WAGES TAX REVENUE.

New Zealand Herald, Volume LXVIII, Issue 20985, 23 September 1931, Page 8

WAGES TAX REVENUE.

FIRST MONTH'S OPERATIONS. TOTAL YIELD OF £50,000. RECEIPTS EXCEED ESTIMATE. [BY TELEGRAPH. —OWN CORRESPONDENT.J x WELLINGTON, Tuesday. Details of the first complete month's operations of the emergency wages tax of 3d in the pound reveal that it is probable that the Prime Minister, Rt. Hon. G. W. Forbes, erred on the side of modesty in his estimate of the yield when the bill was introduced in the House of Representatives. The sale of wages tax stamps in the Dominion during the first month, which commenced on August 1, totalled £32,000. This does not include the amount of wages taxes paid directly into the post office in sums of £5 or more and an additional £IO,OOO was collected in this way, together with the tax on wages and salaries of civil servants. The total yield from stamp sales and all sources was about £50,000 for the month. It is considered that the monthly income will not show a great variation, so that the annual yield from the emergency wages tax should reach about £600,0 X). When the Prime Minister introduced the proposals he estimated a total annual revenue of £480,000. If the present figures are maintained the revenue for the year will exceed the estimate by about £120,000.