UNEMPLOYMENT TAX REDUCTION

Wanganui Chronicle, Volume 79, Issue 228, 28 September 1935, Page 15

UNEMPLOYMENT TAX REDUCTION

The promised reduction in the raft of emergency unemployment charge from lOd. to Bd. in the £ has been gazetted and becomes effective on October 1, 1935. Employers are reminded that the reduction applies only to salary or wages earned on or after October 1, 1935, and does not effect amounts earned prior to that date, notwithstanding that the payment may be made after September 30. As an illustration, salary or wages paid for services performed for tho week ending October 5 must be apportioned and the tax applied at the rate of lOd in the £ to one-sixth of the remuneration and at the rate of 8d iu the £ to the remaining five-sixths. This reduction also applies to those instalments of the wages which fall due on or after November 1, 1935. The November, 1935, and the February, 1936, instalments will consequently be accepted at the reduced rate. Taxpayers who paid the full year’s tax in advance will be entitled to n refund, but applications for such refunds need not be made as the Unemployment Board is arranging for the necessary adjustments to be effected as early as possible.