BRITISH BUDGET AND INCOME TAX.
Residents in New Zealand deriving any income from Great Britain will he delighted at the new Budget, as the income tax remissions are very real. Briefly they are as follows: — Reduction in the standard rate of tax from 4s (id to 4s in the C. Relief to “earned'-’ incomes increased from one-tenth to one-sixth. Treatment of all income of the persons over 05 years of age as “earned” where total income does not exceed £SOO. In the ease of married persons this applies if either spouse is of the age stated. The following instances will show the reductions more clearly. It is assumed in each ease that a married icouple with out children is concerned. Last year’s This year’s
Rrima facie it would not appear that in the case of income “earned” in New Zealand the amount of repayment on the British "investment" income would he affected, hut owing to the peculiar nature of tile rebates allowed, extra relict is in fact given to persons not resident in the United Kingdom.
Income tax tax £300 £5 1 3 £2 10 0 400 15 3 0 10 1(5 8 .1000 120 11 3 00 3 4
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https://paperspast.natlib.govt.nz/newspapers/MH19250613.2.2
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Manawatu Herald, Volume XLVII, Issue 2896, 13 June 1925, Page 1
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200BRITISH BUDGET AND INCOME TAX. Manawatu Herald, Volume XLVII, Issue 2896, 13 June 1925, Page 1
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