RACING AND TAXES.
NO INCOME TAX EXEMPTION. " EGMONT CLUB'S CASE. (By Telegraph—Own Correspondent.) • Wellington, Last' Night. That racing clubs are not esetopt from liability to pay income tax is the effect of a decision given in fhb Supreme Court to-day by Mr. Justice Chapman, when appeals for exemption made by the Jtfehburton Racing Club and the Egfnont Racing Club were dismissed. "The counsel for the appellants lifts argued," said the Judge, "that, there is an implied exemption m favor pf rating clubs by reason of the numerous taxes for which they are held liable. The arguments based on the existence of the taxation referred to do not seem to ma to show any desire on the part of the Legislature to make an exception in favor of such clubs, in view of the Very explicit terms of section 36 of the iMd and Income Tax Act." wit
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Taranaki Daily News, 19 June 1920, Page 4
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147RACING AND TAXES. Taranaki Daily News, 19 June 1920, Page 4
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