NEWSPAPER TAXATION
COMMISSIONER UPHELD
[PER PRESS ASSOCIATION.]
WELLINGTON, August 8
Holding that sums paid by one newspaper to another jn pursuance oi an agreement to fix the price oi newspapers was not expenditure or loss exclusively incurred in the production o f assessable income. Mr. Justice Quillram dismissed an appeal against the Commissioner of Taxes, who refused to allow a. deduction. The payments were made by the Timaru Herald Company, Ltd., the appellants?, to the Timaru Post Company, an equitable interest, in the shares of which company had been acquired by the appellant several years previously. In his judgment, his Honour said that, ho thought the result of the case should depend on whether the transaction was a real one. and in his opinion it was not. Reference to the agreement made in 1925 showed that the appellant, had complete control over the Post Company, and by virtue of the agreement could have- compelled the Post. Company to do anything which was reasonably required.
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Greymouth Evening Star, 9 August 1938, Page 2
Word Count
164NEWSPAPER TAXATION Greymouth Evening Star, 9 August 1938, Page 2
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