THIS YEARS INCOME TAX SCALE.

Auckland Star, Volume LXVI, Issue 230, 28 September 1935, Page 19

THIS YEARS INCOME TAX SCALE.

A Ready Guide for the Taxpayer.

When the annual Land and Income Tax Bill was introduced by GovernorGeneral's Message in Parliament on Wednesday, Mr. D. G. Sullivan (Labour, Avon) said he supposed the provisions were unaltered, and the Minister of Finance, Mr. Coates, nodded his agreement.

This leaves taxpayers not much the wiser, hut the following schedule shows the exact amount of income tax on various incomes. It has been compiled on the assumption that the income shown is assessable income as distinct from company dividends and free of tax interest, and the tax would be slightly less if the taxpayer paid unemployment tax, life insurance premiums and obtained exemptions for children under 18, etc.

Tlic full list of claims for special exemption includes life insurance premiums paid 011 the taxpayer's life; payments to superannuation fund, National Provident fund, or the insurance fund of a friendly society; the amount paid in unemployment relief tax; £50 in respect of each child of the taxpayer under the age of 18, or dependent upon him because of permanent mental or physical infirmity; any amount contributed to the support of a widowed mother (but not including any amount paid by way of board and lodging) ; and the amount paid as interest tax on Government securities.

SCALES OF INCOME TAX. Assessable Exemp- Individuals. Companies. Income. tion. Earned. Unearned. No exemption £ £ £ s. d. £ s. d. £ s. d. 260 210 1 IT 11 2 10 G 0 17 2 300 107 3 18 1 5-1 1 11 7 G :;r.O ISO 6 S 11 8 11 10 14 4 4 400 164 8 18 11 11 18 0 17 6 8 450 147 11 10 9 14 • 7 8 20 14 4 300 130 1.5 8 7 20 11 si 24 < < (iOO 84 27 5 3 lis"! 1." 10 32 10 0 700 17 43 7 10 si 6 14 10 41 14 2 800 — 57 0 0 74 6 8 52 0 0 flOO 70 1 10 01 4 8 63 S 6 1000 — 84 3 4 100 8 10 75 16 S 1250 — 124 4 4 161 9 1 111 14 4 1500 — 171 1 10 222 11 4 154 8 C 2000 271 0 2 353 12 2 246 0 2 0500 — 392 3 9 511 16 1 358 17 1 3000 533 4 7 697 1 8 491 11 3 4000 — 870 16 8 1141 13 4 812 10 0 .■3000 1226 0 10 1609 14 5 1151 0 10 0000 — 1627 5 10 2139 3 4 1535 12 6 7000 — 1994 13 9 2623 9 5 18S6 7 1 S000 — 2389 3 4 31451 17 9 2264 3 4 9000 — 2774 3 4 3651 13 4 2632 10 0 10 000 — 3083 6 S 405S 6 S 2925 0 0 12 500 — 3856 5 0 5075 0 0 3656 5 0 J 5 000 — 4629 3 4 6091 13 4 4387 10 0 20 000 — 0175 0 0 8125 0 0 5850 0 0 ''5 000 — 7720 16 S 10,158 6 8 7312 10 0 30000 — 9266 13 4 12,191 13 4 8775 0 0 40 000 — 12,358 6 8 16,258 6 S 11,700 0 0 -.o'ooo — '15,450 0 0 20,325 0 0 14,625 0 0 75,000 — 23479 3 4 30,491 13 4 21,937 10 0