INCOME TAX PAYMENTS.

Auckland Star, Volume LII, Issue 25, 29 January 1921, Page 10

INCOME TAX PAYMENTS.

NO GYHTERAX, CONCESSIONS. ARRANGEMENTS WITH BANKER. (Bj- Telegrapli. —Press Association.) WELLINGTON, this day. A CTiristchurch telegram dispatched yesterday stated that the Government had intimated to a number of large taxpayers that it was prepared to give terms in connection with the payment of taxation. It was stated that the Government woul.l accept one-third of the amounts in cash, and take two promissory notes of three and six months respectively for the balance. The amounts of these promissory notes would include bank interest and stamp duty on the documents ihemselves. •In addition, 15 per cent would bo r.dded to the amount representing the unpaid income tax, but this will be refunded on the promissory notes being met on the due date.

The Income Tax Department, however, says that this telegram is not correct; all that has been done is that in one or two cases the commissioner has consented to an arrangement between the taxpayer and his banker for accommodation. Xo concession has been given, and tlie amount of the tax has to be paid in cash by the due date. The accommodation is really between the taxpayer and the banker.'