TAXED MONTH

Auckland Star, Volume LXXVI, Issue 27, 1 February 1945, Page 6

TAXED MONTH

BIG PAYMENTS DUE

AMPLE CREDITS IN BANKS

This month New Zealanders have to find a sum approaching £20,000,000 in income tax for the financial year, 1943-44. This is tax month, for not only is there the payment of income tax, by far the largest amount in the aggregate, but also a social security levy is due, and_ rates, if the 10 per cent penalty is to be avoided, are payable to the majority of local bodies in the Dominion. (In Auckland alone the City Council expects to receive something over £900,000 in general and water rates).

There is ample money in savings and bank credits, however, to enable taxpayers and ratepayers to discharge their financial obligations. According to the latest return there was £121.563,160 in free and fixed deposits in the trading banks at Christmas, while depositors' credit balances in the savings banks tallied around £126,000,000. The due date of payment of income tax is on Wednesday, February 14. Additional tax will accrue if the tax is not paid on or before March 7, 1945. The demands will be posted from the office of the Commissioner of Taxes on or about February 7. Demands must be presented with all payments, and if a demand has not been received the Commissioner should be communicated with.

An instalment of the combined social and national security charge on income other than salary or wages derived during the year ended March 31, 1944, falls due to-day as well as a quarterly instalment (5/) of the registration fee by males aged 20 years or over. In both cases, penalties will be incurred on amounts not paid within one month of the due date. Employers who fail to deduct wages-tax from all wages paid, including amounts paid to casual employees engaged on a time, piece-work or contract basis, render themselves liable to severe penalties.