SALARY POOL
CONTRIBUTIONS BY CABINET MINISTERS. EXEMPTED FROM TAXATION. (By Telegraph- Press Association.) WELLINGTON. This Day. Contributions by Ministers to a salary pool for augmenting the statutory remuneration of other members of the Parliamentary Labour Party are to be deductible for income tax purposes by a new clause added to the Finance Bill, which was passed yesterday. The Minister of Finance. Mr Nash, explained (hat these contributions would in future be treated as expenditure incurred by Ministers in earning their in corn:'.
"Members of the Ministry have been paying portion of their salaries into a salary pool for some time." said Mr Nash, "and the purpose of the clause is to avoid double taxation. Every pound that a Minister receives will be liable for full taxation —income lax. .social security tax and national security tax. All the clause says is that. Ministers will pay taxation tit full rates on the salary they actually receive."
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Wairarapa Times-Age, 20 July 1940, Page 7
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154SALARY POOL Wairarapa Times-Age, 20 July 1940, Page 7
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