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Tuesday, 11 April 1961


Mr WARD - I desire to ask the Prime Minister a question, ls it a fact that interest upon money raised by companies by the issue of bills, debentures, &c, prior to 15th November, I960, will continue to be an allowable deduction for taxation purposes? Also, is it a fact that David Jones Limited, due to what the Prime Minister described at the time as business acumen and foresight, was able to anticipate the introduction of import licensing a few years ago and arrange, before the restrictions became effective, for the importation of goods valued at an amount running into seven figures? Is it a fact that David Jones Limited has again anticipated a change in Government policy by announcing, just prior to 15th November, 1960, its decision to increase its capital by a sevenfigure amount by the issue of bills, debentures, &c, thus qualifying for taxation deductions of the amount of annua! interest payments involved in this new capital?







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