COMMENCES TODAY
NATIONAL SECURITY TAX The new national security tax of Is in the £' on all wages, salary and other income will operate as from to-day. The new tax will be assessed and collected along with the social secur ity charge of Is in the £ and will be paid into the War Expenses Account. Non-resident companies are
liable for national security tax. The bill increases the sales tax from 5 per cent to 10 per cent and effect i;s also given to the new rates of succession duties outlined in the Budget. One-half of the revenue derived from sales tax is to he paid into the War Expenses Account along
with thrce-twcnty-thirds of income tax revenue for the current year, land all death and gift duties received after the end of March last.
Permanent link to this item
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https://paperspast.natlib.govt.nz/newspapers/BPB19400722.2.20
Bibliographic details
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Bay of Plenty Beacon, Volume 2, Issue 189, 22 July 1940, Page 5
Word count
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133COMMENCES TODAY Bay of Plenty Beacon, Volume 2, Issue 189, 22 July 1940, Page 5
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