7038 Companies Pay £6,575,677 Income Tax
[Special to ‘'Northern Advocate ”] WELLINGTON. This Day.
With the exclusion of the additional 15 per cent, imposed by the War Expenses Act, 1939, income-tax assessed on a total of 7038 tax-paying companies in New Zealand in the year ended March 31, 1940, was £6,575,677, against £5,800,242 in 1939, and £5,377,162 in 1938. The figures for the past year show an increase of 453 or 6 per cent, in the number of taxpaying companies, in comparison with the previous year, and an increase of £943,741 or 4.8 per cent, in assessable income. The total returnable income of the 7038 companies was £22,021,696, against £20,675,758 in the previous year, and the assessable income was £20,021,696, against £19,774,260. Of the total number of companies, the .assessable income was less than £IOOO in 471 cases, representing 67.5 per cent, of the total number. The aggregate assessable income of these companies amounted to only 6.9 per cent, of the total assessable income of all companies. On the other hand, the 317 companies which had assessable incomes of £IO,OOO and over amounted to £13,862,904 of the assessable income.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NA19401226.2.25
Bibliographic details
Northern Advocate, 26 December 1940, Page 3
Word Count
1887038 Companies Pay £6,575,677 Income Tax Northern Advocate, 26 December 1940, Page 3
Using This Item
NZME is the copyright owner for the Northern Advocate. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in