TAXATION YIELD

Hokitika Guardian, 10 July 1935, Page 6

TAXATION YIELD

LA ROE FIGURE PER HEAD REVENUE IN 1934-35 YEAR. The .aggregate yield from taxation in New Zealand during the financial year ended March 3i, was the highest ever recorded and the taxation revenue per head of population was the highest for any year except 1920-21, according to the latest Abstract of Statistics.

The total yield and the yield per head in 1920-21 and in the last five years were as follows: Total Per head £ ' £ s d

1934-35 ... 24,737,939 15 18 7 The Abstract states:—“The increase in revenue from taxation in 1934-35 over the previous year reflects th* improved state of business, there having ■been no increase in tax-assessment rates except in a lew minor instance? Actually, in two important fields—customs and unemployment taxation—there have been definite reductions in the rate and scope of taxation.

“Receipts in respect of customs revenue, sales tax and motor vehicles taxation clearly indicate an improved business position in 1934-35, while in-come-tax receipts, which relate to incomes of the previous year, show that the improvement "dates . from 1933-34, when wool prices were comparatively high and the aggregate value of production was £15,000,000 higher than m 1932-o^ . “An increase in the case of death duties is due mainly to a few particularly large estates having become subject to a duty during the year. Receipts from bank-note duty have declined as the result of the withdrawal of most of the trading, bank-notes from issue consequent on the establishment of the Reserve Bank.”

1920-21 .. . 22,184,414 17 14 4 1930-31 .. . 18.878, 285 12 12 1 1931-3-2 . .. 17,405,622 11 9 6 1932-33 .. . 19,703,703 12 17 P 1933-34 ' 21.4'V>.8'27 111 18 7