LEVY ON INCOMES
EXAMPLES OF NEW RATES As an indication of the effect on personal assessments of these new rates, the Minister quoted the following examples of the amount of > tax payable last year and this year respectively upon representative taxable balances, by which is meant the taxpayer’s income less the standard exemptions allowed.
This means that a single man with an income of £3OO will pay £l4 7s 6d income tax. A married man without children with an income of £350 would pay a like amount, and a married man with a wife and one child would pay a similar sum on an income of £4OO.
Income tax. Taxable New balance. Last year. proposals. £ £ s. d. £ s. d. 100 11 19 7 14 7 6 500 , 69 9 7 86 5 0 1000 162 18 4 208 8 9 2000 421 13 4 560 12 6 5000 1772 18 4 2384 16 3
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Bibliographic details
Otago Daily Times, Issue 24336, 28 June 1940, Page 9
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154LEVY ON INCOMES Otago Daily Times, Issue 24336, 28 June 1940, Page 9
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