Allowance To Continue
(N.Z. Press Association)
WELLINGTON, July 1.
The Government will introduce legislation to continue for . another year the 20 per cent special depreciation allowance on plant and machinery and employee accommodation.
Announcing this tonight, the Minister of Finance (Mr Muldoon) said he had not specifically mentioned this in his Budget statement last week, and he was concerned that .the business community might gain the impression that the allowance was not to be continued on these two items.
The allowance would be extended for another year to March 31, 1971. The allowance covers plant and machinery and employee accommodation in any agricultural, manufacturing, commercial or professional business.
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Bibliographic details
Press, Volume CIX, Issue 32029, 2 July 1969, Page 30
Word Count
108Allowance To Continue Press, Volume CIX, Issue 32029, 2 July 1969, Page 30
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Acknowledgements
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