RELIEF TAXATION

Hokitika Guardian, 17 June 1933, Page 5

RELIEF TAXATION

EXCEEDS THAT OF INCOME. BOARD’S FINANCIAL STATEMENT. (Per Press Association—Copyright). . ‘WELLINGTON, June 15. Unemployment relief taxation now exceedg the total derived from income tax. The ireoeiipts from income tax for the year ended (March 31 last were £3,556,774, but the balance sheet of the Unemployment Fund shows a net -revenue for the year well in excess . 01 that large total. The details are as fallows:—* £ Unemployment levy ... 429.003 Emergency charge ... 3,591,432 Fine*? £OB Interest on investments 2,67.') Loan repayments ... 3,240 Interest on loans ... £-2 Donation., ... 6 Total £4,027,999 •Shillings and pence are excluded from the above details, which make a total net revenue for the year of £4,027,999. Added to this was £134.966 brought forward from the previous year, making a grand cot-ail of £4,212,967 as the year’s resources of the Unemploy rent Board. Compare 1 with the previous yef.r’g receipts under different condition? 'of taxation, these figures show a vise of £1,773,766 in spite of the fact that last year, following the heavy increase in the emergency unemployment levy, the original subsidy from the general revenue was withdrawn.

This item, which had come from ordinary taxation receipts amounted in the year ended March 31, 1932, to £1,118,753, but the increase in the emergency levy of Is in the £ enabled the fund to stand tile loss of the subsidy and to make a substantially better showing for last year. The principal Uem a of expenditure last yeare are set out as follows ; £

Administration 100,642 Relief work grants ... 3.594,636 21,633 Loans ’ Food,- clothing, etc. ... 53,666 Sustenance grants ... 12,960 There is an investment account in which credit of £IOO.OOO -appears, and this, with a cash balance., of £324,445 mad-** up a total on March 31 last of £244,426. The cash balances at the cud -of tlm previous year amounted to £184,966. *“vc accounts show that the Board pst year expended in g '-ants for relief work ‘ £1,394,091 more than in the previous year.