CHARGE ON INCOME

Waipa Post, Volume 43, Issue 3354, 29 September 1931, Page 5

CHARGE ON INCOME

PAYABLE IN NOVEMBER.

WOMEN SHARE IN PAYMENT. The regulations governing the emergency unemployment charge on income other than salary or wages have been gazetted,, and come into force as from the Ist October. The first instalment of the charge is due on Ist November.

The tax, which is at the rate of Id in every 6s Bd, is based on two-thirds of the income "other than salary cr wages" for the year ended 31st March, 1931, and on one-third of such income for the year ending 31st March, 1932. DECLARATIONS OF INCOME.

Every person who is not wholly exempted from liability for the levy of 20s per annum, whether or not he has any income other than salary or wages, will be required to make a declaration to the Secretary, Post and Telegraph Department, regarding his income for the year ended 31st March, 1931, and another declaration regarding his income for the year ending 31st March, 1932.

The form of declaration contains three clauses, and the two clauses which are not applicable will be struck out by the person making the declaration.

The first clause is for those persons who have no income other than salary or wages. Clause 2 is for persons who state that they have made a declaration of their income to the Commissioner of Taxes. Persons who declare under this clause have to sign another form of declaration to the Commissioner of Taxes disclosing the amount of income received.

Clause 3 is to be used by those persons who disclose their income to the Post and Telegraph Department.

DECLARATIONS BY WOMEN.

Every women ordinarily resident in New Zealand, whose income from all sources, including salary or wages, is £250 or more per annum, is required to make a declaration of income, and to pay tax on that portion which is not salary or wages. PAYMENT TO TAX.

The tax on two-thirds of the income for the year ended 31st March, 1931, is payable in two equal instalments; the first of which is due on the Ist November, 1931, and the second on the Ist February, 1932. Both instalments may, if desired, be paid in one sum in November. The tax on one-third of the income for the year ending 31st March, 1932, is due on the Ist May, 1932. A typical example would be that of a man or woman who receives £l5O in salary or wages and £IOO from interest (income other than salary or wages) during the year ended 31st March, 1931. The tax payable would be 16s Bd, at the rate of 3d in the £ on two-thirds of the £IOO (8s 4d of which will be payable on Ist November, 1931, and 8s 4d on Ist February, 1932). The person who declares his income to the Commissioner of Taxes must forward the appropriate amount of tax with his declaration The person who declares to the Secretary of the Post and Telegraph Department must pay the appropriate amount of tax on presentation of his declaration at a money-order office. A rather unusual feature is that no notice or demand will be issued for the instalment due on the Ist February, 1932. The responsibility is thrown on the taxpayer of paying the amount when due, and he is required to produce his receipt for the first instalment as evidence of the amount for which he is liable or make a fresh declaration. PENALTIES.

A penalty of 10 per cent, accrues of any tax not paid within one month of due date, and the person making default is also liable on summary conviction to a fine of £5. A fine of £SO fs provided in the case of any person who refuses or fails to fr

fail's to furnish any declaration or information required by the regulations, or who wilfully or negligently makes any false declaration or aids, abets or incites any person to commit an offence against the regulations.