RACING CLUBS' INCOME
* TAXING DEMANDS, . The. right of the Government to col*' loot income tares from racing clubs was' penned by the law in a judgment of tho. Court of New Zealand thie year, 'J.'iw Government had not taken advanti age of such rights as it had possessedin the intervening years, and the pro-' posal as it presented itself to the Department for the current year was that racing clubs should have to pay arrears of" income tax for from three to five years past, This would have meant for many of the olubs bankruptcy. Thej havo mado tho profits, but they hava distributed them either in contributions to patriotic funds, or in the construction of improvements. A deputation from the racing clubs. recently waited on tha Prime Minister asking for relief from tha' rotrospeotivo demand of tho Department, Mr. Massey replied that he could maw no promis* of rolief from the added tat. ation on totalisator receipts and on income, but lie did realise that thaclaim lor -the retrospective application' of the' tax could not be sustained. He promised that the point raised by tha judgment of the Supreme Court would receive consideration when the readjustment of taxation was being considered.
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Dominion, Volume 13, Issue 283, 24 August 1920, Page 4
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202RACING CLUBS' INCOME Dominion, Volume 13, Issue 283, 24 August 1920, Page 4
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