UNEMPLOYMENT

Rotorua Morning Post, Volume 1, Issue 50, 21 October 1931, Page 4

UNEMPLOYMENT

ASSESSMENT DUE PAYMENT ON ALL INCOME APART FROM SALARY WAGES NOVEMBER INSTALMENT On the first of next month, the initial instalment of the retrospective imemployment tax on last year's in~ come will fall due. This assessment will be levied upon two thirds of all ineome received ! from any source other than salary or j wages as from March 31, 1930, to March 31, 1931. On all income com- j ing within the assessment, a tax of 3d in the £ is payable and is to be paid in two instalments. The first of these falls due in November and the second during February of next year, when taxpayers will be expected to | discharge their liability without pre- ? vious notiee or warning. The two J instalments are to be paid during the J months named although at the discretion of the payee ,they may be paid I in one lump sum in November. Income derived from the following sources will be liable to this retrospective tax: — Moneys received from any profession or business (including farming) but not classed as salary or wages; interest (including that derived from tax-free war loans and debentures); company dividends; rents and royalties; dividends or profits from any building society; pensions, annuities, superannuation, and retiring allowances. In addition to these assessments, a similar charge will also be made in respect of one third of all income other than salary or wages, received during the year ending March 31, 1932. This assessment will fall due during May, 1932. Special forms for the declaration of income coming within the scope of the assessment are to be obtained at all post offices. Taxpayers are given the option of supplying the required details on the filled in form direct to a money order office in their district, or, if they do not desire ro disclose their income in this way, they may deal direct with the Commissioner of Taxes, Wellington. In the latter case a separate form is provided. The assessments apply to all pert?ons deriving income from any of the sources mentioned above and include jill women whose income is not less than £250 per annum. For the purposes of computing the tax, it can be calculated at the rate of one penny for each pound of income. For instance a person paying on £200 would pay 200 pence or 16s 8d at each assessment.