Hes Actually
p. 125 · Read in the full issue
Asking Them!
After the high-handed way in ihich income taxation has been Produced into the Territory of *apua-New Guinea, it comes as bit of comic relief to have 'reasurer H. H. Reeve “seeking iews of copra growers whether \ey wish to continue to con ribute to the Copra Stabilisa lon Fund” —as the official and-out on the subject puts Since early 1958, Stabilisation und contributions (of up to 1 per ton) have been collected s part of the export duty on opra — i.e., when the f.o.b. value f copra is £65 per ton, export uty is £4/16/- and Stabilisa on Fund Contribution £1 — 5/16/- in all.
When income tax comes in, vport duty goes out. So what ) do with Stabilisation Fund : mtributions? If planters have ny ideas, Mr. Reeve will sten to them. (Yes —we know ’s hard to believe, but he says iut he will).
Present total of the Fund is handsome £3/200,000 —all con futed by copra producers nee 1946. It's earning £lOO,OOO er year in interest which, at ie present rate of copra pro uction in P-NG, means £1 for very ton of copra produced. So ven if it is decided to stop con -ibutions, the Fund is in a very ice position, indeed. And so, for l ie present, are the planters.