INSURANCE COMPANIES AND TAXATION
When the section of the Finance Act exempting life insurance companies from war taxation was mentioned in the Legislative Council to-day, the Hon. O. Samuel asked if the exemption was to apply to all profits of the companies— for example, from investments in land. Sir Francis Bell said he had mentioned" the matter to the Finance Minister, who was advised that the section was so worded that only profits from insuranec business were / exempted. Mr. Samuel said the Leader himself had expressed a .doubt on the question. Sir Francis Bell said he had thought there was something in the question, but he could say that any company which tried to evade taxation would soon find itself put in the position it should occupy by retrospective legislation in June. The Council had no' power to amend the Bill. Mr. Samuel: "But we should not make retrospective legislation necessary in the future by defective legislation at. present."
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Bibliographic details
Evening Post, Volume XCVI, Issue 138, 7 December 1918, Page 8
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159INSURANCE COMPANIES AND TAXATION Evening Post, Volume XCVI, Issue 138, 7 December 1918, Page 8
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