MONEY IN AUSTRALIA
HIGHER INTEREST RETURN INDUCEMENT TO DOMINION The higher returns available on Australian gilt-edged securities as compared with those obtained from New Zealand Governrnent bonds is considered in financial circles to bffer an inducement for the investment of New Zealand funds in the Commonwealth. Insurance authorities in Auckland said that it was possible that the company, which is reported from Wellington to have transferred £1,000,000 to Australia, would receive 4j per cent, less Is in the pound Income tax. "The present market price for Australian Government bonds returns not far off 4 per cent, and New Zealand interests which have money held in Australia are likely to invest under these conditions, *’ stated one man. Another authority said he did not know what companies would be able to transfer as much as £1,000,000 from New Zealand, although it was known that several of the larger life companies had brought large sums of money to New Zealand. It would be a tremendous transaction.
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Bibliographic details
Poverty Bay Herald, Volume LXIV, Issue 19456, 15 October 1937, Page 8
Word Count
163MONEY IN AUSTRALIA Poverty Bay Herald, Volume LXIV, Issue 19456, 15 October 1937, Page 8
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