TAX ON UNEARNED INCOME
Sir, —This tax was imposed with the object of reducing the incomes of other taxpayers when wages were reduced. This original reason for the tax was removed when wages were increased, and the tax should have been removed then. Actually, instead of being removed it has been increased from 33 1-3 per cent, to 44 2-5 per cent. This is not generally appreciated, but occurs •as follows:—Tax on "unearned" income £100, add 33 1-3 per cent, additional tax £33 6s Bd— £133 6s Bd. Add 33 1-3 per cent, war loading on additional tax £11 2s 2d. Total tax on "unearned" £144 8s 10d, which is an increase of 44 2-5 per cent. Is this justice or is it merely favouring one section of the community at the expense of another? —I am, etc.,
WORKER,
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https://paperspast.natlib.govt.nz/newspapers/EP19451222.2.21.2
Bibliographic details
Evening Post, Volume CXL, Issue 150, 22 December 1945, Page 6
Word Count
139TAX ON UNEARNED INCOME Evening Post, Volume CXL, Issue 150, 22 December 1945, Page 6
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