REPORT ON THE PROPOSED INCOME TAX.
' {From iJie Wellington Independent) The final report of the Civil Service Commissioners has jußfcboen laid before the Assembly. It is devoted to a consideration of the manner in which an Income Tax might be raised, and suggests that incomes below £200 a year should not be taxed; that incomes of between £200 and £300 a year should pay a rate of 7d. per pound, and incomes above £300, a rate of lOd. per pound. The Commissioners estimate the amount of " practically taxable' income" in .New Zealand at £5,400,000, on which they think a tax amounting to £191,250 could be levied. They further state that an Income Tax Department, with commissioners, surveyors, inspectors, assessors, et hoc genus omne, would be required to collect the impost. The cost of collection is estimated at eight per cent, on the amount got. Of course there is little likelihood that an Income Tax will be proposed this session, but the people of the colony should watch jealously for any further attempts being made to increase the taxation, as this report is suggestive of what may be proposed at a future time.
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Bibliographic details
Colonist, Volume IX, Issue 939, 25 September 1866, Page 3
Word Count
192REPORT ON THE PROPOSED INCOME TAX. Colonist, Volume IX, Issue 939, 25 September 1866, Page 3
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