DOUBLE INCOME TAX
PBOFOSAL OF ROYAL COMMISSION.
tFiion Ouit Own Correspondent.)
LONDON, March 15. The report of the Royal Commission on Income. Tax is nearly ready. The investigations of the commission occupied about 12 months; 50 sittings were held, and 187 witnesses wore examined. The fact that the report has been signed by all the members, after a full inquiry, will (in the words of the Chancellor of tho Exchequer) carry such weight that the strongest reasons will be necessary to warrant anv material departure from their recommendations. The following are given in advance as the moro important changes advocated:— No tax on the unmarried where- the total income does not exceed £150. Exemption from tax on incomes of the married up to £250. This exemption will apply to all incomes. Fifty pounds allowanco for wife abolished. Allowance for children subsequent to the first increased from £25 to £30. Income limit for allowance for dependent relatives abolished. Co-operative dividends to bo taxed. Of particular interest from tho Imperial point of view is the st.ateme.nt that the commission rerommond that within tho Empire a double income tax shall be abolished. The payment of double income tax oh dominion investments horo. or on British investments in the dominions, has long been a burning grievance.
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Otago Daily Times, Issue 17940, 20 May 1920, Page 5
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212DOUBLE INCOME TAX Otago Daily Times, Issue 17940, 20 May 1920, Page 5
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