DEATH, GIFT DUTIES
Comment By Mr Lake (N.Z. Press Association) WELLINGTON. Feb. 10. “All I can say is that the National Party has said that it will review rates of death duties and that the matter is having attention at the present time in the general review that is taking place." said the Minister of Finance <Mr Lake) tonight, when asked to comment on the article which •compared New Zealand death and gift duties unfavourably with provisions of the relevant United Kingdom legislation. “It would be true to say that many people who supported the National Party would agree with what has been said in the article,” added the Minister.
The National Party’s policy at the recent General Elections said: “Death duties will be reduced. Gift duties will be revised. Legislation will be introduced to provide exemptions from death duties for life-insurance policies up to a maximum amount to be fixed —such policies to be special ones without income-tax allowance for premiums. For ’uninsurable’ persons an alternative provision will be made —possibly through the National Provident Fund.”
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Bibliographic details
Press, Volume C, Issue 29436, 11 February 1961, Page 12
Word Count
177DEATH, GIFT DUTIES Press, Volume C, Issue 29436, 11 February 1961, Page 12
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