£200,000 Yet Required

Te Aroha News, Volume XXXIX, Issue 6172, 14 January 1922, Page 2

£200,000 Yet Required

From Racing in New Zealand

Under these headings the -‘ Sydney Referee ” thus rt-feif to New Zealand’s new taxation proposals : —“ In Victoria the Treasnier requires another £70,000 fr< m racing, but that is quite modest by comparison w th the demands of the New Zealand Prime Minister. He recently stated that racing will bo taxed in the Dominion to give another £20.1,000 during the coming financial year. This is to be accomplished by a" luoiea-o ui the toralisator dividend tux from 24 to 5 per cent Machine inve.-t >8 in New Zea : and ce - t-iuily have worn -thing to c>ra,lai about, seeing that clubs take 74 |per ceut., the stats 2.y per cent., dividend tax (in future) 5 per cent, and unpaid fractions 4 per ceut. A deductiou of 154 per cent, from investments is decidedly stiff and may divert a lot of money from the mauhiue to those many Now Zedaud bookmakers who still 9 mrish despite the law, and aro piepaielto give credit, which the tote does not,’’