Tax saving
Cash gifts by companies to the New Zealand Concrete Research Association will now be tax-deductible, the Minister of Finance (Mr fizard) said today. The Minister said that the Land and Income Tax Act[ allowed a deduction for cash gifts made by companies to universities and approved institutions for research and educational purposes likely to benefit the economy. The exemption is subject to a maximum of five per cent of a company’s assessable income or $lOOO, whichever is the greater; and individual gifts in excess of $5OOO to any one donee require the prior approval of the Minister of Finance.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19741014.2.27
Bibliographic details
Press, Volume CXIV, Issue 33664, 14 October 1974, Page 4
Word Count
101Tax saving Press, Volume CXIV, Issue 33664, 14 October 1974, Page 4
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.