EMERGENCY TAX

Grey River Argus, 10 November 1931, Page 3

EMERGENCY TAX

DECLARATIONS OF INCOME. It is very important for those per son s liable for the Emergency Unemployment Tax of one penny in every six shillings and eight-pence of income other than salary or wages to remember that simultaneously with the handing in of the declaration they are required to pay the amount, of the tax in respect of one-third of the income derived dur ing the year ended 31st. March, 1931. Many people have forwarded declarations without enclosing the amount of the rax due, apparently i n the belief that subsequently a demand would be made as is done in the case of income tax; this, however, i s not the case. No demand will be made, and if payment is not arranged wi hin one month of due date a penalty of 10 per cent., will be incurred. In order, therefore, that it lie penalty may be avoided, it is ad visable that all amounts not sent in wi h the declarations be remitted without delay. There appears to be some misconception concerning the form issued by the ‘ Unemployment Board for the guidance of farmers in making a return of income in connection with the unemployment relief tax. It is desired to emphasize that the object of issuing this form was to provide farmers with a simple method of preparing a balance sheet, so that when they went to a post office Ito declare their income they could supply the actual figures of their profit and loss account for the year. If is not necessary that Ithis form, when completed, should be handed in at the post office, but the declaration must be completed in every case. Quite a number of Ithe forms have already been sent i n to various post offices, but they cannot be dealt with without the declarations. The declaration must be made and Ithe tax paid at the nearest Money-order office. The declaration must not be posted to the Secretary of the General Post Office at Wellington. When declarations are sent to the Commissioner of Taxes ithe amount of the Tax must accompany the declaration in each case In estimating the value of live-stock and produce on hand and unsold, the 1 current market price should be the guide, and this may be standardised , and used in valuing the sftock at i both the commencement and the end lof the period. Live stock purchased will, of course, be stated at the price paid, and those sold at ( the price realised. v On the expenditure side, pay-

able for farm, also rates and insurance, should no* include any amount applicable only to the dwelling house. If any payments off the principal owing have been made they may not be included as expenditure. On the receipts side include under “produce used for private or domestic purposes.” the value of all meat, milk, eggs, friut, vegetables, and other items of a like nature used bv the household