AUSTRALIAN FINANCES
THE CONVERSION LOAN. PRESSURE ON INVESTORS. HEAVY TAX ON NON-CONVERTERS. United Press Assn.—Elec. Tel. Copyright. (Reoeived June 4, 11.30 a.m.) MELBOURNE, June 3. With the Premiers of Tasmania and Western Australia dissenting, the Premiers’ Conference deoided that a tax of 25 per cent, be Imposed on bonds not converted into the new 4 per cent, loan. Citing the fortunes Invested In taxfree securities In New South Wales, Mr Lang demanded that the holders should not be allowed to escape a general penalty. An Important amendment in the terms of the loan, providing that the Government shall have the option of redeeming all. or part of it after 1950, was agreed to. The chairman of the Commonwealth Board, Sir R. Gibson, has been Invited to meet the conference to-day.,
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Bibliographic details
Waikato Times, Volume 109, Issue 18346, 4 June 1931, Page 7
Word Count
130AUSTRALIAN FINANCES Waikato Times, Volume 109, Issue 18346, 4 June 1931, Page 7
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