LOCAL AND GENERAL.
The Commissioner of Taxes is now on the track of depositors in the Post Office Savings Bank with a view of making a levy on the amounts accredited to them for interest. The levy, of course, will only affect those whose incomes exceed the exemption, but many in the past have not regarded interest on Post Office Savings Bank deposits as part of their taxable income. They have left the interest in the bank together with the principal until they required to use it, and regarded it as simply a pan of their savings. However, the law says otherwise. It will be interesting to learn what the tax-gatherer actually garners from this source—“whether the game is really worth the candle.'
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https://paperspast.natlib.govt.nz/newspapers/THS19231208.2.10
Bibliographic details
Thames Star, Volume LVII, Issue 15995, 8 December 1923, Page 4
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123LOCAL AND GENERAL. Thames Star, Volume LVII, Issue 15995, 8 December 1923, Page 4
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