Income Tax
Sir, —According to “The Press” this morning the personal exemption tax bn income is now to be $275. Does this mean that a superannuitant will now pay tax on the difference between $275 and the $5BB he receives in benefit?— Yours, etc., BENEFICIARY. September 6,1968.
[The District Commissioner of Taxes (Mr C. K. Jones) re'plies: “1 must presume that your correspondent is referring to universal superannuation, and. stress that the legislation to alter the rates and exemptions for income tax from April 1, 1969, has not yet been passed by Parliament. I understand, however, that to avoid penalising universal superannuitants a rebate is proposed which should ensure that no additional tax is payable on universal superannuation.”]
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19680912.2.85.4
Bibliographic details
Press, Volume CVIII, Issue 31782, 12 September 1968, Page 14
Word Count
118Income Tax Press, Volume CVIII, Issue 31782, 12 September 1968, Page 14
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.