SOCIAL SECURITY CHARGE ON INCOME

Taupo Times, Volume I, Issue 26, 9 July 1952, Page 8

SOCIAL SECURITY CHARGE ON INCOME

JULY INSTALMENT. — The charge of l/6d. in the £ on income other than salary or wages, derived during the year 1952 is payable in two equal instalments due on Julv 1 and November 1. Declarations of such income should be furnished during the month of July, 1952, accompanied hy payment of at least the first instalment of the charge. If desired the full amount of the charge may be paid in one sum in July, 1952. A late payment penalty of 10% will accrue on all instalments of the charge or portions thereof not paid within one month of the respeetive due dates. Declaration forms, L.I.T. 5, containing* particulars of persons liable for the charge, together with full instructions and information, are available at all money order offices and at any office of the Land and Income Tax Department. Companies ancl other corporate bodies are required to pay the full year's charge within one month from February 3, 1953. WAGE TAX.— All employers of labour are notified that severe penalties are provided for failure to deduct and account for wages tax (l/6d. 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 subjecU* 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. (818)