THE DAIRY INDUSTRY.
EFFECT OF NEW TAX BILL. (By Wire.—Parliamentary Reporter.) Wellington, Last Night. The Land and Income Tax Bill abolishes three of the complete exemptions from income tax formerly allowed. These are:— (1) The income of a local or public authority, other than that received from trust. (2) The incomes of co-operative butter and cheese companies. (3; The income derived 'by nonresidents from debentures issued by the Government or any local authority, and payable outside New Zealand. In calculating the Incomes of butter and cheese companies for taxation purposes there is to be deducted the amount paid to suppliers for the actual supply of milk to companies.
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https://paperspast.natlib.govt.nz/newspapers/TDN19200908.2.43
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Taranaki Daily News, 8 September 1920, Page 5
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108THE DAIRY INDUSTRY. Taranaki Daily News, 8 September 1920, Page 5
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