SIXPENCE NATIONAL SECURITY TAX TO COME OFF NEXT MONTH

Wanganui Chronicle, 7 March 1947, Page 4

SIXPENCE NATIONAL SECURITY TAX TO COME OFF NEXT MONTH

(P A.) Wellington, March 6. Referring lo the National Security Tax Abolition Emergency Regulations, 1947, gazetted to-day, Mr. Nordmeyer, acting Minister in Charge of Land and Income Tax Department, said, in an interview, that the regulations provide that National Security Tax of Gd in I he £ will not be payable on salaries and wages derived in respect of any period after Sunday, April 20 next, or on income other than salaries and wages derived during the year ended March 31, 1947, and subsequent years. “The dates from which the national security tax will be abolished have been fixed so as to make the period of payment of that tax as nearly as possible the same in the case of taxpayers who pay tax on wages and salaries and taxpayers who are taxed on income other than knd salaries,” Mr. Nordmeyer said. “Thus the tax in respect of salaries and wages applied to the period from July 22, 1940, to April 20, 1947, a total of 2464 days, while the tax in respect of income other than salary or wages applies to the period from July 1 1939. to March 31, 1946, total of 2466 days.” The rate of social security charge would remain at Is 6d in £, Mr. Nordmever said. This rate was not so readily calculated as the present combined rate of one penny in every ten pence, or part thereof (2s in £). and the Commissioner of Taxes proposes to make available to employers, through their various organisations. a table to assist in computing the charge to he deducted from salaries and wages.