Tax Refunds Starting Soon

Press, Volume CV, Issue 31023, 31 March 1966, Page 1

Tax Refunds Starting Soon

For the “vast majority” of wage earners the next few months hold the welcome prospect of a cheque from the Inland Revenue Department.

The District Commissioner of Taxes in Christchurch (Mr T. M. Hunt) said yesterday that the faster wage and salar. earners submitted their returns, the faster they would get refunds. Those who had to pay more tax on their incomes would have until March. 1967, to do so. Mr Hunt expects the department will handle 60,000 returns this year, and that in the early weeks refunds will go out within days of the returns coming in. At the peak, the time lapse between processing the returns and posting the refunds will be two to three weeks. “It helps us and is to the advantage; of wage and salary earners to file their returns as soon as possible,” he said. ADVICE AVAILABLE All the facilities of the department will be available to employers and employees who find difficulty in completing their returns.

A big team of taxation officers will be available at the Government Life building in Cathedral square to answer queries, and about the end of April other offices will be set up in the suburbs and country areas to handle inquiries. Mr Hunt emphasised that although not every wage earner was obliged to complete a return all should do so to make sure a refund was in order. Persons who earned less than £l3OO during the last 12 months need not submit returns. Those who earned more than £l3OO in salary or wages had income from sources other than salary or wages, or were asked to by the Commissioner of Inland Revenue must submit a return. Taxation return forms are now available at the Inland Revenue Department or at any post office or agency. For the salary and wage earner the form to be completed is known as an I.R. 5. Pamphlets designed to help persons with their returns are also available at the same places. POINTS TO NOTE

Mr Hunt listed the following points which persons should note well when completing their Sign the return in the place indicated on the front page. Failure to do this means that

the form will be returned for signature, and, there will be a consequent delay in forforwarding the refund. Married men claiming exemption for their wives must state the wife's income. If there is no income, write “Nil.” Failure to do this will also delay refunds. Claims for charitable donations, school fees, and school donations must be accompanied by receipts. Such claims will not be recognised until receipts are produced. Claims for life insurance premiums need not be accompanied by receipts. Persons

who took out mortgage redemeption insurance during the year may claim the full premium. Persons who arrived in New Zealand to settle during the year are entitled to the full personal and family exemptions. Parents should read carefully the clause relating to special exemptions for children written on the back of the tax code which they will receive from their employer. Tax certificates showing amount of income and deductions must be pinned to the return on page three.