CANADIAN BONDS
IMPOSITION OF INTEREST TAX THE POSITION MADE CLEAR. '' OTTAWA, March 31. The 6 per cent, tax on interest payable on Canadian bonds by non-residents of Canada as proposed in the Budget does not apply to any bond, public or private, on which interest is payable in currency other than Canadian, stated Mr E. N. Rhodes, Minister of Finance, in the House of Commons to clear up misunderstandings that had arisen over the operation of this tax, which had resulted in dealings in Canadian bonds and certain securities being suspended on the London Stock Exchange. Mr Rhodes said that exemption was granted because while there was no doubt of the power of Parliament to impose such a tax as was done in the case of other countries, nevertheless misunderstanding might arise in the mind of the non-resident investor who purchased Dominion securities in his own country and payable in his own currency.
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Otago Daily Times, Issue 21920, 4 April 1933, Page 7
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153CANADIAN BONDS Otago Daily Times, Issue 21920, 4 April 1933, Page 7
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