GIFT DUTY
A LOOPHOLE REVEALED From Our Parliamentary Correspondent WELLINGTON, This Day. The Prime Minister was asked by Mr McCallum (Wairau) last night whether his attention had been called to the recent judgment of the Full Court by which it seemed that the attempt last vear to increase the gift duty left a loophole by which it was possible for people to give away their whole income without paying duty, as long as they gave it away at the rate of £IOOO or less per day. He asked the Prime Minister for an assurance that this would ho remedied immediately, and that any amending legislation would ho*made retrospective, so that the people might know there was no chance of taking advantage of a slip in tho legislation. The Prime Minister said his r.ttenton had been drawn to the judgment, and as a result, he had gven instructions to the law draftsmen to have an amendment prepared. Ho did not like retrospective legislation if it could possibly be avoided, but the State was not going' to have the legislation of the country played with. He could say that without committing himself io making the amendment retrospective:
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https://paperspast.natlib.govt.nz/newspapers/NEM19211028.2.36
Bibliographic details
Nelson Evening Mail, Volume LIV, 28 October 1921, Page 5
Word Count
195GIFT DUTY Nelson Evening Mail, Volume LIV, 28 October 1921, Page 5
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