TAX ON RACING.
BELIEF FROM LIABILITY. (I3y Wive.—Parliamentary Reporter.) Wellington, Last Night. Section 27 of the Laud and Income Tax Bill makes the following provision in regard to the payment of income tax by racing clubs: "Notwithstanding anything to the contrary in any Act, income tax shall not be deemed to be payable by any racing club prior to the year of assessment commencing on the first day of April, 1020." The term racing club is to include hunt clubs and polo clubs. This clause, which is retrospective in effect, relieves the racing clubs from a liability imposed upon them by a judgment of the Svytffiac figurt peine time. ajza.
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Taranaki Daily News, 8 September 1920, Page 5
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110TAX ON RACING. Taranaki Daily News, 8 September 1920, Page 5
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