SCOTTISH-AUSTRALIA INVESTMENT COMPANY
LONDON, November 16.
At the annual meeting of the Scottisn Australia Investment Company, the chairman (Mr John Harley) said that the sum of £20,818 was paid in 1912 for colonial taxation, the bulk being on account of the Federal land tax. This amount equalled a dividend of • /| - per cent, on their ordinary capital. The tax was levied on all their freehold properties, whether they were reproductive or not. The present taxation exceeded anything that could be termed reasonable, but their strong remonstrances to the Government had proved unavailing. Only one course remained —viz., to sell their freehold properties, whereon the Federal land tax was levied. This, however, would take time. Meanwhile, they would find other outlets for their capital, because Australia, with all its faults of government, was a great country with a future before it.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/OW19131119.2.88
Bibliographic details
Otago Witness, Issue 3114, 19 November 1913, Page 26
Word Count
139SCOTTISH-AUSTRALIA INVESTMENT COMPANY Otago Witness, Issue 3114, 19 November 1913, Page 26
Using This Item
Allied Press Ltd is the copyright owner for the Otago Witness. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in