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Thursday, 12 May 1921

Senator E D MILLEN (NEW SOUTH WALES) - The answers are -

1.   Co-operative societies under the Rochdale system were subject to the war-time profits tax in respect of the year 1915-16 only. No statistics are available of the amount of tax so paid.

2.   When the amending Act was passed exempting these societies from the tax, the question of making the exemption retrospective was carefully considered, and it was decided that it should apply only to the year then current and future years. I sec no reason for now reversing this decision.

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