TAX OBLIGATIONS

Otago Daily Times, Issue 24828, 30 January 1942, Page 8

TAX OBLIGATIONS

NATIONAL AND SOCIAL SECURITY In this issue appears an intimation from the Commissioner of Taxes that an instalment of the combined social security and national security tax on income other than salaries or wages derived during the year ended March 31, 1941, falls due on February 1. All such income derived by male and 'female persons (including Natives) 16 years of age or over, also by those companies not specifically exempted, and trustees who derived trustees' income which no beneficiary is entitled to receive during the income year is subject to the charge. A penalty of 10 per cent, is payable on any amount not paid within one month following the due date. Income derived by a person in recipt of a war pension in respect of his total disablement is exempt from the charge. Monetary benefits from the Social Security Fund are also exempt. On February 1 an instalment of the registration fee (ss) also becomes payable by all male persons, including Natives, 20 years of age or over, and all such persons must pay the fee or establish the right to exemption. Persons entitled to exemption, including those in reciept of an age benefit from the Social Security Fund and who are not in receipt of any other income, mav be held liable for payment of the instalment unless a claim for exemption is completed and presented with the coupon book at a money order office within seven days after the last day for payment of that instalment. Failure to pay renders defaulters liable, on. summary conviction, to a fine of £5. In addition, a penalty of 6d per month, with a maximum penalty of 2s 6d for each instalment, automatically accrues if payment is not made within one month following the due date. Persons who attain the age of 16 years are reminded of their obligations to register under the Social Security Act within one month of their sixteenth birthday and to obtain possession of a coupon book. Neglect to do so within the time allowed is an offence, and is punishable on conviction by a fine of £SO.