SOCIAL SECURITY CHARGE

Poverty Bay Herald, Volume LXVI, Issue 19882, 8 March 1939, Page 6

SOCIAL SECURITY CHARGE

RATE OF PAYMENT OYERLAPPING PERIOD (Special to the Ilcrald.) WELLINGTON, this day. The message published previously about the liability of .contributors for the social security charge on wages and other income paid .after April 1, but covering a period beginning before that date, was incorrect, said the Commisaioner of .the Land and Income Tax Department, Mr. J. M. Park, yesterday. "I would point put that section 113 (1) Ob) of the Social Security Act provides, ‘that with the date of the commencement Of pant IV ,of the Act (April 1, 1989) but paid on or after that date, the rate shall be one penny for every two shillings and sixpence or part thereof included in the amount of such salary or .wages,’ ” said Mr. Park. “Under this section salary and vyages paid after April 1 but in respect of a period beginning before that date will! be apportionable and the amount apportioned to the period before April 1 will be chargeable at the employment ttax rate of Id in each 2s (id (or 8d in the £1). “Income other than salary or wages derived during the year ended March 31, 1939, will, of course, be liable at the social security charge rate of Id in each Is 8d (or Is in the £1), payable in quarterly instalments.”