INCOME TAX FORMS.

Mt Benger Mail, 26 April 1933, Page 4

INCOME TAX FORMS.

SOME INNOVATIONS. EXEMPTION FOR WIVES. That annual source of perplexity. the income tax form, is now available at all post offices. The |})33 edition is the usual document of cisi'll 1 foolscap pages, but it hears a more respect.able appearance than heretofore. The worn stereotype plates trom which it used to he printed, and which seemed rather like insult added to injury, have heeii set afresh even those containing no reference to the bachelor tax and si ehlike novel!ies. The imprint shows that 379,900 copies have hi en run off this year. What first strikes the harassed taxpayer's eve is the heading in hold hj. tiers, “Claim for Exemption b\ Marred Man in Respect of Ilis Wife." A little higher up in the section for personal, particulars. he is repaired to state whether he was married or single on Maieh 31. 1933. for tSo purpose ( ,f exemption lie must give “fill! (’lirislian name ot wile who is living with me or is supported by m e. ERE !■’. yd APT Kb’s AND si s. TEX ANTE. C the taxpayer has married in t i:e course o! Ihe \ ear or is a widower or divoret e, lie must state the dale ini which the i veil took place. this is in enable the exemption to be reduced pro rata rl In has not been in a married slate for tin- whole l‘J months. If the wife has had an income 01. i.) 9 or o\.-r in her own rigid from a!! i senieis during tile incoming year, !In tact must aiso be stud d, 1m - i; use if her income exceeds £!!) re I xi mpison is alum i d. llie position is tHat the genera! i xi mp!ion beginning at CJoo and «b creasing to not hmg at has In i n n-diiei ■! iu goO, but a special exempt ion is ‘iTiiiili d to married men under the conditions staled. This e\t mptioii is redue>. d by t! for every 30s by which the income exceeds liiL'o. so that it reduces to notiling at !>OO, The only other change on the iii s* pagi of ! lie form is a requirt - mi,ml that income irom di\'id( mis f'l.m companies trading in New /'calami iitiN be staled in New Xi aland curia ncy, (in tiie second page t here is allot her immvat ion, w Inch, like the bachelor tax, cm a nab s trom “ ! Kami and lueimie lax Aniendli*t in Act, 1932." If !h. taxpa) or recei•,es ipiarters, board, or s. s'l jiance allowance liom bis employer in addition to his salary or wages, he is required to include their estimated value in ids in-i coine. Such bs m-tils formerly v. • is im! av.ailabie, and tile idea ol Imliog tin m has probably sj rung i rum like provisions in the mu mpioyiio lit tax legislation. STAMP l'l l'\ UN HUMS. Aimther m w item is “ income fioni dividends received from compaiiii s or concerns the head oil ice of which is outside the Brbish Empire.” This income has all along In mi taxable, since having ail. ad) been taxed in any British country, but it has been thought wise to include t lie item specific- t a!i\ instead of allowing it to re- i main in the form “from any other si u rce, eai gory. Two i lit ries are required in dealing wit hj the exempt ion on ac- 1 fount of tile 10 pel- cent, stamp : inty charged upon interest on i m n-tax-frec (luvernmeuL bonds! ■ml local body S( cnritics. The I full amount ot ini’, rest must In .•nteivd in the return of gross in Mine am! tin,- amount of stamj .hi! v in t he special exemptions sec .ion. The reason for tiiis is that special income tax exemptions «b ml apply to uin-injilomciit tax, ioi ike purposes of which the bondholder is rather unfairly called upon to pay tax on the paper value of a dividend ut which lu; n eeived only 90 per cent,