FAMILY BENEFITS
INCOME TAX INTEREST RATE
(P.A.) WELLINGTON, May 31. It was stated officially to-day that interest will be allowed on family benefit payments assigned to the Commissioner of Taxes .in accordance with the procedure set out in the family benefit scheme. Publicity has recently been given that advance payments of £1 and multiples of £1 on forthcoming income tax will earn interest at .lg per cent., and the question arose whether similar provision would be made in respect to family benefits assigned to the Income Tax Department, as credits against future tax. On these payments, it was announced to-day, similar interest will be allowed. x It was also mentioned that deductions from the salaries of public servants as credits against future income tax will also bear the same interest.
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Bibliographic details
Greymouth Evening Star, 31 May 1946, Page 2
Word Count
130FAMILY BENEFITS Greymouth Evening Star, 31 May 1946, Page 2
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