Taxation
Sir,—ln reply to a letter regarding tax scales (July 11), Margaret Shields states that income under $9500 attracts tax of 15c in the dollar. Can she explain why the 1989 I.R.D. tax guide commences its calculations thus: Income $1 - $9499, tax payable 19.5 c for each dollar? Her other quotes also do not agree with the tax guide.—Yours, etc., J. DYER. July 11, 1989. [The Minister of Social Welfare, Dr Cullen, replies: "In the earlier response, signed in my absence by the Hon. Margaret Shields, information was relayed regarding the current tax rates. Your reader may recall that these rates were introduced from October, 1988. Therefore, the Inland Revenue tax guide for the financial year ended March 31, 1989, reflects the composite tax rates necessary for the transitional tax year. This was explained in a leaflet issued by the Inland Revenue Department after the October tax changes. The composite rates apply for the year ended March 31, 1989, only and are calculated on an average of the old and new rates.”]
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Press, 27 July 1989, Page 12
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172Taxation Press, 27 July 1989, Page 12
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