COMPANY TAXATION
DANGEROUS HURDLE TO SOME (P.A.) Auckland, Dec. 15. The high rate of taxation which was necessary to meet our defence obligations was commented upon by the chairman of the Auckland Stock Exchange, Mr. John Frater, at the annual meeting of that body to-day. Many of the old-established companies with substantial reserves might be able to maintain a reasonable return to shareholders, but there were numerous concerns not in such a happy position, he said. He suggested that the taxation authorities should allow a profit of 4 or 5 per cent, on the capital employed before the excess profits tax was levied. Many of these industries had been of immense value in the past three years and, while he did not advocate the distribution of high dividends, these companies should, in all fairness, be permitted to rehabilitate their finances and put their affairs in order to meet post-war problems. At present they had no chance of getting their heads above, water.
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https://paperspast.natlib.govt.nz/newspapers/WC19421216.2.26
Bibliographic details
Wanganui Chronicle, Volume 86, Issue 296, 16 December 1942, Page 4
Word Count
162COMPANY TAXATION Wanganui Chronicle, Volume 86, Issue 296, 16 December 1942, Page 4
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