Company Taxation Compared
Tlie rate of incoine tax ou companies will- be restored to that which applied up lo March, 10-12. Companies will thus pay the basic rate of company income tax plus 15 per cent., and will also pay social and national security tax at ihe reduced rate oi 2s in the [lound. The eil'ej-t of these reductions giyes a much more favourable incentive to increased production tlian existed under tlie liigher war rates of tax. This is denionstrated from the following table whicli sliows a conqiarison of the amount avaiiable after paynieut of income tax, social and national security tax.
These adjustments, it is hoped, will provide that measure of cncouragenient for workers and employers aiike to assist in the restoration of peacetime industry to tlie maximum extent possible.
under Tax last Present present Income vear residue proposals £ £ £ * £ 2,000 805 1,195 1,321 5,000 2,S47 2", 153 2,583 7,000 4,073 2,327 2,990 10,000 7,028 2,972 3,908
Residue
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https://paperspast.natlib.govt.nz/newspapers/CHRONL19460816.2.48.7
Bibliographic details
Chronicle (Levin), 16 August 1946, Page 6
Word Count
158Company Taxation Compared Chronicle (Levin), 16 August 1946, Page 6
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