THE EMERGENCY TAX

Hokitika Guardian, 14 November 1931, Page 3

THE EMERGENCY TAX

DECLARATIONS OP INCOME

MUST BE ACCOMPANIED BY PAYMENT,

It is very important for those persons liable for the Emergency Unemployment Tax of one penny in every six shillings and eight pence of income other than salary or wages to remember that simultaneously with the handing in of the declaration they are required to pay the amount of the tax in respect of onethird of the income derived during the year ended 31st March, 1931. Many people have forwarded declarations without 'enclosing the amount of the tax due, apparently in the belief that subsequently a demand would be made as is doiie in the case of income tax ; this, however,, is not the case. (No demand will be made, and if payment is not arranged within one month of due date a penalty of 10 per cent, will be incurred. In order, therefore, that the penalty may he avoided, it is advisable that all amounts not sent in with the declarations be remitted without delay. There appears to be some miscon- | ception concerning the form issued by the Unemployment Board for the guidance of farmers in making a return of income in connection with the unemployment relief tax.

It is desired to emphasize that the .object of issuing this form was to provide farmers with a 'simple method of preparing a balance sheet, so that when they Went to a post office to declare their income they could supplj the actual figures of their profit and loss account for the year. It fs not necessary that this form, when completed, should be handed in at the post office, but the declaration must be completed in every case. Quite a number of the iforms have already been sent in to various post offices, but they cannot be dealt with without the declarations. The declaration must be made and the tax paid at the nearest .Moneyorder office. The declaration must not he posted to the Secretary of the General Post Office at Wellington. When declarations are sent to the Commissioner of Taxes the amount of the Tax

must accompany the declaration in each t " case.

In estimating the value of live-stock and produce on hand and unsold, the current market price should be the guide, and, this may be standardised and used in valuing the stock at both the commencement and the end of the period. Live stock purchased will, of course, be stated at the price paid, and those sold at the price realised. On the expenditure side, rent payable for farm, also rates and insurance, should not include , any- amount applicable only to the dwelling house. If any payments off principal owing have been made they may not be included as expenditure. On the receipts side include under “produce used for private or domestic purposes” the value of all meat, milk, eggs, fruit, vegetables, and other items of a like nature used by the household.