BRITISH SPECULATORS

Grey River Argus, 25 August 1934, Page 5

BRITISH SPECULATORS

On Wall Street ASKED TO PAY INCOME TAX. ' Aus nTlf ] N.Z. Cable A«sn.) (Received August 24 at 7 pm.) LONDON. August 24 Tho “Daily Telegraph’s’ ’i'lnanMal < o’respondent, savs; The Anierieeu Treasury has made a demand for returns of thp profits made bv British invf'stors on Wall C/'oet for jn-omo fax purposes. This cmoo ;.s a shock. The subj'-’i’i i- i ov, lining corsidered bv tho Bankers’ .A csoeiation, and -ho committee of th ( . T .oiulon Stock Exchange. Tn Britain suMi profits are only taxed when ‘ho 11 a a sac‘io ns are part of i ' rmal business. Conversely, sto-k exchange losses are not allowed for taxation remission. Tn America capita] profits an* subject 1 taxation Tn recent years the Britishers’ capital profits on Wall Street have been than offset- by their though many took largo profits hpf-re ike 1929 crash The. <■ woa’d b<* covered ir the American Treasnr vN- ckiim. which covers 1929-33.