“The company works for the State on 200 davs a vear,” was the startling reply a shareholder of the Farmers’ Trading Company, Limited, received when he asked at the annual meeting in Auckland recently for information concerning taxation. The answer was put in this form by the assistant general manager, Mr. W. Calder Mackay, who amplified Ins statement by adding that for each day the company’s stores were open for business, including Saturday as a whole day and omitting Sundays and holidays, the turnover had to attain £5700 to pay the Government’s taxation. . In other words, the company did not begin to make a profit for shareholders on any day till £5700 worth of goods had 'been sold.
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https://paperspast.natlib.govt.nz/newspapers/DOM19390701.2.165.20.3
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Dominion, Volume 32, Issue 234, 1 July 1939, Page 5 (Supplement)
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118Page 5 Advertisements Column 3 Dominion, Volume 32, Issue 234, 1 July 1939, Page 5 (Supplement)
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