PATRIOTIC GIFTS
NO TAX EXEMPTION
"The Government does not consider it necessary or desirable to introduce legislation providing for a reduction in taxation normally payable because of donations to patriotic funds. Any such provision would amount to an indirect subsidy on such donations. The Government has assisted patriotic funds directly in various ways." said the Minister of Finance (Mr. Nash) m the House of Representatives yesterday afternoon in a reply to a question asked by Mr. W. J. Broadfoot (National, Waitomo) as to whether the Minister's attention had been drawn to the statement that the larger companies-were being hampered in contributing to patriotic funds for the care of sick and wounded soldiers by reason of tlie fact that the gift of £1 entailed the payment of £3 for taxation; and, if so. whether he would take steps to exempt such gifts from income tax. The Minister said that the" income •of the Patriotic Fund Board or of the provincial patriotic councils was not subject to taxation. No additional income tax was payable on that account and there was provision for exemption from gift duty.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19430805.2.113
Bibliographic details
Evening Post, Volume CXXXVI, Issue 31, 5 August 1943, Page 7
Word Count
184
PATRIOTIC GIFTS
Evening Post, Volume CXXXVI, Issue 31, 5 August 1943, Page 7
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