asked the Minister for Finance if he will state for 1954-55 and each subsequent financial year the income-tax collected analysed into the following classes (1) salaries and wages, (2) ownership of lands and houses, (3) farming profits, (4) foreign dividends and untaxed interest, (5) professional earnings, (6) individual traders and (7) profits of companies, and in the last case giving both gross tax collected and the amount deducted as repaid to those not liable or non-resident.
Written Answers. - Income-Tax Statistics.
Statistics in relation to income-tax collected are not compiled in such a manner as to enable the information requested by the Deputy to be given. Particulars of the net produce of income-tax under each Schedule are available for the years 1954-55 and 1955-56 and are given in the statement below. The headings specified in the Deputy's question correspond with the following schedules respectively: (1) with Schedule E, (2) with Schedule A, (3) with Schedule B, (4), (5), (6) and (7) together, with Schedules C and D combined.
As certain classes of the income specified under heading (4) are chargeable to income-tax under Schedule C while other classes of that income are chargeable under Schedule D it is not possible to relate heading (4) exclusively to either Schedule. Statistics in relation to the net produce of income-tax are not available in such form to enable separate particulars to be given for the headings (5), (6) and (7) in the Deputy's question.
NET Produce of Income-Tax under each Schedule
|
1954-55 |
1955-56 |
|
|
£ |
£ |
|
|
Schedule A |
1,478,000 |
1,534,000 |
|
Schedule B |
103,000 |
107,000 |
|
Schedule C |
580,000 |
614,000 |
|
Schedule D |
13,467,000 |
14,649,000 |
|
Schedule E |
5,766,000 |
6,048,000 |
|
21,394,000 |
22,952,000 |
Note on the Net Produce of Income-Tax.
The net produce of Income-Tax for any year is the estimated ultimate yield from the tax assessed in that year, whether actually collected in that year or later, after deducting all discharges and remissions and setting off all repayments. Many reliefs (including personal allowances) are allowable against total income but may be set against any part of the income. Moreover, it may be difficult to say to what Schedule a relief which is allowable by repayment against one or other of different sources of taxed income should be allocated. For these various reasons the division of the net produce between the Schedules is, to a slight extent, arbitrary.
asked the Minister for Finance if he will state for the last available year the estimated amount collected in income-tax for the following classes of annual incomes: (1) £241-£300, (2) £301-£350, (3) £351- £400, (4) £401-£500, (5) £501-£600, (6) £601-£700, (7) £701-£800, (8) £801-£1,000, (9) £1,001-£1,200 and (10) £1,201-£1,500, giving in each class the amount collected from (a) earned incomes, (b) unearned incomes and the total.
The information for which the Deputy asks is not available.