DETAILS GIVEN
Deductions For Gifts
(N.Z. Press Ai
WELLINGTON. May 30. The Minister of Finance (Mr Muldoon) today announced further details of the tax deduction allowable to companies for cash donations for general research. Mr Muldoon said legislation passed last year allowed companies a deduction for donations made to the Medical Research Council or to any research body approved by the Minister on the recommendation of the Medical Research Council or the National Advisory Council. The deduction was subject to a maximum of £5OO or 5 per cent of the company’s assessable income. Mr Muldoon said he had approved three further bodies recommended to him by the Medical Research Council. Cash donations made since the Budget date last year for the general research purposes of the Otago Medical Research Foundation, or to the National Research Fund of the Diabetic Assocation, or for the scientific research activities of the Pharmacy Education and Research Foundation. would now be deductible by companies.
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Bibliographic details
Press, Volume CVII, Issue 31383, 31 May 1967, Page 16
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159DETAILS GIVEN Press, Volume CVII, Issue 31383, 31 May 1967, Page 16
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