NOTHING CONTENTIOUS

Ashburton Guardian, Volume 68, Issue 28, 13 November 1947, Page 5

NOTHING CONTENTIOUS

Finance Bill Presented (P.A.) WELLINGTON, This Day. There is nothing realty contentious in the Bill, said the Minister of Tinnnce (the Hi. Hon.' W. Nash), explaining the contents of the Finance Bill of 40 clauses, introduced iitythe House of Representatives last night' on the stroke of midnight. Mr Nash, said the. Public Trustee* isempowered to purchase houses for staff where necessary.- -One clause provides that,recent salary increases to members of the Public Service shall not be taken into account in fixing payments to retained or _ re-engaged superannuitants. Power is given to exempt certain allowances from income tax and Social Security charge. The Minister said that the time m which the Commissioner of Taxes may recover unpaid taxes is extended from four to 10 years. Exemption from death duties is increased, from £-00 to £SOO. Certain exemptions from death duty are given, mainly m connection with the Aid-for-Bntam campaign. . , ~ ) Allowances by companies to widows of deceased employees will also be exempt, from gift duties. Expenditure on Viscount Montgomery’s, visit to New Zealand is validated. An increase is made in permissible’ unauthorised expenditure by harbour and hospital boards, and provision is made tor certain superannuation payments by boards to be continued. The Bill was read a first time and will be debated in the House to-night.