INCOME-TAX FORMS

Poverty Bay Herald, Volume LX, Issue 18068, 20 April 1933, Page 2

INCOME-TAX FORMS

NEW REQUIREMENTS EXEMPTION FOR WIFE Taxation changes recently made by Parliament are reflected in the now income-tax forms which are now available at all post offices. The 193;? edition is the usual document of eight foolscip pages, and tho imprint shows that 370,000 copies have been printed this year. What first strikes the taxpayer’s eye is the heading on the front page in bold letters, “Claim for Exemption by Married Man iii Bospect of His Wife." A little higher up, in a section for personal particulars, he is required to state whether ho was married or single on March 31, 1933. For the purposes of exemption, he must give “full Christian name of wife, who is living with nie dr is supported by me." If tho taxpayer has married in the course of the year or is a widower or divorcee, he must state the date on which'the event took place. This is to enable the exemption to bo reduced prd rata i£ ho has not been in d married slate for the whole 12 months, e

If the wife has had an income of £SO dr over in her own right from all s.ourccs during the income year, the fact must also bo stated, because if her income exceeds £49 no exemption is allowed. The position is that the general exemption beginning at .£260 and decreasing to nothing at £BOO has been reduced by £SO, but a special exemption is granted to married men under tho conditions stated. Tho only other change on tho first page of tho form is the requirement that income from dividends from companies trading in New Zealand must be stated in New Zealand currency. On the second page a taxpayer, if ho receives quarters, board or sustenance allowance from his employer in addition to his salary or wages, is required to include their estimated value in his income. Such benefits were formerly | not taxable. Another new item is j “income front dividends received from j companies or concerns the head .office of which is outside tho British Empire." This income has all along been taxable, since the dividends are ( not regarded as having already ' been t taxed in any British country, but it has been thought wise to include the item specifically instead of allowing it to remain in the form “from any other source" catcgOry.