RACING AND TAXES.
INCOME-TAX LIABILITY. (By Wire.—Parliamentary Reporter.) Wellington, Last Night. Much anxiety is being caused among officials of racing clubs by the discovery that the clubs are liable to pay income tax. Although they have been paying it, the liability, it appears, has existed for some time, and if demands are presented by the department for back payment the financial position of many of the clubs will he very difficult. It is stated that some of the club 3 would have to go out of existence altogether. Representatives of the clubs lmvo been in Wellington consulting the department. The legal liability is regarded as serious, but it is not unlikely that, in the special circumstances, legislation dealing with the matter will be brought before Parliament during the present session.
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Taranaki Daily News, 10 August 1920, Page 5
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130RACING AND TAXES. Taranaki Daily News, 10 August 1920, Page 5
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