Taxation Swallows Profits
(Received 11 a.m.) LONDON, January 30,
Sir John Davidson, speaking at the annual meeting of the Union Bank of Australia, referred to the increased taxation for defence in Britain and Australia, while New Zealand taxation last year virtually absorbed the whole profit on the bank’s operations in that country.
He anticipated that the bank would be paying taxation for the current year to the extent of £250,000, which was greater than the net dividend now distributing.
He added: “Britain is following New Zealand’s control of exchange sympathetically, but with some anxiety, and I would like in a friendly way to point out to the New Zealand Government that trading banks cannot be expected to assist the Government while they ,are being simultaneously strangled.
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Bibliographic details
Northern Advocate, 31 January 1939, Page 10
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126Taxation Swallows Profits Northern Advocate, 31 January 1939, Page 10
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