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Hauraki Plains Gazette, Volume 52, Issue 3257, 30 April 1943, Page 7

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SOCIAL SECURITY TAX DECLARATION OF INCOME PROCEDURE FOR COMPANIES In this issue appears an intimation from the Commissioner of Taxes in connection with the obligations of taxpayers in regard to the Registration Fee, the furnishing of declarations of income other than salary or wages and the payment of the May instalment of the charge thereon at 2s 6d in the pound.

All male and: female persons, including Natives, sixteen years of age or over, must pay the Registration Fee or establish a right to exemption in respect of each instalment. Ail persons entitled to exemption, including persons in receipt of an age benefit from' the 'Social Security Fund and who are not in receipt of any other income, are reminded that they may be held liable for payment of the instalment unless a claim for exemption is completed and presented together with the coupon-book at a money order office within seven days after the last day for payment of that instalment. Liable For Fine Failure to pay renders defaulters liable, on summary conviction, to a fine of £5 . In addition, a penalty of sixpence per month with a maximum penalty of 2s 6d for each instalment automatically accrues if payment is not made within one month of the due date. All persons who are in receipt of monetary benefits under the Social Security Act, 1938, other than sickness and unemployment benefits, and all persons entitled to payments under the War Pensions Act, must produce their coupon-book when claiming the instalment payable in the month of June.

All male and female persons (including Natives), sixteen years of age or over, and trustees are required, during the month of May, to furnish declarations of income other than salary or wages derived during the year ended ' March 31, 1943, and to pay the first quarterly instalment of Social Security Charge and National Security Tax at the rate of 2 s 6d in the £on such income. Trustees are liable on all income derived by an •estate or trust, whether or not the beneficiaries- are entitled to receive such income during the income year. A special form is provided for the purpose of declarations by trustees. Penalty Of Ten Per Cent. A penalty of 10' per cent, is payable on any amount of the charge not paid within one month of the due date. Income other than salary or wages derived by a person in receipt of a war pension in respect of total disablement through service in the 1914-19 war is exempt from the Social Security -Charge. Monetary benefits- from the Social Security Fund are also exempt.

The notice draws attention to an. important change in the procedure to be followed -by companies or corporate bodies. -Declarations of income are no longer required and companies will be assessed foi* Social Security Charge and National Security Tax on the -basis' of the return of income furnished for income-tax purposes. The combined charge will be payable in one sum instead of by quarterly instalments as hitherto. The due date for payment will be fixed by Order-in-Council and demands will be issued in the same manner as- for income-tax.