Cooperofrives Reply To Criticism (P.A.) DUNEDIN, This Day.

Northern Advocate, 17 March 1947, Page 5

Cooperofrives Reply To Criticism (P.A.) DUNEDIN, This Day.

The organising secretary of the New Zealand Federation of Cooperatives (Mr John H. Churton) has issued the following statement in artewer to the Associated Chambers of Commerce criticism: ‘ 1 "It is high time that righteous indignation . expressed by the Associated Chambers at the encouragement, of what they term ‘tax free concerns’ was debunked. “The allegation that consumers’ cooperatives enjoy special taxation is a myth. “In private business profits are retained by owners and are therefore taxable. . “Cooperative societies, on the other hand, make no profit. The surplus accruing from members’ trading at current market prices is an overcharge that is redistributed to those members in the form of a six-monthly rebate. “This is legally recognised under the Industrial and Provident Societies’ Act under which the cooperatives are registered and income tax exemption has applied for many years, not only in New Zealand, but universally'. . “WIDE PUBLIC SUPPORT” “Prior to now, the Chambers of Commerce have never objected. The cooperative movement has only during the past two years gained wide public support and it is now evident that it is here to stay. “The vigorous progress of consumer cooperatives represents to private interests a corresponding decrease of j their own profits. “They have falsely accused the cooperatives of receiving privileged allocations of scarce commodities, whereas it would be more truthful to say that owing to the starvation tactics of some wholesalers on which the cooperatives have to depend for sup- ! plies, a disproportionately large share lof short lines is being diverted into 1 multiple store channels.

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