INCOME TAX PAYMENTS.
REDUCTION OF PENALTY. By Telegraph.—Press Association. Wellington, Feb. 25. Mr. Massey states that the Government is eery anxious t« assist in avoiding hardship to taxpayers, but it is impossible without very seriously interfering with the Dominion finances, to give, effect to the suggestion that half the in-come-tax be paid in the next financial year. He has arranged that a reduction in the penalty tax which was provided for by last session’s Land and Income Tax Amendment Act shall apply to payments pow being made. A person failing to pay the tax on Monday would have f> instead of 10 per cent added; if he failed to pay within three months of the due date (February 7) he would have 7} per cent, added; if he failed to pay within six months of the due date he would have 10 per cent, added./He would have just short of six months to pay the tax at a cost of 7A per cent, of the amount of the tax. Endorsement by the bank 11b not now essential.
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Taranaki Daily News, 26 February 1921, Page 4
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177INCOME TAX PAYMENTS. Taranaki Daily News, 26 February 1921, Page 4
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