£6,000,000 MORE.
SECURITY TAX. NOW IN FULL OPERATION.
EVERYONE A PATER.
Estimated to produce nearly £6,000,000 for the balance of the financial year, and about £8,000,000 in a full year, the national security tax of 1/ in the £ comes into general operation to-day. The tax on income other than salary and wages will be collected ae from July 1.
The basis of the new tax is the same as that of the social security tax, and raises the total direct deductions from incomes of all kinds to 2/ in the £. Collection will be made through companies and .employers in the case of salaries and wages, and through the post office in the case of other payments. "Everyone is vitally concerned in the outcome of this war, and therefore should make some appreciable contribution towards its cost," said the Minister of Finance, the Hon. W. Nash, in announcing the tax on June 27. "It will be paid by everyone, and everyone will know that he or she is paying it."
As a national security tax of 4/ to 5/ a week might impose some degree of hardship upon families with several children living on an income of £4 to £5 the Government is extending family benefits to cover the second and each subsequent child.
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Bibliographic details
Auckland Star, Volume LXXI, Issue 172, 22 July 1940, Page 9
Word Count
213£6,000,000 MORE. Auckland Star, Volume LXXI, Issue 172, 22 July 1940, Page 9
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