INCIDENCE OF TAXATION
THE UNEMPLOYMENT LEVY LOSSES AND PROFITS FROM INVESTMENTS. The business community is naturally interested in the incidence of the taxation provisions of the Unemployment Amendment Act, 1931, and this interest is specially centred in the tax upon income other than salary and wages. To those with interests in business and also in investments the following explanation will be found helpful:—
In the case of persons who have varied investments and derive income from more than one class of business or investment, losses and profits from businesses and investments may be pooled and the net income after doing so, from ail investments, is the amount which is taxable. This does not mean that losses of capital may be set against profits from other investments, but only that losses on the year’s working of a business or farm may be set against income during the same year from other investments.
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https://paperspast.natlib.govt.nz/newspapers/HBTRIB19311110.2.23
Bibliographic details
Hawke's Bay Tribune, Volume XXI, Issue 280, 10 November 1931, Page 4
Word Count
151INCIDENCE OF TAXATION Hawke's Bay Tribune, Volume XXI, Issue 280, 10 November 1931, Page 4
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