BANK PROFITS
PAYMENT OF INCOME TAX ON LOSSES. CHAIRMAN COMPLAINS OF ' UNJUST SYSTEM. By Telegraph—Press Association—Copyright. (Received This Day, 12.55 p.m.) LONDON, March 30. A.t the annual meeting of the Bank of Australasia, the chairman, Mr D. F. Anderson, referring to New Zealand income tax said the bank was expected to be called on to pay a tax exceeding twenty shillings in the pound on profit made in New Zealand in the past year, the basis requiring the payYnent of income tax on a loss. This was unjust and unless it was altered they might find the income tax higher in a year in which there was a trading loss than in 1937-38. He added that he hoped the Government would decide during the promised investigation of the income tax system that the present basis was scarcely just
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Wairarapa Times-Age, 31 March 1939, Page 6
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138BANK PROFITS Wairarapa Times-Age, 31 March 1939, Page 6
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