PATRIOTIC FUNDS
RACING CLUB’S PROFITS AUCKLAND TAX BURDEN (Per Press Association.) AUCKLAND, this day. Reviewing the Auckland Racing Club’s operations during the yea, the president, Mr. Oliver Nicholson, stated at the annual meeting to-day that the club had decided to devote the net profits to patriotic purposes, and no profits W'ould accrue to the club while the war lasted. The net profits available for the year amounted to £3047. The committee regretted that the heavy tax charged tended materially to reduce the amount; 'The club had spent in salaries and wages £37,072, disbursed to contractors and business firms £19,954, paid £65,500 in prize-money, and paid to the Government £115,507 in taxation on totalisator operations, and £2893 in amusement tax. It was also required to pay £26,566 for income tax and social and national security levy, and also £1566 for land tax for the year. The club had paid £238 as general rates to the city and suburban authorities.
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Bibliographic details
Gisborne Herald, Volume LXVIII, Issue 20631, 12 August 1941, Page 9
Word Count
158PATRIOTIC FUNDS Gisborne Herald, Volume LXVIII, Issue 20631, 12 August 1941, Page 9
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