HEAVY TAXATION BURDEN
STRAIN ON GOLD MINING INDUSTRY MORE THAN PROFITS [United Press Association] DUNEDIN, 23rd October. "The goose that lays these very golden eggs is being steadily and increasingly bled to the point of exhaustion,” said Mr J. R. Fairbairn, chairman of directors of the Waitahu Gold Mining Company, Ltd., at the annual meeting of shareholders to-night, when referring to the taxation levied on gold-producing companies. During the year ended last July, he said, the company’s gold export tax had amounted to £1142 3s 5d and income tax on the dividend of 2d a share was £ll6 19s 9d. Shareholders had received £1333 6s Bd, on which they individually had to pay Is 9d in the £1 for social and national security tax, a total of £l3O Is 3d and the tax on directors’ fees was £9. This meant that, in all, £1514 17s 9d
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Bibliographic details
Nelson Evening Mail, Volume LXXIII, 24 October 1940, Page 4
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146HEAVY TAXATION BURDEN Nelson Evening Mail, Volume LXXIII, 24 October 1940, Page 4
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