Social Security Charge

Bay of Plenty Beacon, Volume 14, Issue 6, 1 July 1949, Page 8

Social Security Charge

In previous years the Social Security Charge of 1/6 in the £ payable on income other than salary or wages, was payable in four quarterly instalments, but commencing with income derived during the year • ended 31st March, 1949, the charge is now due and payable in two equal instalments falling due on July 1 and November 1. Persons liable to pay the charge are required to furnish in July, 1949, a declaration of income other than salary or wages derived during the year ended March 31. 1949. The first instalment of the charge thereon, which should accompany the declaration, is due on July 1, 1949 and must be paid within one month of that date otherwise the 10 per cent penalty for late payment will accrue.

Wages Tax Employers who fail to deduct and duly account for wages tax in respect of al wages paid, including amounts paid to casual employees engaged on a time, piecework or similar basis render themselves liable to severe penalties. The necessity for retaining pay sheets, wages books and receipts for wages, salaries or other classes of income subject to deduction of the charge at the source, for a period of not less than 5 years is also stressed. Such records must be available for v inspection by any person authorised by the Regulations to inspect books or other documents.