“ABSOLUTE LIMIT”
IN COMPANY TAXATION STAGGERING EXAMPLE IN AUCKLAND. OVER 25 PER CENT. OF TOTAL CAPITAL. (By Telegraph-Press Association.) AUCKLAND, This Day. “While we are willing to do everything possible to help the war effort, it must be recognised that company taxation has reached the absolute limit.” said Mr A. D. Bell, chairman of directors, at the annual meeting of the Farmers' Trading Company. Mr Bell said shareholders would observe from the balance sheet that the company’s contribution in taxation was almost staggering. This year it had been called upon to find in ready cash for taxation over 25 per cent, of its total paid-up capital. The amount was £212,000. “It means that we shall be paying the Government £5 6s for every £1 we pay our shareholders, and represents an increase of £52,000 on last year.” Mr Bell observed.
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Wairarapa Times-Age, 24 June 1942, Page 4
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140“ABSOLUTE LIMIT” Wairarapa Times-Age, 24 June 1942, Page 4
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