PROCEEDS OF TAXATION
THREE YEARS’ FIGURES. The' Abstract of Statistics publishes the returns of revenue from taxation for the financial year ended on March. 31 last with, for purposes of comparison, the figures for the two preceding years, as follows:
Taxation receipts of the Consolidated Fund were nearly £600,000 less in 1932-33 than in 1931-32, but the huge increase in unemployment tax revenue, following the raising of the rale from Id in 6s 8d to Id in la Bd, lias the effect of increasing total taxation receipts by £2,300,000. The amount of £309,132 shown'as stamp duty on interest represents the Government’s proportion of the special duty imposed, by part IV of the National Expenditure Adjustment Act, 1932, on interest received from Government and local body securities domiciled in New Zealand. Though imposed in the form of a tax and its proceeds- treated as such in the public accounts, this duty was, in effect, a temporary means of obtaining some relief from the otherwise fixed expenditure burden for interest on the public debt rather than a means to increase general revenue. It has now been superseded by a debt-conversion plan, under which a similar effect will be achieved by a direct reduction in expenditure.
1931. 1932. 1933. £ C £ Customs revenue 7,005,076 6,904.348 0.131,414 Beer duly .... .. 575,100 041,080 651.227 Motor vehicles faration 1,840,500 1,814.186 1,680.005 Land 1 tax 1,145,017 542,128 408,910 Income tax .. .. 4.003.006 4,447,814 3.550,775 Death duties . .. 1,809,735 1.444,208 1,511,005 Batik composition .. 233,318 260,200 208,122 Stamp duty on Interest i — — 309.132 Duty on Instruments 326.121 228.975 102,179 Totallsator revenue.. 620,143 410,878 302.371 Amusements tax 105,930 74,703 53.504 Other stamps taxation (receipts tax, Im- ■ pressed stamps, etc.) ' 380.533 ’ 378,288 301,050 Unemployment taxation 280,829 1,217.451 4.099,602 Film hire tax ,. .. 41,756 41.207 30.102 . — 38.253 Hold export duty .. — ■ 15,630 Totals ;.>■ .. 18,878,283 17.405,022 10,703,703 £ s. d. £ a. d. £ fl. d. Taxation receipts per head of mean population .. .. .. 12 12 1 U 0 6 12 17 9
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Bibliographic details
Otago Daily Times, Issue 21996, 4 July 1933, Page 5
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320PROCEEDS OF TAXATION Otago Daily Times, Issue 21996, 4 July 1933, Page 5
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