WAR LOAN ABOUT TO MATURE

Taranaki Daily News, 6 August 1930, Page 9

WAR LOAN ABOUT TO MATURE

RENEWAL TERMS OFFERED. By Telegraph.—Press Association. Wellington, Last Night. In connection with the 4| per cent, war bonds which were issued in 1916 for war purposes and mature on September 1, the Minister of Finance stated today that the Government was offering holders of maturing bonds renewal for a further period to September 1, 1937, in cither inscribed stock or bearer debentures. Mr. Forbes said the securities issued in renewal will bear interest at the rate of 5| per cent., payable half-yearly on March 1 and September 1. The maturing securities were issued with the condition of freedom from income tax attached thereto, but income from the securities issued in renewal will not be exempt from taxation. It should be clearly understood, of course, that income tax will not be deducted from the half-yearly interest payments, but will be payable only by investors whose incomes are assessable for taxation in the usual way. Bonds which are not to be renewed will be paid on presentation at maturity.