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Gifts Made To Universities (Parliamentary Reporter) WELLINGTON. Oct. 24 Gifts for public educational purposes, whether made to a university or other ins’itu- ♦ n. enjoy comolete exeinpt.m from gift duty and are n >t subject to e«‘ffie dutv if they are completed during th“ lifetime of the donor. Giving this reply to Mr W H Brown (Govt.. Palmerston North) in Parliament todav. the Minirter of Finance (Mr lake) added that the exempt n. which apnlied also to c her charitable gifts, was enacted by the Legislature for the very purpose of enc urag’ng persons and business concerns to make such d -atiens. Mr Lake said the statement afributed to the vice-chan-cellor of the University of Canterbury that New Zealand universities were labouring under a disadvantage because of the retention of gift duty on donations to universities was definitely not in accord with the position as it existed n w. and had existed in New Zealand for many years.
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Bibliographic details
Press, Volume CII, Issue 30271, 25 October 1963, Page 15
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160FREE FROM DUTY Press, Volume CII, Issue 30271, 25 October 1963, Page 15
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