BRITISH INCOME TAX.
THE NEW REDUCTIONS. Deductions in British income tax under Mr. Churchill’is Budget may briefly be stated as follows: Reduction in. the- standard rate of tax from 4 s Gd to 4s in the £. Relief to “earned’’ incomes increased from one-tenth to one-sixth Treatment of all income of persons over 65 years of age as “earned' where total income does not- exceed £•500. In the case of married persons tills applies 'if either spouse ns of the age. 'Stated. The following instances will show the reductions more clearly. ft i.s assumed in each ease that a married couple without children, is concerned: ■ — Income Last year's tax This year's tax
£ .300 £ 5 1 3 2 £ 10 0 400 15 3 9 10 16 8 1000 126 11 3 . Oil 3 4
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https://paperspast.natlib.govt.nz/newspapers/HAWST19250611.2.56
Bibliographic details
Hawera Star, Volume XLV, 11 June 1925, Page 6
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132BRITISH INCOME TAX. Hawera Star, Volume XLV, 11 June 1925, Page 6
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