TAXATION OF COMPANIES

Colonist, Volume LVIII, Issue 14500, 4 September 1917, Page 6

TAXATION OF COMPANIES.

ALTERNATIVE SYSTEM SUG*-

GESTED.

. (United Press Association.)

Wellington, Sept. 3. 1 Tho Wellington Stock Exchange passed the "following motion:—'fThat the proposed system of taxing companies will have a far-reaching effect by causing a heavy drop in. shares and diminished dividends; that, the depreciation in the market value of shares will'in rrany cases bo very severe, thus causing shareholders, 'large and small, heavy capital losses, .as well as a diminished income; that persons ilms affected who -were disposed to borrow or invest in tho War Loan are suddenly compelled to refrain from doing so, fearing embarrassment from Sieso losses in capital and income;; and' that the Minister of Finance is 1 urgently requested to take these points into consideration and to accord relief oy taxing each shareholder. on his share and other income ordinary income-tax, and thus relieve companies from paying tax on dividends."