON LOSSES
Bank Chairman Criticizes N.Z. System
LONDON, March 30.
At the annual meeting of the Bank of Australasia, the chairman. Mr. D. F. Anderson, referring to the New Zealand income tax, said that they expected to be called on to pay tax at a rate exceeding 20/- in the pound on profits made in New Zealand during the past year, the basis of fixation requiring the payment of income tax on loss. This was unjust, and unless it was altered they might find the income tax higher in a year in which there was a trading loss than in 1937-38. He added that it was hoped the Government would decide during the promised investigation, of the income-tax system that the present basis was scarcely just.
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https://paperspast.natlib.govt.nz/newspapers/DOM19390401.2.78
Bibliographic details
Dominion, Volume 32, Issue 160, 1 April 1939, Page 11
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129PAYING INCOME TAX ON LOSSES Dominion, Volume 32, Issue 160, 1 April 1939, Page 11
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