INCOME TAX ON ANNUITIES.
TO THE EDITOR. Sir, —A circular issued by the Government Life Insurance Office with its last bonus certificate points out tho advantages of buying an annuity from the office. I think it should bo known to intending purchasers that such an annuity, if, with other income it will bring them u dor the income tax, is doubly taxed, first with the ordinary income tax and next with a surtax of 33 1-3 per cent., as “unearned” income. Pensions from tho National Provident and other funds arc similarly taxed if they come within tho taxable balance.—l am, etc., Victim. June 15.
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https://paperspast.natlib.govt.nz/newspapers/ESD19320616.2.96.3
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Evening Star, Issue 21130, 16 June 1932, Page 11
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104INCOME TAX ON ANNUITIES. Evening Star, Issue 21130, 16 June 1932, Page 11
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