MONEY FOR TAX
No Overdrafts Available
(N.Z. Press Association) WELLINGTON, Feb. 14. A reminder that taxation should be paid within ordinary banking arrangements was given today by the chairman of the Bankers’ Association (Mr C. H. Rennie). He emphasised that although from January 1, 1963, the Reserve Bank had passed to the trading banks the day-to-day administration of selective advance control, the categories of advances subject to restriction remained unchanged. "Advances for taxation therefore remain within the restricted class,” said Mr Rennie, “and excess limits can only be allowed in very exceptional circumstances.”
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Bibliographic details
Press, Volume CII, Issue 30057, 15 February 1963, Page 10
Word Count
93MONEY FOR TAX Press, Volume CII, Issue 30057, 15 February 1963, Page 10
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