FINANCE BILL

Otago Daily Times, Issue 24738, 15 October 1941, Page 6

FINANCE BILL

SOCIAL SECURITY BENEFITS REMOVAL OF ANOMALIES VALIDATING GLAUSES IN , MEASURE ... (0.C.) WELLINGTON. Oct. 14. “An important clause in this Bill constitutes an endeavour to remove anomalies in connection with the age benefits under the Social Security Act,” said the Minister of Finance, Mr W. Nash, in the House of Representatives to-night when the Finance Bill (No. 2) was introduced. The Bill was read a first time.' Mr Nash explained that it was, possible under the existing law for a person having money of his own other -..than--asocial security benefit to receive lessen all than a; person relying tons the hfnefit would ensure that such a person -would get at least dhe kame as the ohe>,who relied ort . the' benefit. ■ f-Thp (fiauise states that where, in considering .hn 7 application for the age benefl.t,, to the commission that-'-the'-aeplicant will be liable to ‘ or national security tax .bit the whole or part of his income, the .commission may, in computing thd; applicant’s income, disregard the part fraud in social security or national security tax, and so adjust any anomaly." , J.,; Payments Validated : Thq Bill comprises nine clauses. The first stipulates that the proceeds of State Advances Corporation stock held by the Minister of Finance are to be ■paid into the public accounts to the credit of the Loans Redemption Account and applied in repayment of the public debt. The third and fourth clauses relate to members of the Legislature. It is. provided that the disqualification provisions shall not apply with respect to any payment received from public moneys by Mr W. Perry, M.L.C., in connegtion with his services as a member of the Commission of Inquiry appointed this year to inquire into the loss of shipping by enemy action, to any payment received by Mr R. Eddy, M.L.C.. in respect of his attendance at the International Labour Conference at New York, or to any payment that may be received from public .< money by any member of Parliament by wav of travelling allowances as-a member of the Council of Primary Production* The appointment of Mr W. Black, M.L.C.. is validated in a clause which states that when summoned to the Legislative Council Mr Black was disqualified from being summoned as he was a civil servant within the meaning of section 2 of the Legislature Act. 1908. ■- ■ ' ■ ■ The Naval Board is given power to assist units or controlling bodies of Sea Cadets by providing stores and equipment by way of grant, loan -or purchase.- ...... Grants by Local Bodies Authority is contained in the Bill for local authorities to make grants to employees on their retirement. They may pay an amount equhl to six months’ salary to an employee who retires after at least 10 years’ service. “This last clause gives the Bank of New Zealand the same power-as an ordinary company to deduct social security and national security tax from its preference dividends before they are paid,” the Minister added. The clause is an amendment to the Bank of New Zealand Act, 1926.