SOCIAL SECURITY PLAN.
EXEMPTIONS NOW IN FORCE
Persons receiving allowances from approved sick, accident or death benefit funds during incapacity from work are now exempt from the payment of social security contributions on moneys so received. This concession wae made last December by amending regulations under the Social Security Act, and has been in force since the beginning of the present month.
Funds to which the concession relates are defined in the regulations as including "any fund established for the benefit of the employees of any employer or of the members of any incorporated i society, or for the benefit of the widows and dependa.nts of any deceased employees of any employer, or of any deceased members of any incorporated society, and approved for the time beinjr by the Commissioner of Taxes." The concession applies also to payments of the same kind from the National Provident Fund. The amending regulation exempts income received by trustees for such funds, provided that it is not income derived from any business carried ion by them or on their behalf.
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https://paperspast.natlib.govt.nz/newspapers/AS19400412.2.54
Bibliographic details
Auckland Star, Volume LXXI, Issue 87, 12 April 1940, Page 5
Word Count
176SOCIAL SECURITY PLAN. Auckland Star, Volume LXXI, Issue 87, 12 April 1940, Page 5
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