TAXATION CHANGE
Investment Income
(N.Z. Press Association) WELLINGTON, August 22. The class of taxpayer who can pay tax on investment Income after the end of the tax year, instead of as provisional tax during the year, has been extended from $lOO to $2OO. The Minister of Finance (Mr Muldoon) said today that this concession would apply to taxpayers whose only income, apart from income from which P.A.Y.E. deductions were made, was taxable Interest, net rents, or dividends totalling not more than $2OO. In the Budget he had said this change would apply from next year, but it had been found possible to make the change this year so that these taxpayers would not have to pay provisional tax this Aug-ust-September or in Febru-ary-March next year.
They would pay the tax on their 1968-69 Income in one sum in March, 1970. Their annual tax assessments would show the amount to pay, Mr Muldoon said. The change was. made in. the Land and Income Tax Amendment Bill, 1968.
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https://paperspast.natlib.govt.nz/newspapers/CHP19680823.2.198
Bibliographic details
Press, Volume CVIII, Issue 31765, 23 August 1968, Page 22
Word Count
166TAXATION CHANGE Press, Volume CVIII, Issue 31765, 23 August 1968, Page 22
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