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MONDAY, OCTOBER 30, 1978
TAX EXEMPTION RATE. ON INTEREST RAISED
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A GOVERNMENT SPOKESMAN ANNOUNCED TODAY (MONDAY) THAT INTEREST PAYABLE BY LICENSED BANKS AND BY THE GOVERNMENT AT RATES OF UP TO 3-1/2 PER CENT PER ANNUM WOULD BE EXEMPTED FROM INTEREST TAX WITH EFFECT FROM TODAY.
THIS REPRESENTS AN INCREASE OF ONE PERCENTAGE POINT IN THE EXEMPTION LIMIT AND FOLLOWS THE ANNOUNCEMENT BY THE EXCHANGE BANKS' ASSOCIATION LAST THURSDAY THAT THE RATE OF INTEREST PAYABLE ON SAVINGS ACCOUNTS WOULD BE SIMILARLY RAISED TO 3-1/2 PER CENT ALSO WITH EFFECT FROM TODAY.
TUEN MUN LAND AUCTION ****
THE GOVERNMENT IS TO SELL TWO PRIME SITES IN THE FAST GROWING TUEN MUN NEW TOWN AT A PUBLIC AUCTION TO BE HELD AT THE ST. SIMON LU! MING CHOI SECONDARY SCHOOL TOMORROW (TUESDAY) AFTERNOON.
THEY ARE A COMMERCIAL SITE MEASURING 691.3 SQUARE METRES THE FIRST COMMERCIAL LOT IN TUEN MUN COMING ON TO THE MARKET AND A 4,971 SQUARE METRE SITE WHICH HAS BEEN EARMARKED FOR INDUSTRIAL DEVELOPMENT.
THE COMMERCIAL SITE, LOCATED RELATIVELY CLOSE TO THE TOWN CENTRE, IS SPECIALLY DESIGNATED FOR MULTI-STOREY COMMERCIAL DEVELOPMENT AND ITS CONDITIONS OF SALE ALLOW FOR A WIDE VARIETY OF COMMERCIAL USE, SUCH AS A RESTAURANT, SHOPS AND BANKING PREMISES ON THE LOWER FLOORS AND OFFICE SPACES ON UPPER FLOORS.
THE INDUSTRIAL SITE IS AN EXTENSION OF THE EXISTING INDUSTRIAL AREA IN TUEN MUN SAN HUI.
NOTE TO EDITORS:
YOU ARE INVITED TO SEND A REPRESENTATIVE TO COVER THE LAND AUCTION WHICH BEGINS AT 2.30 P. AT ST. SIMON LUI MING CHOI SECONDARY SCHOOL. PRESS TRANSPORT WILL BE PROVIDED. IT WILL LEAVE FROM BEHIND THE TSIM SHA TSUI POST OFFICE AT 1.15 P.M.
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