6 MAY
THE NEW ZEALAND GAZETTE
877

Local Authority and Name of Loan
Amount
Consented to
$
Ellesmere County Council: Rolleston Water Supply
Loan 1971
17,000
Marlborough County Council: Riverland Industrial
Development Loan 1971
25,000
New Plymouth City Council: Electricity Depot and
Development Loan 1971
200,000
North Canterbury Electric-Power Board: General
Development Loan 1971
160,000
North Shore Drainage Board: Redemption Loan No.
10, 1971
173,000
Opotiki County Council: Doctors Housing Loan 1971
17,000
Porirua City Council: Titahi Bay Beach Development
Loan 1971
70,000
Rangiora County Council: Woodend Sewerage Com-
pletion Loan 1971
22,000
Riverton Borough Council: Library Building Loan
1970
9,200
Taranaki County Council: Bell Block Urban Drain-
age Area (Storm Water Drainage) Loan 1971
13,040
Wanganui County Council: Bridges Loan No. 6, 1971
60,000
Whangarei County Council: McLeod’s Bay - Tauri-
kura Water Supply Loan 1971
101,000

Dated at Wellington this 3rd day of May 1971.

J. D. LANG, Assistant Secretary to the Treasury.

(T. 40/416/6)

Notice to Make Returns of Income Under the Land and Income Tax Act 1954

PURSUANT to the Land and Income Tax Act 1954, the Commissioner of Inland Revenue gives notice as follows:

1. Returns of income for the year ended 31 March 1971 (or other approved balance date) are required from:

(a) All companies, all partnerships, all persons in business (including farming) or in a profession, all persons in partnership, and all trustees, executors, and administrators, notwithstanding that by reason of a loss being incurred for the year or carried forward from a previous year, no taxation is payable.

(b) Every person whose total income from employment exceeded $2,600.

(c) Every person who derived interest and/or investment or building society dividends over $100 in the aggregate and whose total income (after deducting $100 of that interest and/or investment or building society dividends) exceeded $275.

(d) Every person who derived assessable income other than income from employment and whose total income exceeded $275. Except that no return is required where the total income did not exceed $1,070 and consisted exclusively of Universal Superannuation and/or company dividends.

(e) Every person who paid provisional tax in respect of income for the year ended 31 March 1971.

(f) Every person to whom section 104 of the Land and Income Tax Act 1954 applies. Section 104 relates to aggregate assessments of husbands and wives and in general terms now applies only where—

(i) Income is derived by one spouse under a transfer or settlement of income by the other spouse and the assets producing the income are retained by or can revert to the other spouse.

(ii) Income is diverted from one to the other by permitting the use of assets or by the performance of services.

(g) Every person who received withholding payments. Note however, that a return is not required where a person does not come within any of the classes referred to in (a) to (f) above inclusive and the only withholding payments received were—

(i) Juror’s or witness’s fees, and/or

(ii) Not in excess of $24 in the aggregate and consisting of one or more of the following classes: Honoraria; fees for contributions to newspapers, journals, etc., or for radio or stage presentations; modelling or demonstrating goods or appliances; theatre, stage concert, and radio performances; payments for election-day services.

(h) Every unincorporated body which derived assessable income.

(i) Every absentee who derived income from New Zealand.

(j) Trustees of superannuation funds.

2. Returns are required to be furnished by posting or delivering the same to the office of the Inland Revenue Department nearest to the place of residence of the taxpayer, or if the taxpayer’s records are held in another office of the Department, then to the latter office.

3. Returns are due on:

(a) 7 June 1971 when income was derived from salary, wages, superannuation (not Universal), pensions, taxable allowances, etc., and—

(i) No other income whatsoever was derived, or

(ii) The other income derived consisted exclusively of not more than $200 in total from dividends, net rents, interest (after $100 exemption).

(b) 7 August 1971 in all other cases or within 2 months of balance date, whichever is the later. No action for failure to furnish a return due on 7 August 1971 will be taken if it is furnished by 7 September 1971.

The return to be used is IR 5 (green print) in the case of paragraph 3 (a) above. The IR 3 return should be used in all other cases.

In addition to IR 3, farmers are to complete supplementary return IR 3F and persons in business or in a profession are to complete supplementary return IR 3B. Companies are to use IR 4, estates and trusts IR 5A, and superannuation funds IR 44. Each form indicates the classes of taxpayers who are to use that form and, where applicable, the due dates for payment of provisional tax. Generally, the first instalment of provisional tax must accompany the return when furnished and is due on 7 August 1971. It must be paid on or before 7 September 1971 in order to avoid the 10 percent additional tax for late payment. The second instalment is, in general, due on 7 February 1972 with a 10 percent additional tax if not paid by 7 March 1972. In some cases a third instalment is, in general, due on 7 May 1972 with a 10 percent additional tax if not paid by 7 June 1972. Taxpayers who are not required to furnish (and do not furnish) a final return by the expiration of 1 month after the due date for payment of the first instalment of provisional tax, are required to furnish an interim return IR 5B unless they have been otherwise advised. This return is to be furnished not later than 1 month after the due date for payment of the first instalment of provisional tax. Fuller details are given in the interim return form.

4. All return forms are available at district offices of the Inland Revenue Department, and forms other than interim return forms, are also available at post offices. Company returns are available at post offices in urban areas with a population of 5,000 or more not having an Inland Revenue District Office.

5. Any person or company failing to furnish a return within the prescribed time is liable to a fine not exceeding $200 and not less than $4.

6. Any person who is not required under paragraph 1 to furnish a return and who has derived income from employment may elect to furnish a return using IR 5 if he requires an adjustment:

(a) Because he paid life insurance premiums.

(b) Because he considers that tax deductions made from his income were excessive.

(c) Because he was entitled to exemptions which were not included in his tax code during the year.

(d) Because he is entitled to deductions from income.

7. Any person furnishing a return of income who derived income taxed at time of payment should securely attach all tax deduction certificates (IR 12, IR 13, or IR 55) to the return form.

Dated at Wellington this 14th day of April 1971.

D. A. STEVENS, Commissioner of Inland Revenue.

Tariff and Development Board Notice No. 222—Deferred Public Inquiry into Continuous Filament Polyester Yarn of Tariff Items 51.01.43, 51.01.44, and 51.01.45

1. The Tariff and Development Board has acceded to a request by the Minister of Customs to defer the above public inquiry which was to have commenced on Thursday, 6 May 1971 (Notice No. 202, New Zealand Gazette, dated Thursday, 18 February 1971).

2. The new dates to be fixed for this public inquiry and for the lodging of submissions will be notified at a later date.

Dated at Wellington this 4th day of May 1971.

O. A. BLACK,
Secretary, Tariff and Development Board.

P.O. Box 5070, Wellington.

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