EMERGENCY CHARGE ON INCOME

Hokitika Guardian, 22 October 1931, Page 3

EMERGENCY CHARGE ON INCOME

DUE ON IST NOVEMBER. The emergency unemployment charge on income other than salary or wages (the first instalment of which will b come due on Ist November) is rt the same , rate ; s the wages t; x— mum ' Id in each 6/8 or fraction tlier of, ami is h. s d , i.i,:, i\\ o-t'i. ■ds o l>e h i l •

for the year ending 3 1 st March, 1 '3l. Every person who is not wholly exempt from liability for the geenral unei -oyim rl I', . and ° 'el v "-oman wlnse income for the year ended 31st March, 1931.0 r 31st March, P 32. is not- less than £250 is liable for the charge. It is necessary to point out that men over the age of 65 who have obtained exemption from payment of i ,th levy, under certain conditions are not exempt under the Unemployment A'-t from payment of the charge-, on income. The charge K not payable on- any amount from which the wages tax lies been deducted, n< r on any class of income which has been declared by the Unemployment Board to be subject to th e wages, tax. Practically the only items of income which are exempt from the emergency charge are "War Pensions, compensation .under the Workers’ Comp' nsation Act, income derived from beyond New Zealand upon which income tax Ims been paid in any other British Dominion, and all income derived in New Zokland by people who are not ordinarily resident in the Dominion or are otherwise exempt from the unemployment levy. “Income” means net income. A person deriving income from rents is entitled to deduct from the gross amount, received the cost of earning rents, such as interest, rates, repairs, etc. All cash receipts are not subject to tlie charge. For instance, gifts, legacies, art union prizes, and capital receipts do not represent income; hut totalisator receipts and racing stakes .must ho included in the income of the recipients. Complete information as to the pro. endure for payment is obtainable at all money-order offices throughout the Dom inion.