DEFERRED PAYMENT
06V1ATIHG INFLATION (Rec. 12.5 p.m.) CANBERRA, May 26. < War gratuities and interest paid to service men and service women will not be regarded! as property or income under the Invalid and Old Age Pension ' or Repatriation Acts. This was announced by Mr Chifley in introducing the War Gratuity Bill in the House of Representatives. The gratuities .and interest will be tax free. Mr .Chifley explained that to prevent the inflation _ which, would* result .from the sudden release of £63,000,000 represented by war gratuities-and £60,000,000 represented by deferred pay, the gratuity bearing 3J per cent, interest will not be payable for five years, but special provision will be made for an. earlier cash payment in certain cases.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19450526.2.42
Bibliographic details
Evening Star, Issue 25494, 26 May 1945, Page 6
Word Count
118DEFERRED PAYMENT Evening Star, Issue 25494, 26 May 1945, Page 6
Using This Item
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in