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The Pamphlet Collection of Sir Robert Stout: Volume 81

Very Few Making Money

Very Few Making Money

Now, let it be remembered that every person or firm, who or which in any trade, calling or business (except farming land), makes more profit per annum than £300, has to pay income taxes on the excess, and that every company has to pay on all its profits without deduction, and we find that of all the shopkeepers, traders, manufacturers, factory owners, or other business men or firms, only 4827 in New Zealand (and absentees) make over £300 a year. Those who make £300 a year or less, are in the vast majority of cases getting no more than reasonable, or less than reasonable, wages of management, and hence these can scarcely be said to be getting more than a modest wage. One hundred and seventy-four non-resident traders were also assessed.

We also find that only 884 companies out of 1583 made any profit at all. I am excluding land companies.