TAXATION REVIEW

Hawke's Bay Herald-Tribune, Issue 204, 14 September 1937, Page 14

TAXATION REVIEW

Pre-Budget Review Shows Substantial Increases COMPARATIVE TABLES "With the Budget, containing particulars of whatever are to be the fiscal obligations of the public, to be brought down in the House of Representatives shortly, the present is an appropriate time to review recent movemcnts in State expenditure, taxation revenue and rates of taxation," says a statement by the Associated Chambers of Commerce of New Zealand. bers of Commerce of New Zealand. "The following tables cover tho main divisions of the subject: — State Expenditure. (Public Works and Unemployment Excluded.) & 1913-14 11,826,000 1929-30 25,200,000 1932.33 22,528,000 1933-34 24,202,000 1931-35 24,499,000 1935-36 25,S90,000 1936-37 30,675,000 Taxation Revenue. (Unemployment Taxes Excluded.) £ j 1913-14 5,918,000 1929-30 19,471,000 1932-33 15,604,000 I 1933-34 ;... 17,057,000 1934-35 20,176,000 1935-36 21,554,000 1936-37 26,941,000 i ». ' Taxes a Head 1936-37. Australia. United . Kingdom. New Zealand. £15 G/ll. £16 12/6. £19 14/10.

"The tables havo been set out in their logical order; increases made in State expenditure were the reasou why taxes were inereased last yeaiv Tho supreme advantage the State has as compared with a private individual is that it does not have to adjust its expenditure to meet its revenue; it is able to fix. its expenditure and tlien arrange for revenue to meet it. The fact which emerges is that if taxation is to be redueed then Government expenditure must come down."

Taxable Income. 1935-36 1936-37. £ £ s. d. £ s. d. . 300 11 7 6 18 15 0 500 24 7 6 35 8 4 700 41 14 2 55 8 4 1,000 75 16 8 91 13 4 2,000 246 9 2 266 13 4 4,000 812 10 0 866 13 4 5,500 1340 12 6 1535 8 4 7,000 1866 7 1 2245 16 8 10,000 2825 0 0 3750 0 0 "

Company Taxation Increases.

Unimproved Value. 1931-35 1936-37. £ £ £ 10,000 41 . 07 15,000 62 141 2'0,000 83 240 30,000 125 616 40,000 ■ 166 895 50,000 208 1250 6 c

Land Tax Increases.

Assess- Income 1936-3G - 1936-37 £ £ b. d. £ a d. 300 Nil. Nil. 400 2 13 10 3 8 0 500 7 11 8 12 9 8 600 15 11 9 22 8 0 700 28 6 3 33 3 0 800 44 0 3 44 14 8 1,000 67 12 0 70 8 0 2,000 ' 238 4 11 248 14 8 5,000 1129 19 11 ,283 14 8 7,000 1874 3 5 2285 5 4 10,000 2956 1 11 3936 6 8

Income Tax Increases. (Married Taxpayer with Two Children.)

N.Z. Tax plus UnemployAssessable U.K. N.Z. ment Income Taxpayer. Taxpayer. Taxes. ? £ £ s. d. £ s. d. £ s. d. 300 Nil. Nil. 11 0 0 400 1 11 8 3 8 0 17 14 8 , 450 • 4 15 0 7 16 9 23 16 9 500 7 18 4 12 9 8 30 3 0 550 11 17 C 17 6 9 36 13 0 COO 21 7 6 22 8 0 43 8 0 800 59 7 6 44 14 8 72 8 0 1,000 97 7 6 70 8 0 104 14 8 5,000 1360 10 0 12S3 14 8 1451 8 0 7,500 2476 15 0 2556 10 4 2807 10 4 10,000 3730 10 0 3936 6 8 4270 13 4

United Kingdom Equivalent. Rates for 1936-37. Earned Income Tax

2,000 3S2 7 6 331 12 10 399 6 2 3,000 681 15 0 680 10 8 781 10 8 4,000 1029 5 0 1140 10 8 1274 17 A 5,000 1431 15 0 1711 12 10 1879 6 2 7,500 2548 0 0 3408 13 9 3659 13 9 10,000 8801 15 0 5248 8 10 5582 15 6

Unearned Income Tax