PAYMENT OF TAX
Longer Period Wanted (N.Z. Press Association) AUCKLAND, Sept. 21. The Auckland Chamber of Commerce has suggested that a reasonable extension of the tax payment penalty date should be made in cases where trading banks are not permitted to extend accommodation Mr W N. Pearman, secretary of the Auckland chamber, said tonight that concern had been expressed at a warning made by the Reserve Bank that customers should ensure that tax due in February, 1962. could be paid within the present banking arrangements and after allowing for • reduction programme. We say an established financial pattern of some bank accommodation' has been allowed toward payment of taxes.” said Mr Pearman. “This is borne out by the fact thct Reserve Bank ratios have almost invariably been altered at tax time for this purpose. "If it is now to be the settled policy that no bank accommodation is to be provided, the business community will require a longer time to adjust itself to the new pattern.”
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Bibliographic details
Press, Volume C, Issue 29625, 22 September 1961, Page 10
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165PAYMENT OF TAX Press, Volume C, Issue 29625, 22 September 1961, Page 10
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