N.Z. INCOME TAX
PAYMENT ON LOSSES
BANK CHAIRMAN'S CRITICISM
"SCARCELY JUST"
(By Telegraph—Press Association—Copyright.!
(Received March 31, 1 p.m.) 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 20s in the £ 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 1937-33.
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/EP19390331.2.64
Bibliographic details
Evening Post, Volume CXXVII, Issue 76, 31 March 1939, Page 9
Word Count
138N.Z. INCOME TAX Evening Post, Volume CXXVII, Issue 76, 31 March 1939, Page 9
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