TUESDAY, NOVEMBER 11, 1980
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TAX EXEMPTION ON INTEREST EARNED
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INTEREST PAYABLE BY LICENSED BANKS, BY CERTAIN PUBLIC UTILITIES AND BY THE GOVERNMENT AT RATES OF UP TO 8-1/2 PER CENT PER ANNUM WILL BE EXEMPT FROM INTEREST TAX FROM TODAY, A GOVERNMENT SPOKESMAN ANNOUNCED.
HE SAID THAT THIS REPRESENTS AN INCREASE OF ONE PER CENT IN THE EXEMPTION LIMIT, AND FOLLOWS THE ANNOUNCEMENT BY THE EXCHANGE BANKS' ASSOCIATION ON SATURDAY THAT THE RATES OF INTEREST PAYABLE ON SAVINGS ACCOUNTS WOULD BE INCREASED TO 8-1/2 PER CENT WITH EFFECT FROM TODAY.
A NOTICE SIGNED BY THE FINANCIAL SECRETARY UNDER SECTION 28(1) OF THE INLAND REVENUE ORDINANCE IS PUBLISHED IN AN EXTRAORDINARY GAZETTE TODAY.
FREE CHINESE MUSIC CONCERT FOR NORTH DISTRICT RESIDENTS
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THE RECENTLY FORMED NORTH DISTRICT ARTS ADVANCEMENT ASSOCIATION IS ORGANISING ITS FIRST CHINESE MUSIC CONCERT FOR LOCAL PEOPLE.
INSTRUCTORS FROM THE MUSIC OFFICE WILL PERFORM AT THE CONCERT TO BE HELD AT FUNG KAI SECONDARY SCHOOL, SHEUNG SHUT, ON SATURDAY (NOVEMBER 15) AFTERNOON.
TICKETS ARE AVAILABLE AT THE ASSOCIATION'S OFFICE AT 24 SAN FUNG AVENUE, SHEUNG SHUI. ADMISSION IS FREE.
MUSIC, DRAMA, DANCE, CULTURAL AND GARDEN ARTS SUB-COMMITTEES HAVE BEEN FORMED BY THE ASSOCIATION SINCE ITS ESTABLISHMENT IN AUGUST.
THE CONCERT IS BEING ORGANISED BY THE MUSIC SUB-COMMITTEE WHICH HAS ALSO FORMED A CHILDREN'S CHOIR, A CHINESE MUSIC ORCHESTRA AND A CHINESE MUSICAL INSTRUMENT PLAYING TRAINING CLASS.
A SPOKESMAN FOR THE SUB-COMMITTEE SAID THE CONCERT HAD BEEN ORGANISED TO INCREASE LOCAL PEOPLE'S MUSIC APPRECIATION AND TO BRING A RICHER CULTURAL LIFE TO THE COMMUNITY.
THE ASSOCIATION, WHICH HAS 200 MEMBERS AND 100 AFFILIATED ASSOCIATIONS, WOULD ARRANGE MORE FREE CONCERTS BY ORCHESTRA FROM THE URBAN AREA AND ENCOURAGE ITS MEMBERS TO GIVE PERFORMANCES, HE SAID.
IN SUPPORT OF THE ASSOCIATION, NORTH DISTRICT ADVISORY BOARD HAS PROVIDED $100 000 TO FINANCE ITS PROJECTS. THE ASSOCIATION WILL RAISE ANOTHER $80 000 FROM PRIVATE DONATIONS.
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