Land and Income Tax Amendment Act 1964 (absentee pensioners)

This commentary item was published in Public Information Bulletin Volume 21, April 1965.

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Here is the Minister's statement

"One of the main changes is the elimination of all special exemptions from absentee individuals except when they are personally present in New Zealand and earning income from personal services. The general rule in these cases will be that they will be entitled to proportionate special exemptions based on the number of weeks they have been paid for their services.

"The Government appreciates that the new basis may create hardship especially in relation to superannuation payments made from New Zealand to overseas residents. A new tax table for deduction of tax from these payments comes into operation today.

"This tax table applies to pensions and superannuation payments made to residents of countries, other than the United States, with which New Zealand does not have a double tax agreement.

"As from today the double tax Agreement with the United Kingdom expired.

"Government is examining the position to see what steps may properly be taken to alleviate hardship that may otherwise be suffered by overseas pensioners and superannuitants."