SALES TAX YIELD

Wanganui Chronicle, Volume 83, Issue 165, 15 July 1939, Page 15

SALES TAX YIELD

HIGHER MAY RECEIPTS. RETURNS STILL BUOYANT. In spite of the lower volume of imports during the first months of this year, sales tax returns have been remarkably buoyant. Collections in May amounted to £310,040, a decrease of £557 on the total for April, but an increase - of £36,953 on the figure for May. 1938. From about April onward sales tax receipts generally tend to decline after the Christmas trading, but the trend has not developed to any marked extent so far this year. The monthly yield of the tax in the past two years is as follows:

i The amount collected in the first i five months of this year was £1,520,122, as compared with £1,391,181 for the I corresponding period of 1938 an in- | crease of over 9 per rent. As certain i necessities are exempt from the tax, i its growth is a reflection of the greater : purchase of goods outside the necessity class. The reduction in imports ' owing to th-e restriction policy of the i Government should be noticeable later ; in the year.

193b J 9. > < June 285,738 283.094 July 295.664 278,968 August ... . 237.519 301,002 September .. 296.020 300,714 October 308.579 November .... 304.381 307 24 December 329.356 311,047 1939 1938 January 330.294'. 317.59S February 254.484 230,525 March 314.707 277.690 April 310.597 292,281 May . 310.040 * Record. 273.087