SOCIAL SECURITY TAX

Hauraki Plains Gazette, Volume 53, Issue 32424, 28 April 1944, Page 8

SOCIAL SECURITY TAX

FIRST QUARTERLY INSTALMENT

INCOME OTHER THAN SALARY

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 2& 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; All 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 aftei’ the ‘last day for payment of that instalment.

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 2s 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. The combined charge due by a Limited Liability company is payable annually in one sum during February 1945; an assessment, followed by a demand, being issued as in the case of income-tax.

A penalty of 10 per cent, is payable on any amount of the charge hot 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.