THE BUDGET
Sir, —An income tax official has stated (in your issue of September 2) that the £3OO exemption affecting persons over 65 would first apply for the income year ending March 31. 1951. I confidently expected that the concession would apply to the 1960 assessment, and to settle the point procured copies of the amending legislation. Unfortunately, Mr Holland’s statement in the Budget still remains “a proposal.” He says: “Another adjustment is a proposal to increase from £2OO to £3OO the personal exemption for persons over 65 years.” To my amazement and disgust the legislation of last week, embodying concessions to others, contains no reference whatsoever to the proposed concession, which must now await the drafting of the 1951 taxing bill a year hence. The required amendment cannot possibly be dealt with this, session. Meanwhile, the tax official’s statement is without legislative endorsement.—Yours, etc.. DIDDLED AGAIN. September 7, 1950.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19500908.2.34.4
Bibliographic details
Press, Volume LXXXVI, Issue 26212, 8 September 1950, Page 5
Word Count
150THE BUDGET Press, Volume LXXXVI, Issue 26212, 8 September 1950, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in