TAXES COMPARED
RATES IN NEW ZEALAND AND AUSTRALIA.' TREATMENT OF COMPANY DIVIDENDS. “Proofs that rates of taxation in New Zealand compare unfavourably with those in Australia become more numerous the further investigations are carried,” says Associated Chambers of Commerce of New Zealand in a statement issued yesterday, “Tables have already been given showing /the heavier tax rates in New Zealand, as compared with the different States of Australia, on companies and on the earned incomes of individuals,” the statement continues. “Below are given comparative tables showing the amounts of income and wages taxes payable in 1937-38 in New Zealand and Australia on the wholly unearned 'income of a taxpayer with a dependent wife. Commonwealth tax has been added in each case.
“The fact that in certain cases the above rates apply to shareholders’ dividends from companies, while in other cases they do not, raises the subject of the penal rates of taxation on company operations in New Zealand. These rates rise to a maximum of 7s 6d in the £. Dividends from companies are not taxable in the hands of recipients in New Zealand, but this is poor compensation for the fact that the shareholder does not receive his dividend until it has been reduced by the amount of taxation which the company has been compelled to pay —as already stated, up to 7s 6d in the £.”
Assessable Income New S. Wales £ s d Victoria £ s d New Zealand £ s d 150 0 13 4 1 4 8 6 0 0 200 3 5 10 1 12 11 7 13 4 250 5 14 2 3 ' 6 6 9 6 8 300 8 1 8 6 13 6 15 10 8 350 13 10 2 11 3 4 23 2 4 400 18 19 0 16 1 11 30 19 6 450 24 18 11 21 11 1 39 2 4 500 31 10 10 Queensland £ s d 27 9 0 South Australia £ s d 47 10 8 New Zealand £ s d 150 3 2 6 2 0 4 6 0 0 200 4 3 4 7, 1 2 7 13 4 250 9 14 11 12 3 10 9 6 8 300 14 0 0 17 4 8 15 10 8 350 19 15 5 23 8 5 23 2 4 400 26 7 2 30 0 7 30 19 6 450 35 1 11 36 19 5 39 2 4 500 49 17 8 Western Australia £ s d 44 8 6 Tasmania £ s d 47 10 8 New Zealand £ s d 150 0 18 9 2 10 0 6 0 0 200 1 5 0 3 6 8 7 13 4 250 6 18 1 6 1 9 9 6 8 300 11 10 6 8 8 5 15 10 8 350 16 7 4 12 4 6 23 2 4 400 20 9 11 16 15 2 30 19 6 450 27 0 10 21 19 6 39 2 4 500 34 10 10 27 17 5 47 10 8
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Wairarapa Times-Age, 23 August 1938, Page 5
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502TAXES COMPARED Wairarapa Times-Age, 23 August 1938, Page 5
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