INTEREST CONCESSION
Debts of Local Bodies COMPLICATIONS FOUND By Telegraph—Press Association. Auckland, June 23. Tho«e local bodies in Auckland which, being heavily indebted to the major State lending departments, expected to derive considerate benefits from the stamp duty provisions of the National Expenditure Adjustment Act are experiencing a rude shock. The State Advances Superintendent is whollv exempt from the payment -.f the duty, and the Public .Trustee exempt to the . extent of his investment of State superannuation funds, until the Public Trustee apportions the amount of loan money represented by the superannuation funds ancj .ne ainaunt represented by private 11Sy?stments the value of the rebate from that source cannot be known. ’ Accordingly, the belief of the majority of Auckland local bodies is that the benefits accruing to them will be too negligible to pass on to the ratepayers.
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https://paperspast.natlib.govt.nz/newspapers/DOM19320624.2.51
Bibliographic details
Dominion, Volume 25, Issue 230, 24 June 1932, Page 10
Word Count
138INTEREST CONCESSION Dominion, Volume 25, Issue 230, 24 June 1932, Page 10
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