INCOME TAX KEVELATIONS

Ashburton Guardian, Volume VII, Issue 1689, 17 October 1887, Page 3

INCOME TAX KEVELATIONS

How heavily the depresaion of trade is telling on some income tax payers appears clearly from the lately published report of the Inland Revenue Commissioners The figures relating to schedule D for the year 1885-86 show that incomes derived from trades and professions wore assessed at upward of three-and a half millions less than m tbe previous year, or a decrease of 2.36 percent for England alone. The county of Lancaster and tbe City of London Bhow decreases of over a million each, and Middlesex exclusive of the city of half a million. The heaviest decrease of all ia m the case of incomes derived from ironworks, which are 22 per cent lees, and nor much more than half the figures for 1883 84. In Scothnd the fall m incomes from trades and professions is as much as 5 per cent ; but m most other respects Scotland has not Buffered severely. As a rule the Income from foreign securities shows general .increases for Great Britain and Iceland. Even now the rate of income tax is 7d m the pound; and tbe facts quoted Bhow how much reason there was for Mr Gosoheu'i remittance cf Id m the current year's Budget.