INCOME TAX PROPOSALS. NO DIVISION OF PAYMENT. PENALTY TAX REpUCED. WELLINGTON, February 25. The Prime Minister states that tho Government. is very anxious to assist in reducing hardship to taxpayers, but it is impossible, without seriously interfering with the dominion’s finances, to give effect to the suggestion that half the income tax due be paid next financial year. He has arranged that the reduction in the penalty tax which was provided for by last session’s Land and Income Tax Amendment Act shall apply to payment now being made. A person failing to pay his tax on Monday would have a 5 per cent,, instead of a 10 ]aer cent, penalty; if he failed to pay within three months of tho due date (February 7) he would have 7i per cent, added; if be failed to pay- within six months of the due date he would have 10 per cent, added. Ho could have just short of six months to pay the tax at a cost of 7i per cent, of the amount of the tax.. Endorsement by a bank is not now essential
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Otago Witness, Issue 3495, 1 March 1921, Page 37
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183Untitled Otago Witness, Issue 3495, 1 March 1921, Page 37
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