INCREASES UNDER NEW INCOME TAX.
j| A COMPARISON WITH THE OLD SCALE. [ - READY GUIDE FOR THE TAXPAYER. . The table below affords the taxpayer an opportunity of seeing at a glance what he will have to pay in income tax on his current year's income in comparison with the old scale. The amounts are calculated on the graded scales at which the rising incomes are taxed, no account being taken of any exemptions apart from the general initial exemption of £210. The full list of claims for special exemption includes life insurance premiums paid on the taxpayer's life; payments to superannuation fund, National Provident fund, or the insurance fund of a friendly society; £50 in respect of the wife and £50 for 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. The amount deductable for unemployment relief tax under the old scale has, however, been abolished. The tables also show the amounts paid by companies under the old and new scales re:\^ectively.
INDIVIDUAL TAXATION. COMPANY TAXATION. Total Taxable EARNED. UNEARNED Taxable income. balance. Okl scale. New scale. Old scale. New scale, amount. Old scale NpwscIp 2<|0 » 50 1 17 11 4 5 5 2 10 0 5 13 10 ,200 0 17 2 15 1G 4 300 90 3 18 1 7 10 9 5 4 1 10 9 0 300 11 7 G 20 0 0 350 140 0 8 11 12 9 8 8 11 10 22 19 4 350 14 4 4 99 19 l 190 8 18 11 17 0 9 11 18 0 23 2 4 400 17 0 S 20 13 4 400 240 11 10 9 22 8 0 14 7 S 29 17 4 450 20 14 4 30 IS ci 500 290 * 15 8 7 27 13 5 20 11 5 30 17 10 500 24 7 0 35 \ A 000 390 27 5 3 38 10 9 35 15 10 51 15 8 000 32 10 0 45 0 0 TOO 490 43 7 10 50 10 9 50 14 10 07 15 8 700 41 14 9 o V 800 590 57 0 0 03 13 5 74 0 S 90 0 1 800 52 0 0 fir, A 4 90" 090 70 1 10 77 0 9 91 4 8 103 2 4 900 83 0 8 78 0 1000 790 84 3 4 91 10 9 109 8 10 122 9 0 1000 . . 75 10 8 91 13 4 1250 1040 124 4 4 131 14 S 101 9 1 175 12 10 1250 111 14 4 197 19 1 1500 1290 171 1 10 170 10 9 222 11 4 235 15 8 1500 154 8 0 ICS 15 0 2000 1790 271 9 2 282 13 5 353 12 2 370 17 10 2000 240 9 2 200 13 1 . 2500 2290 392 3 9 409 0 9 511 10 1 545 15 8 2500 358 17 1 385 8 4 3000 2790 533 4 7 550 10 9 097 1 8 742 9 0 3000 491 11 3 575 0 0 4000 3790 870 0 8 914 0 9 1141 13 4 1219 2 4 4000 812 10 0 86? 10 0 5000 4790 1220 0 10 1355 3 5 1009 14 5 1800 17 11 5000 1151 0 10 1975 0 0 -0 5290 1423 19 2 1000 10 9 1870 Hi 8 2142 9 0 5500 1340 12 0 1535 8 4 .—2*10 5500 1511 2 4 171S 15 0 1985 17 0 2291 13 4 5710 1424 5 8 10*7 7 0 k ooio 0400 1848 3 0 2100 0 0 2430 5 9 2880 0 0 0010 1740 G 10 2048 2 0 7510 7300 2192 9 8 2it40 5 0 2884 7 4 3528 0 8 7510 2075 13 0 2515 17 0 8410 8200 2558 14 0 3177 10 0 3307 13 9 4230 13 4 S410 2420 17 10 19 0 9100 / S950 2S23 12 .8 ■ 3054 11 8 3710 14 S 4S72 15 7 9100 2079 0 0 3935 0 0
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Bibliographic details
Auckland Star, Volume LXVII, Issue 184, 5 August 1936, Page 8
Word Count
728INCREASES UNDER NEW INCOME TAX. Auckland Star, Volume LXVII, Issue 184, 5 August 1936, Page 8
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