ABOLITION OF NATIONAL SECURITY TAX

Chronicle (Levin), 7 March 1947, Page 7

ABOLITION OF NATIONAL SECURITY TAX

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WELLINGTON, Mar. 6. ' Referring to the national security tax abolition .emergency regulations, 1947, gazettpd today, Mr. Nordmeyer, acting Minister in charge of tlie Land and Inconie Tax Department, said in an interview that the regulations provide that the national security t:ax of sixpetice in tlie pound 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 derivnd during^ the year ended Marcli- 31, 1947, and subsequent years. "The dates from. which tlie national security tax will be aboiished liave been iixed so as to make the peribd of pay m'eht of that tax as nearly as possible the same in cases of taxpayers who pay tax on wages and salaries and tax payers who are taxed on income other than wages and salaries," Mr. Nord meyer said. "Tlius the tax in respect of salaries and wages applies to the period from July 22, 1940, to April 20, 1947, a total of 2464 days, while tln tai in respect of income other than salary or wages applies to the period from July 1, 1939, to March 31, 1946, a total of 2466 days." The rate of social security charge would reinain at ls 6d in the pound, Mr. Nordmeyer 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 the £) and the Commissioner of Taxes proposed to xnake available to einployers through tlieir various organisations, a table to assist' in computing the charge to be deducted from salaries and wages.