PATRIOTIC FUNDS
GIFT DUTY EXEMPTION USE WITHIN DOMINION PROBABLE CONCESSIONS (Special to the Herald.) WELLINGTON, this day. The imposition of gift duty on large subscriptions to patriotic funds would possibly be a deterrent to generosity. Inquiries in official quarters indicate that it is impossible to give a gencrll indication. However, it can be taken for granted that gifts to patriotic funds, if devoted to purposes within New Zealand would undoubtedly be exempt from duty. However, if the funds are for use overseas, exemption is unlikely.
One general concession to be .introduced this week is that receipts of patriotic fund organisations are not required to bear the usual twopenny stamp. The commercial banks have agreed to remit funds between patriotic associations free of exchange. There is no legal power to make income tax concessions on patriotic gifts, and such provision is regarded as unlikely.
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Bibliographic details
Gisborne Herald, Volume LXVI, Issue 20091, 10 November 1939, Page 11
Word Count
143PATRIOTIC FUNDS Gisborne Herald, Volume LXVI, Issue 20091, 10 November 1939, Page 11
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