HEAVY TAXATION

Otago Daily Times, Issue 26847, 11 August 1948, Page 4

HEAVY TAXATION

OVER £67 A HEAD LAST YEAR New Zealanders paid £67 9s 2d a head in taxation in the year ended March last, compared with £63 16s 2d a head in the previous year and £6/ 4s a head in 1946; the last year in which war taxation was levied. The total amount collected was £122,275,911. an increase of £9.156,865 over that of the previous year and over three times the total for 1938-39. Of the total revenue from taxes. £63,581,244. or £35 Is 7d a head, was obtained from direct taxes on income, including the social security charge. This was equal to 52 per cent, of the total amount collected, compared with 56.5 per cent, in the previous year. Following is a summary of taxation received over the last 10 years:—

In the last financial year substantial increases were recorded for each of the three principal headings of taxation. Customs duties showed an increase of £8,671,898, to £24,390,881, or 55.2 per cent, over the previous year, as a result of the exceptionally high level of imports during the year. Income tax, which reached £36,632,581. or less than £1,000,000 under the total revenue - from all forms of taxation collected in 1938-39. was £4,547,524. or 14.2 per cent., higher than the 1946-47 total, and the social security receipts, with an increase of £3,792,750, or 16.9 per cent., rose to £26,176,758. nearly five times greater than the 1938-39 figure. The yield from sales tax was £15.945,813, against £15,550,547. an increased figure, in spite of reductions on foodstuffs during the year.

1938-39 Direct taxes £ million .. 37.8 Total taxes Av'ge a head. £ s. d. 23 9 2 1939-40 • • . • .. 44.5 27 5 2 1940-41 .. 61.4 37 10 0 1941-42 .. 68.1 41 16 2 1942-43 • • • • .. 88.0 53 12 4' 1943-44 .. 100.8 61 11 7 1944-45 ,, . . .. 108.7 65 5 10 1945-46 .. 115.0 67 3 9 1946-47 .. 113.1 63 16 2 1947-48 . . 122.3 67 9 2