UNEMPLOYMENT TAX
DIRECTORS’ FEES DEEMED
WAGES
In many cases officials of companies apparently arc nqt aware that for ununomploynient taxation purposes three tors’ fees are doomed to bo salary or wages. Attention is drawn to the fact that directors’ fees, honoraria and any ■similar payments made in respect of
or in relation to employment or service must bo taxed at the rate or Id in every Is Sd (Is in the £) at the time of payment, and should consebe excluded from such taxpayer’s declaration of other income on form U. 855 The principle applies also to payments bf this nature although they may not be paid direct to person concerned but lodged to the ciedit of his bank account. Taxpayers are reminded that the 10 per cent, penalty imposed by the- Act for late payihenfc of the Emergency Unemployment Charge applies to the .wages fax as well-as to the tax on other income.
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https://paperspast.natlib.govt.nz/newspapers/GIST19330525.2.43
Bibliographic details
Gisborne Times, Volume LXXIII, Issue 11953, 25 May 1933, Page 5
Word Count
153UNEMPLOYMENT TAX Gisborne Times, Volume LXXIII, Issue 11953, 25 May 1933, Page 5
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