BANK PROFITS
ABSORBED BY TAXATION FRIENDLY HINT TO NEW ZEALAND j GOVERNMENT (U.P.A.— By Electric Telegraph-Oopvruihtl I (Received 31st January, 10.55 a.m.) LONDON, 30th January. Sir John Davidson, speaking at the Union Bank of Australia’s annual meeting referred to the increased British and Australian taxation for defence while the New Zealand taxation last year virtually absorbed the whole profit of the bank's operations in that Dominion. Sir John anticipated that the bank, would be paying taxation in the current year to the extent of £250,000 which | was greater than the net dividend now! being distributed. He added: “Britain I is following New Zealand’s control of exchange sympathetically, but with some anxiety. I would like, in a friendly way, to point out to the New Zealand Government that the trading banks cannot be expected to assist the Government while simultaneously being strangled.”
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Bibliographic details
Nelson Evening Mail, Volume LXXII, 31 January 1939, Page 6
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141BANK PROFITS Nelson Evening Mail, Volume LXXII, 31 January 1939, Page 6
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