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SAVING FOR TAXES
Premier Favors Special
Accounts
System Explained
The Premier (Mr. Hill) slated
on Friday that he wished to im- <*>
press on those taxpayers who would
not be in a position to pay their
taxation in a lamp sum the ad
vantages to be gained from open
ing a special |Hii|we? account at
the State Savings Bank.
These accounts, said the Premier,
could be opened at any branch or
agency of the bank, or at any factory,
business house. &c where a sufficient
number of persons was employed to
warrant the collection of deposits by
officers of the bank, Strong boxes1
were already installed at 383 establish
ments in the metropolitan area. De
posits at branches or agencies were
made hi a bli^ht yn^inpr to those on
ordinary accounts, but the depositors
were supplied with special passbooks.
Interest was paid on special purpose
accounts at the same rates as on
ordinary savings accounts, and with
drawals would be permitted when the
taxes fell due or as agreed upon with
the bank. An tntanritng depositor,
having calculated the ftirimrnt of the
tax he expected to pay, would sign a
card on which it was stated the mini
mum sum he wished to deposit, how
frequently, and for how long. The
Savings Banks would be pleased to
give any further information at the
head omce or at any of their branches
regarding fills matter.
"The money will be banked weekly,
or fortnightly, in a small amount," said
Mr. Hill, "and will not prove such a
severe drain an the taxpayer's finan
cial resources. In addition. Interest
will be received. A scheme such as
this should be particularly suitable for
persons working on a wage or salary."
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