SHOCK FOR TAXPAYERS
(Press. A$sp.-
INGOME ASSESSMENTS FOUR MILLION RECEIVE DEMANDS IN " BRITAIN HUGE SUM REQUIRED
— By Telegraph— -Copyright).
Rec. No.Y. 25, 11.0 p.m. LONDON, Wednesday. Four million people received a shock this week on the arrival of their income tax assessme.nts. Two million of these are new taxpayer^ whose small inco.mes had hitherto escaped the levy. . . An u,pprecedented drive is herqg inapgurated to collect as much as possible hy J^nuayy in order to saye inter.est on Governme.nt bbrrpwing. The public thoroughly understands the necessities of the situation and is anxious to support the Government, but the demands have caused a crisis in thousands of homes and businesses. Certainly the result will be the quietest Christmas on record. Between now 'and the end of March £259,750,000 must be collected, of which £205,000,000 is income tax and £54,750,000 surtax. The withdrawal from circulation of sueh lqrge sums will inevitahly involye prolonged suspension of spending. The newspapers' city editors have expressed the opinion that the demands have already heen the cause of a large number of selling orders for the purpose of meeting obliga,tions.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 81, 26 November 1931, Page 5
Word Count
182SHOCK FOR TAXPAYERS Rotorua Morning Post, Volume 1, Issue 81, 26 November 1931, Page 5
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