"STAGGERING" TAXATION
Intensification of the Dominion's war effort had made increasing calls upon the woollen industry in New Zealand, "and we have' had to take our full part,1' said Mr. T. W. Lewis, chairman of the Kaiapoi Woollen Company, at the annual meeting in Christchurch. At all times relations with Government Departments had been characterised by a spirit of helpfulness. ■Referring to the satisfactory surplus in the accounts. Mr. Lewis said the amount it had been found necessary to reserve for taxation assumed a staggering figure, and, while admitting the necessity of heavy taxation in wartime, the directors could foresee difficulties and embarrassment in a continuance of such a steep rate if ar> plied for any length of time The withdrawal of such a large portion of liquid capita] from a manufacturing business such as theirs must have sen-, ous consequences on its future development and smooth operation.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19410925.2.132.1
Bibliographic details
Evening Post, Volume CXXXII, Issue 75, 25 September 1941, Page 14
Word Count
148"STAGGERING" TAXATION Evening Post, Volume CXXXII, Issue 75, 25 September 1941, Page 14
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in