COMMERCIAL
TAXATION ANOMALY
NATIONAL SAVINGS BONDS
In view of the reduction of Gd in the pound to be made next year in national security tax, holders of national savings bonds are raising the question whether the taxation authorities will grant a refund of national security tax overpaid. Social security charge and national security tax at the maximum rate of 2s 6d in the pound over the full period of the currency of the bonds was included in the purchase price of the bonds The matter was raised on the Auckland Stock Exchange along with the anomaly which the proposed reduction has created in the value of tax-free stock the Government is to offer as one of the options in the acquisition of the privately-owned shares in the Bank of New’ Zealand. It was agreed that members of the committee of the Exchange should consider the implications of the change with a view to making representations to the Taxation Department through the Stock Exchange Association.
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https://paperspast.natlib.govt.nz/newspapers/GISH19451218.2.136
Bibliographic details
Gisborne Herald, Volume LXXII, Issue 21899, 18 December 1945, Page 6
Word Count
164COMMERCIAL Gisborne Herald, Volume LXXII, Issue 21899, 18 December 1945, Page 6
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