Capitalising Family Benefit
Sir,—l noted with interest the recent announcement in the Budget that the family benefit capitalisation scheme is to be extended to cover the purchase of existing houses, but how many people are aware that a salary bar is applied to the existing scheme? I approached the Social Security Department on this matter but was told that they cannot divulge the actual salary bar and it varies according to the size of the family. However, if the salary bar is applied at the level that I would guess, then perhaps 60 per cent of New Zealanders seeking homes of their own could not qualify, so that the recent Budget gesture is not nearly as generous as it seems. My quarrel is not with the principle of a salary bar, but that if one exists it should be made public so that people know where they stand in planning a house.—Yours, etc., J. P. BLAKELEY. June 30, 1969.
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Press, Volume CIX, Issue 32037, 11 July 1969, Page 10
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159Capitalising Family Benefit Press, Volume CIX, Issue 32037, 11 July 1969, Page 10
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