Slightly higher tax rebates for some

Press, Volume CXV, Issue 33775, 22 February 1975, Page 14

Slightly higher tax rebates for some

Some people might get slightly larger rebates when they submit their tax returns in April. The size of the rebate will depend on the support they have given this year to relatives — an amount not calculated in their weekly tax deductions.

Instead of an allowance of; isl3s against their income; ‘ for the support of a dependent relative, taxpayers will' be entitled to deduct $6Ol when calculating their tax. ! The $6O deduction will! j apply only to those who pay ! $l5O towards the care of re-! natives. Those paying less; may calculate the ■'• ' ction; at the rate of 40c in the dollar. The care - of - relatives ' deduction was included in ! the change to personal < rebates instead of personal' s exemptions at the beginning iof the financial year. The I new system gives everyone j: ! a rebate of $125 instead of a; i i personal exemption of $275 i: ; and an allowance of $275 for il I a wife. I The amount of benefit;

from the change has been : distributed to the taxpayer • each week, and has been! insufficient in most cases to' ibe noticeable. The self-employed, who 'have yet to take the personal rebate for themselves! and their wives into! account, will find that they are liable to pay less tax, !unless their incomes exceed $12,000, in which case they, will lose about $12.50 a; year. Those on the other end' of thr pay scale have gamed about $42 a year. The District Commissioner! of Taxes (Mr C. K. Jones) said yesterday that generally those on incomes below $5OOO had gained a little ;from the change, and those on more than SSOCO had lost a little.