BUSINESS BURDENS
TAX EXCEEDS CAPITAL
New Zealand Breweries, Ltd., with an issued capital of £1,635,379, paid more than that amount this year in taxation. The fact was disclosed by Mr. D. W. Madden,' chairman of "the company, at the annual meeting of shareholders. He said that so far from the shares of the company being held by a few. the number of the company's shareholders was about 4000 in all, with an average holding of 400 shares each, and 99 per cent, of these shareholders were New Zealand residents. During the year, said Mr. Mad-de-h, excise and other taxes collected by the company, and taxes levied on the company's profits, amounted to £1^690,400, or slightly more than the capital of the company. Consequent upon the increase made in income tax rates, the company found it necessary again to draw on. taxation reserve account —on this occasion to the extent of £ 10,000—towards meeting the amount short. Investments and advances at £672,864 had increased by £163,387; but this amount was less than the amount of subscription to the war loan. \
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https://paperspast.natlib.govt.nz/newspapers/EP19410619.2.114
Bibliographic details
Evening Post, Volume CXXXI, Issue 143, 19 June 1941, Page 11
Word Count
178BUSINESS BURDENS Evening Post, Volume CXXXI, Issue 143, 19 June 1941, Page 11
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