WAGES TAX.

Manawatu Standard, Volume LV, Issue 258, 28 September 1935, Page 2

WAGES TAX.

REDUCTION ADJUSTMENTS. Tho promised reduction in the rate of emergency unemployment charge from 10J to 8d in the £ becomes effective on October 1, 1935. The reduction applies only to salary or wages earned on or alter October 1, 1.935, and does not affect amounts earned prior to that date, notwithstanding that the payment may be made after September 30. Salary or wages paid for services performed for tlio week ending October 5 must be apportioned and the tax applied at the rate of lOd in the £ to one-sixth of the remuneration and at tho rate of 8d in the £ to the remaining five-sixths. This reduction also applies to those instalments of the emergency unemployment charge on income other than salary or wages which fall duo on or after November 1, 1935. The November, 1935, and the February, 1936, instalments will consequently bo accepted at the reduced rate. Taxpayers who paid the lull year’s tax in advance will -bo entitled to a refund, which is receiving the attention of the Unemployment Board. [Although no official word has been received, on the point, it is assumed that fractions of a pound will bo taxed at the rate of one penny, for every 2s 6d or fraction of this amount.]