TAXATION REFUNDS

Press, Volume CII, Issue 30172, 2 July 1963, Page 14

TAXATION REFUNDS

Payments By Sept 30 (From Our Own Reporter) WELLINGTON, July 1. Because of the introduction of advanced accounting machinery in recent months in the Inland Revenue Department, wage and salaryearners, who have made income tax returns to enjoy the full tax reduction declared in the last Budget, should receive any refunds due to them before the end of September. The Budget arrangement, whereby taxpayers have to claim the tax reduction for the first six months of the last financial year before PAYE tables were adjusted to the new rates last October, is expected to produce many thousands extra income returns this year Last year, 893.000 taxpayers made returns for wages and salaries. The Commissioner of Inland Revenue (Mr F. R Macken' said today he expected that, although the normal increase might have meant about 900.000 returns this year, he now expected the number to pass 1.000,000 Refunds are already being made to wage and salary earners of the 5 per cent reduction in ordinary income tax. up to a maximum of £5O and for the extension of the Social Security tax exemption on the first £2 a week of income of all individual taxpayers Mr Macken said that salary anc wage-earners who have made returns, bu' who have no* received refunds due to them oy the end of September should get in touch with rhe department