TAXATION ARREARS

Taranaki Daily News, 15 July 1930, Page 7

TAXATION ARREARS

RECOVERY OF £350,000.EFFORTS IN NEW SOUTH WALES, As the result of the work of a special investigation staff in. the New South Wales Income Tax Department, appointed last year, £350,000 will be collected over and* above the amount estimated as collectable on account of arrears of taxation. This information has been disclosed in a report handed to the State Treasurer, Mr. Stevens, by the Taxation Cbm* niissioner.

“Since the passage of the Income Tax Management Act in 1925,” Mr. Stevens said, “the Commissioner of Taxation has enjoyed extensive powers of investigation, and in addition quite a number of avenues of avoidance of taxation have been, entirely closed. The scope of the department’s activities has, moreover, been widened to include special examinations of taxpayers’ books and investigations into transactions relating to the sale of land, mortgages, rents, share dealings, and other transactions. The commissioner informs me that some exceptional have been investigated. In one case alone £30,000 has been recovered which, but for the activities of the special investigation staff, apparently would not have been located. “Towards the end of last year I de- j cided, after a conference with the commissioned, to increase the efficiency of the department by ataching a staff of spec- | ial officers, and also to accelerate th© work of assessing taxation returns which have for many years past been unduly, delayed. The result of these special ef*v forts is that up to date this year there have been sent out of the department 10,000 more assessments than the number despatched last, year."