FINANCE BILL

Dominion, Volume 36, Issue 17, 15 October 1942, Page 6

FINANCE BILL

Measure Of Twenty-Nine Clauses VARIETY OF PROVISIONS Miscellaneous provisions are contained in a Finance Bill (No. 2) which was introduced and read a first lime in the House. There are 29 clauses, most of which are of a machinery character.

Authority is given for the payment out of the Dairy Industry Account of contributions toward capital expenditure incurred in the reorganization of the dairy industry to meet wartime requirements or post-war conditions. Provision is made for the payment of annual subsidies amounting to £200,000 into the various State superannuation funds. A refund is authorized of portion of sales tax paid in respect of materials need in the manufacture of goods subject to a lower rate of sales tax. This applies particularly to clothing which Is subject to 10 per cent, sales tax on the finished article and to 20 per cent, on the material. The clause reduces th‘e tax on the material to 10 per cent, when used in manufacture.

Authority is given under the Death Duties Act for a rebate of gift duty on gifts subject to duty in other countries. The authorities,may allow a rebate equal to one-half of the gift duty payable under the Act or.under the law of a country outside New Zealand, whichever is the lesser amount. A clause authorizes the refund of a portion of the fees paid to medical practitioners for specialist services under the social security scheme. The refund to the patient is limited to 7/0 for each attendance. This provision Is retrospective to November 1, 1941, and claims for refunds must be made within two months or within such extended time as may in special circumstances be allowed by the medical officer of health.

The Bill makes provision for the payment of the salaries of members of the War Administration who do not hold Alinisterial offices given in the schedule to the Civil List. The salary is at the rate of £ll7O per annum. The provision is made- retrospective to June 30, 1942. The transfer to' the AVar Expenses Account is' authorized of any surplus standing to the credit of any special account established under the Alarketing Amendment Act, 1939. A clause provides that members of the General Assembly are not to be disqualified by receiving travelling allowances or reimbursement of travelling expenses for services as a member of a council, board, committee or otber body. It is also provided that they are not to be disqualified by receipt, during the war period, of compensation for compulsory acquisition of personal property or for exercise of statutory powers in respect of property. Temporary provision is made to pay to members of the General Assembly the travelling expenses iu attending each separate meeting of Parliament.

The consent of the GovernorGeneral in Council is required to the establishment of superannuation schemes by local authorities.

Contributors to the State superannuation funds who enlist in the ar.med forces are to have their period of service, taken into account for superannuation purposes, provided they re-enter the Public Service before 12 months after the termination of the war.

A paym'ent of £5O by the trustees of the Dunedin Savings Bank to the Air Training Corps is validated. The Commissioner of Taxes is authorized to refund instalments of social security and national security taxation in cases of hardship. Another clause extends the time in which a claim for a refund of taxation can be made by a. non-resident trader who derives profits through an agency.