COMMERCIAL

Gisborne Herald, Volume LXVIII, Issue 20635, 10 December 1941, Page 8

COMMERCIAL

BANK OF NEW ZEALAND NO TAX ON JUNE DIVIDEND Shareholders of the Bank of New Zealand received a welcome surprise with receipt of their warrants for the bank’s interim dividend which became payable on Saturday. In addition to notification that the current dividend is exempt from national and social security taxes came advice that the final dividend paid in June last was also free of these taxes in the shareholders’ hands. This is in accordance with the legislation affecting taxation of the profits of banks passed during the year. One of these amendments stated, in effect, that ~ dividends declared' after March 31, 1941, by hanks resident in New Zealand are not taxable for national or social security charges. AUSTRALIAN MARKETS (Elec. Tel. Copyright—United Press Assn.) SYDNEY, Dec. 8. The sharemarket slumped completely to-day ns a result of the 'Japanese declaration of war and the bombardment of the American Pacific strongholds. Business was negligible. Sales included: —Tooheys, 26s 9d ; A.C.1., 40s; British Tobacco, 41s; Broken Hill Pty., 365; Dunlop Rubber. 22s 9d ; Morts Dock, 19s 6d; Farmers, 25s 6d. Melbourne business included: —Metropolitan Gas, £l3 6s; Claude Neon. 23s 6d; G. J. Coles, 565; Hume Pipe, 15s; Loloma, 18s; Emperor, Bs.