TAX ON BONUS PAYMENTS
No Comment By Department *
(New Zealand Press Association)
WELLINGTON, Dec. 9.
Because a committee «et up by the Government to investigate P.A.Y.E. was shortly to start sitting, the Department of Inland Revenue preferred at this stage not to comment at length upon reactions of employers to the effect of P.A.Y.E. on Christmas bonuses and other criticisms of the P.A.Y.E. system, said a spokesman for the department today. He said a Christmas bonus was treated as an extra emolument for taxation purposes and was taxed at a lower rate than would be the case with normal rates under P.A.Y.E. The emolument rates were the same as overtime rates.
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Press, Volume XCVII, Issue 28765, 10 December 1958, Page 24
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111TAX ON BONUS PAYMENTS Press, Volume XCVII, Issue 28765, 10 December 1958, Page 24
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