TAX ON SALARY OR WAGES

Hokitika Guardian, 22 October 1931, Page 3

TAX ON SALARY OR WAGES

FREE BOARD AND LODGING TAXABLE. r* In many cases employers are apparently not aware that the value of free housing Or free board and lodging, meals, etc., supplied to employees are .taxable emoluments and should therefore be included in the assessment of salary or wages lor the purposes of payment of the tax. Tax On Income Other Than Salary or Wages. General Information, .-The emergency unemployment charge .is-;payable on all income which is assessable for income tax and also on ■certain items which are exempt from income talx such as dividends from tpmpanies, interest on tax-free war 1 Moans and debentures, income from farming operations and income which is specially exempt under Acts. For the purposes of the Unemployment Amendment Act, 1931, the term ■ ‘‘income” means ‘‘net income.” Any amount from which the wages tax has been deducted including retiring allowances paid to ex-employees from private funds and Directors’ fees (which have been declared by tile Unemployment Board to he subject tu the wages tax) will not require to »e included'in a. person’s declaration lor the : assessment of th e charge. Declaration by Persons Whose Annurl Balance is at a Date Other Tr.an 31st March. The instructions on the back of the declaration, form indicate the. provision which has been made where the annual balance is on a date other than 31st March, but in case the position is not clearly understood it may uc stated that a person whose annual balance is on any date between Ist May and 30th September will pay the charge on the whole of the income derived during ' the year ended on the balance date in 1931. Every person will, however, be required to furnish two declarations, one; in November and the other in May, but the same income will be shown in each declaration. Unemployment Levy Coupon Books. It is of great importance that the coupon-book number be shown on the declaration furnished by every male person, and such declarants are requested to insert thdir coupon-book number in the space provided in the declaration- form before the return is furnished to the Secretary, Post anu Telegraph Department, or to the Commissioner of Taxes.