INCOME TAX SCALE.
PROBABLE EXTRA YIELD. STATEMENT BY FINANCE MINISTER. (By Telegraph. — Parliamentary Reporter.) WELLINGTON, Tuesday. A question from Mr. Atmore, member for Nelson in the House of Representatives this afternoon, elicited from the Minister of Finance an estimate of the amount of extra income tax he expects .from the revision of the "middle" schedules which have been so severely criticised. The Minister remarked that he had intended to deal with the point on the second reading of the Land and Income Tax Amendment Bill during the evening, but he had no objection to giving the information at once. The amount of extra revenue depended, of course, on how the income tax returns came in. Last year the income tax amounted to £3,400,000, and if the same amount of revenue was forthcoming this year, the extra amount collected would be about 5 per cent of the total or between £150,000 and £175,000. He could nt state it accurately, and he wished the figures to be read with the revised Customs tariff.
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Auckland Star, Volume LVIII, Issue 211, 7 September 1927, Page 11
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171INCOME TAX SCALE. Auckland Star, Volume LVIII, Issue 211, 7 September 1927, Page 11
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