SOCIAL SECURITY CHARGE ON INCOME

Lake County Mail, Issue 49, 12 May 1948, Page 1

SOCIAL SECURITY CHARGE ON INCOME

May Instalment. —Persons liable to pay the charge on income other than salary or wages derived during the yehr ended March 31, 1948, are required to furnish a declaration of such income during the month of May. The first instalment of the charge thereon (Is 6d in the £), is due on May 1 and must be paid within one month of that date, otherwise the 10 per cent, penalty for late payment will accrue. Declaration forms L.I.T. 5, containing particulars of persons liable for the charge, together with full instruction* and information, are available at all money order offices and at any office of the Land and Income Tax Department.

Companies and other corporate bodies are required to pay the full year’s charge in one sum in February next.

Wage Tax. —All employers of labours are notified that severe penalties are provided for failure to deduct and account for wages tax (Is fid in the £) in respect of all wages paid to permanent or casual employees whether on a time, piecework or similar basis. Employers are reminded that pay sheets, wages books, and receipts for wages, salaries or other classes of income subject to deduction of the charge at the source, must be retained for a period of not less than 5 years and made available for inspection by any person authorised by the Regulations to inspect books or other documents.—F. G. Oborn, Commissioner of Taxes.