P.A.Y.E.

Below is a letter from the Deputy Commissioner of Inland Revenue, Mr J. E. Curran, regarding the taxation of university students' vacation earnings, which will be of much interest to students.

"The Minister of Finance, in a recent announcement, outlined proposed new legislation designed to adjust the P.A.Y.E. tax in cases where the earnings are irregular during the year or are concentrated into a short period.

"This has rendered unnecessary the present arrangement to adjust the income tax on vacation earnings of a full-time university student after the end of the income year.

"Any student who considers that he is entitled to a refund of tax should make a return of income on the Individual Return—Short (I. R. 5) and forward it to this Department, together with his copies of the tax deduction certificates supplied by his employer. Any additional requirements will be publicised when details are known to the Department."

Contrary to the requirement mentioned in a previous article in Salient, certificates that students have enrolled for full-time classes are no longer required.