Tax to be reinstated
PA Wellington The Government will withdraw the licensing exemptions under the Sales Tax Act that apply to people engaged .in building and fitting bodies to commercial trucks or delivery vans, said the Minister of Customs (Mr Templeton). The .exemption was originally granted in 1958 to cushion the effect of the motor-vehicle tax increase of from 20 per cent to 40 per cent and to provide some measure of protection to the body-build-ing industry, he said. But in view of the greater sophistication of commercial vehicles today, and the lowering of the tax rate to 10 per cent on commercial vehicles of over 3.5 tonnes, there was no valid reason for continuing the exemption. The withdrawal would also have the effect of providing uniform treatment ofr all vehicles and trailers under the road transport taxation scheme. The withdrawal is part of the package that was announced in the 1977 budget, and to which the recent reduction of the tax rate of commercial motor vehicles also contributed, he said.
The withdrawal of exemptions will apply from April 1.
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Press, 29 March 1980, Page 11
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180Tax to be reinstated Press, 29 March 1980, Page 11
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