SOCIAL SECURITY

Bay of Plenty Beacon, Volume 3, Issue 265, 31 January 1941, Page 5

SOCIAL SECURITY

INSTALMENT FALLS DUE In this issue appears an intimation from the Commissioner of Taxes that an instalment of the Social Security Charge and Security Tax on income other than salary or wages derived during the year ended 31st March, 1940, falls due on the Ist February, and is subject to a late payment penalty of 10 per cent if not paid within one month from that date. lin the case of taxpayers who have paid Social Security Charge in full, but who have not yet made any payment on account of National Security Tax. attention is drawn to the liability in rcspect of the latter tax. The total National Security Tax payable is an amount equal to three-quarters of the Social Security Charge. Persons who are in 'doubt as to their are advised to make inquiry nearest moneyorder office as r early as possible during that mo-nth. A quarterly instalment (ss) of the Social Security Registration fee . payable by male persons twenty years of age or over also becomes due on the Ist February 1941. Failure to pay any instalment of the fee renders a defaulter lidfble, on summary conviction, to a fine of £5. In addition, a penalty of sixptfrice per month automatically ac- ■ crues if payment is not made with-' in one month from the due date. ! Any employer who employs for more than seven* days a person who is more than one month in arrear ■wit 1 " 1 an instalment of the Registration Fee, ; s liable, on summary cor , " ,T *ction. to a fine of £20. Emp!n""V;! may deduct the amount of ai) - ~"- P rr , up. registration fee from r>nvablc to employees.