Security Tax Sixpence Less

Northern Advocate, 7 March 1947, Page 4

Security Tax Sixpence Less

(P.A.) WELLLINGTON. This Day. Referring to the National Security Tax Abolition Emergency Regulations. 1947, gazetted yesterday, the actingMinister in charge of the Land and Income Tax Department (Mr Nord- [ meyer) said that the regulations provide that the national security tax of 6d in the pound will not be payable on salaries and wages derived in respect of any period after Sunday, April 20 next, or on incomes other than salaries and wages derived during the year ended March 31, 1947, and subsequent years. ‘•The dates from which the national security tax will be abolished have been fixed so as to make the period of payment of that tax as nearly as possible the same in the case of taxpayers who pay tax on wages and salaries and taxpayers who are taxed on income other than wages and salaries," Mr Nordmeyer said. ‘‘Thus the tax in respect of salaries and wages applies to the period from July 22, 1940, to April 20, 1947, a total of 2464 days, while the tax in respect of income other than salary or wages applies to the period from July 1, 1939, to March 31, 1946, a total of 2466 days." The rate of the social security charge would remain at 1/6 in the pound. Mr Nordmeyer said. This rate was not so readily calculated as the present combined rate of one penny in every lOd or part thereof (2/- in the pound), and the Commissioner of Taxes proposes to make available to employers through their various organisations a table to assist in computing the charge to be deducted from salaries and wages.