HIS TAX EXCEEDED HIS INCOME

Dominion, Volume 12, Issue 279, 21 August 1919, Page 5

HIS TAX EXCEEDED HIS INCOME

— « PLIGHT OF A BRITISH PEEK. . That a man should pay more money for income tax than the total cf his income seems the limit of taxation. This is eaid to be tho plight of a well-known British Peer, who was born an American and became naturalised in England some venrs ago. His property is in the "United States. Being a British subject, he is compelled by British law to pay income tax oil all his revenues from all sources, and the American law compels payment of income tax on all .his income from American property. Being a multi-millionaire, his income is subject to heavy super-tax by both Governments, and the two taxes are said to amount to more than 100 per cent, of tho jn'ccrae. Thus the unfortunate nobleman must pay out all of his receipts ani dip into his capital to defray current taxes, and, after defraying this first charge, nee more of the capital for living expenses. Tho double income tax of the war period has hit well-to-do Americans who live in Great Britain very hard. In former days very few of tho large colony of American ' business men living in Britaii ever gave up their American citizenship. But many of them have found their draft, on their patriotism too heavy and liavo reluctantly changed their allegiance and taken our naturalisation papers. A-i for those Americns who lived in Britain becauso thoy fouud tho social atmosphere of England more congenial, and the scope for spending money on pleasures greater than at home, most of them seem to have disappeared.