THE WAGE TAX
N 0 DEDUCTION FDR BUSINESS LOSSES [l’kr United Press Association.] AUCKLAND, June 16. > Unemployment taxation of wages and salaries is payable irrespective of any losses taxpayers may make in other business, according to a ruling given the Auckland Farmers’ Union by the Unemployment Commissioner. “ What would be paid by a man who, for example, earned £IOO in salary, and lost £l5O in farming?” the commissioner was asked.
He replied that a loss suffered in respect of one business in one year might be set out against the profits derived in the same year from all sources except salaries or wages. The emergency charge on salaries or wages must bo deducted by employers, but the charge on income other than salaries or wages was imposed by another section of the Act, and the loss on other income could not be set off against salary or wages. In the case quoted the £IOO earned would be taxed at the time of its payment, and it was immaterial that the wage earner suffered a loss on farming.
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Evening Star, Issue 21748, 16 June 1934, Page 19
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177THE WAGE TAX Evening Star, Issue 21748, 16 June 1934, Page 19
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