BROCHURES ON P.A.Y.E.

Press, Volume XCVI, Issue 28445, 27 November 1957, Page 14

BROCHURES ON P.A.Y.E.

Distribution In February (New Zealand Press Association) AUCKLAND, Nov. 26. P.A.Y.E. could be operated by most firms without the need for additional accounting staff, the Commissioner of Taxes (Mr F. R. Macken) told the Auckland branch of the New Zealand Society of Accountants this evening. More than 400 accountants packed Auckland University hall to hear him. “We have tried the system out with several firms,” he said. “In our own department, which has 1700 employees, we have needed no extra staff. “We have been criticised,” said Mr Macken, “for not having our explanatory brochures ready until February. We had the material assembled months ago, but, naturally, it was not possible to have it printed until the act was passed by Parliament. “The material has had to De edited, and the printing will take some time. One job will be on the machines for seven weeks.

“As you know the mails at Lhe moment are heavily overloaded with political matter, and will have to deal with Christmas posting. Believe me, it is a physical impossibility to have the brochures in the hands of the taxpayers before February.” Mr Macken dealt with a whole sheaf of questions from the accountants, and he managed to get the last word. The final question asked was: “How would the department view a bonus issue of shares, from accumulated profits, during this exempt year?” Mr Macken looked down with a steely eye. “Very carefully,” he said.