FAMILY BENEFITS
Income tax return forms relating to the year ended March 31, 1946, will make provision for claims in respect of taxpayers’ children under 18 years. In a statement, the Minister of Finance, Mr W. Nash, said that the Land and Income Tax Amendment Act passed last year, provided for an exemption in respect of children being allowed for taxpayers, except those receiving Social Security benefits (mainly family benefits) for their children. This tended to bring some injustice to those on lower incomes, who received family benefits last year, and the law would be amended early the next session of Parliament to provide' that the usual exemption for all children would be deductible from assessable income The year ended March 31, 1947, would be the first income year for which the universal family benefit would be paid and, when making income tax assessments on that year and subsequent years, no allowance would be made for children.
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https://paperspast.natlib.govt.nz/newspapers/BPB19460415.2.29
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Bay of Plenty Beacon, Volume 9, Issue 63, 15 April 1946, Page 6
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157FAMILY BENEFITS Bay of Plenty Beacon, Volume 9, Issue 63, 15 April 1946, Page 6
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