CONVERSION PREMIUMS
NOT LIABLE FOR INCOME TAX
The ' Minister of Finance (the ,JU. Hon.. J. G. Coates) announced today that it has now been decided that tho premiums credited on tho conversion of QovernmeDfc stock represent an accrotjon of capital and are not assessable for income tax or unemployment tax uxefept in the cases of taxpayers whose business or part of whose business was to ,deal in securities.
. "A largo number of investors and taxp.iyers.is affected, by.this decision, which will, I know, meet with general approval," said Mr. Coatcs.
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Bibliographic details
Evening Post, Volume CXVIII, Issue 36, 11 August 1934, Page 10
Word Count
89CONVERSION PREMIUMS Evening Post, Volume CXVIII, Issue 36, 11 August 1934, Page 10
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