UNEMPLOYMENT ACT
The business community is naturally interested in the incidence of the taxation. . provisions of the Unemployment Aot, 1931, and this interest i s specially centred in the ‘tax upon income other than salary and wages. To tho»e with interests in business and also in investments the following will be found helpful: In the case of persons who have varied investments and derive income from more than one class of business or investment, losses and profits from businesses and investments may he pooled and the net income after doing iso, from all investments, is the amount which is taxable.
This does not mean that losses of capital may he set against profits from other investments, but only that losses on the year’s working ,of a business or farm may be set against income during the same year from other investments.
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Hokitika Guardian, 12 November 1931, Page 8
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141UNEMPLOYMENT ACT Hokitika Guardian, 12 November 1931, Page 8
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