INCOME-TAX FORMS

Stratford Evening Post, Volume II, Issue 223, 19 April 1933, Page 5

INCOME-TAX FORMS

Some New Requirements EXEMPTION FOR WIFE Taxation changes recently made by Parliament are reflected in the new income-tax forms which are now available at all post offices, The 1933 edition is the usual document of eight foolscap pages, and the imprint shows that 370,000 copies have been printed this year.

What strikes the taxpayer's eye is the heading on the front page in bold letters* "Claim for Exemption by Married Man in Respect of His Wife." A little higher up, in a section for personal particulars, he is required to state whether he was married or single on March 31, 1033. For the purposes of exemption, he must give "full Christian name of wife, who is living with me or is supported by me." If the 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 tire exemption to be reduced pro rata If he has not been in a married state for the whole 12 mouths. If the wife has had an income of £SO or over in her own right from all sources during the income year, the fact must also be 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 £SOO has been reduced by £SO, but a special exemption is granted to married men. under the conditions stated The only other change on the first page of the form is the re- ! nuirement that income from dividends j from companies trading in New ZeaI land must be stated in New Zealand I currency.

On the second page a taxpayer, if he 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 "income from dividends received from companies or concerns the head office of which is outside the British Empire. This income Was all along been taxable, since the dividends are not regarded as having already been 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 another source" category.