TAXING OF SOCIETIES.
LIABILITY MORE CLEARLY' DEFINED. (By Telegraph—Special to Standard.) WELLINGTON, Dee. 22. As a result of the assessment of a leading trade union for income tax in respect of the proportion of its income derived from other than the direct contributions of its members, there was great perturbation in trade union and friendly society circles, which feared that all investment income was to be held liable for taxation. Representations have led to a closer investigation into tiro position and with a full knowledge of the legal status of the particular organisation concerned it appears doubtful if the taxing department will be in a position to maintain its assessment.
The publicity given to the matter has resulted in clearing up the position regarding friendly societies which, it is stated, are not liable for taxation on any part of their income excepting that small portion which may bo derived from trading purposes where they jointly conduct chemists’ business, in which case only that proportion of income derived from sales to persons outside their membership is taxable.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/MS19321222.2.57
Bibliographic details
Ngā taipitopito pukapuka
Manawatu Standard, Volume LIII, Issue 22, 22 December 1932, Page 6
Word count
Tapeke kupu
176TAXING OF SOCIETIES. Manawatu Standard, Volume LIII, Issue 22, 22 December 1932, Page 6
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Manawatu Standard. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in