LEVY ON INCOMES
SHOCK FOR TAXPAYERS BRITISH ASSESSMENTS DISTRIBUTED DRIVE FOR COLLECTION (United Press Assn.—By Telegraph—Copyright.) (Rec. 9.55 p.m.) London, November 25. I'our million people received a shock this week on the arrival of the income tax assessments. Two million of these are new taxpayers whose small incomes hitherto escaped the levy. An unprecedented drive is being inaugurated to collect as much as possible by January in order to save interest on Government borrowings. The public thoroughly understand the necessities of the situation and arc anxious to support the Government, but the demands caused a crisis in thousands of homes and businesses. Certainly the result will be the quietest Christmas on record.
Between now and the end of March £259,750,000 must be collected, of which £205,000,000 is income tax and £54,750,000 surtax. The withdrawal of such huge sums wilt inevitably involve a prolonged suspension of spending. Uity editors express the opinion that the demands are already the cause of a large number of selling orders for the purpose of meeting obligations.
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Southland Times, Issue 21561, 26 November 1931, Page 7
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171LEVY ON INCOMES Southland Times, Issue 21561, 26 November 1931, Page 7
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