CONVERSION PREMIUMS
QUESTION OF TAXATION CASE STATED FOR COURT ♦ [by TELEGRAPH —PRESS ASSOCIATION] WELLINGTON, Wednesday A request by the Associated Chambers of Commerce that premiums derived from the conversion of Government stock should not be taxed in view of the fact "that the conversion was not actually a voluntary one, and that the premium was not received in cash but in effect was capitalised," was answered by. the Minister of Finance, Mr. Coates, with a statement that consideration of the request would be held over until the legal position had bean ascertained. The Minister said that the Commissioner of Taxes had informed him thero was considerable difference of opinion among even the highest authorities as to whether tho premiums represented assessable income, and that a case had been stated for the decision of the Court to be obtained.
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New Zealand Herald, Volume LXXI, Issue 21868, 2 August 1934, Page 10
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138CONVERSION PREMIUMS New Zealand Herald, Volume LXXI, Issue 21868, 2 August 1934, Page 10
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