SOCIAL SECURITY

Hauraki Plains Gazette, Volume 55, Issue 32706, 29 April 1946, Page 8

SOCIAL SECURITY

FIRST INSTALMENT DUE rieduiotion in the rate In this issue appears an intimation from the Commissioner of Taxes regarding Social Security charge and National Security tax. Persons liable to pay the combined charge are required to furnish during the month of May a declaration of income other than salary or wages derived during the year ended March 31, 194'6, and to pay the first instalment of the charge thereon not later than June 1, otherwise a 10 per cent, penalty will be imposed.. The declaration. forms, which are available from money-order offices and Branch offices of the Land and Income Tax Department, contain particulars of persons liable for the charge, together with full infonnation and instructions. The rate of the charge on income other than salary or wages derived during the year ended March 3(1, 1946, has been reduced from 2/6 in the £ to .’2/- in the £. In the case of salaries, wages and other classes of income subject to deduction of the charge at the source, the reduced rate of 2/- in the £ applies only to such income derived in respect of any period after M’ay 12, 1946.