Australia Bars Retroactive Tax Exemption on Compensation Payments
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Australia Bars Retroactive Tax Exemption on Compensation Payments

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The Australian Government has refused to grant retroactive tax exemption on compensation payments received by victims of Nazism from the West German Government, it was reported here today.

Harold Holt, Australian federal treasurer, said “it was not the general practice” to give retroactive effect to changes in taxation laws. Legislation exempting from income tax compensation payments to Nazi victims in Australia became operative July 1. The exemption covers both capital sums and pensions and their regular payments.

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