RETURNS OF INCOME DUE Ist JUNE

Nelson Evening Mail, Volume LXVI, 4 May 1934, Page 4

RETURNS OF INCOME DUE Ist JUNE

PENALTY FOR NEGLECT Furnishing a return of income is an annual duty imposed by law on all companies and persons in business, whether for the whole or part of the income year and irrespective of whether a profit or a loss was made; also by all persons in receipt of income from salary, wages, bonus, allowances, interest, rent, annuity or other annual payment, where such income in conjunction with income from free-of-tax Government securities, company debentures issued free of tax, and from dividends or other profits from shares in companies trading in New Zealand exceeds £2OO per annum. Returns are required annually from such persons notwithstanding that by reason of the special exemptions allowable by law thev may not be liable for tax.

Form No. 3, which is now obtainable at all post-offices, is the form to be utilised by all individual taxpayers, partnerships, estates, and commercial, industrial, or investment companies. The return should be completed and forwarded to the Commissioner of Taxes, Wellington, C. 1, on or before the Ist June. If for any reason the return cannot be furnished by the prescribed date application should be made for an extension of time. Where returns are accepted compiled to a date subsequent to the 3.lst March, they should be furnished within two months of that date. Any person required by law to furnish a return and neglecting to do so is liable on conviction to a penalty not exceeding £IOO,