BUTTER TRADE.
SHOULD AGENTB PAY INCOME | TAX? Per Press Association. Wellington, last night. This afternoon the Full Benoh of tbe Supreme Court (Sir Robert Stout and Justices Denniston, Edwards, Cooper, and OhapmaD) sat to hear the case Commissioner of Taxes v. Lovell and Christmas. [ Defendants are an English Company, who send out to this colony agents who aro engaged by defendants to enter into contraots to sell butter in England on commission. Advances are made to dairymen by the Bank in different parts of tbe colony on letter of credit of the London firm, opera,ted upon by a member of the firm residing in New Zealand. The agepts have only a oemmission agency business on a basis similar to that of the Now Zealand Loan and Mercantile Company, who sell wool, grain, etc., on commission in England, This company sells butter on the tame basis.
Mr Bell appeared for the Commissioner, asking that the Court decree that the Company must pay Income Tax on the profit it obtains from business done in Now Zeulund. Tho defendant Company contends that it only makes an advacoein this colony on butter, which it contracts to srll on commission when it reaches London.
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Bibliographic details
Gisborne Times, Volume XXII, Issue 1722, 12 April 1906, Page 2
Word Count
199BUTTER TRADE. Gisborne Times, Volume XXII, Issue 1722, 12 April 1906, Page 2
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