I.R.D. to answer mortgage inquiries
PA Wellington The Inland Revenue Department is gearing itself to handle inquiries expected when the Budget proposal for first-home mortgage interest rebates becomes law later this month. The Commissioner of Inland Revenue, Mr R. T. Phillips, said that the department was working on two main areas - one relating to taxpayers themselves who may be affected and the other relating to the practical implications for mort-gage-lending institutions. Both areas involved extensive issues, but progress was being made to enable the department to handle its task. Mr Phillips said that he had written to all main lending institutions about the new scheme and what it might mean for them. A pamphlet, setting out the rebate in some detail, was being prepared for the general public. This would be available in local tax offices towards the end of the month after the legislation was passed.
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Press, 7 September 1981, Page 28
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147I.R.D. to answer mortgage inquiries Press, 7 September 1981, Page 28
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