asked the Minister for Finance if he will state in respect of the last five financial years the estimated number of individual income tax payers, excluding companies, and the estimated number of surtax payers.
Written Answers. - Income Tax and Surtax.
56.
Material is not yet available on which to base an estimate of the number of individuals liable to income tax or sur-tax for the year 1962-63. The estimated numbers liable for the years 1957-58 to 1961-62 are as follows :—
|
Estimated Number of Income Tax payers |
Estimated Number of Sur-tax payers |
|
|
1957-58 |
195,000 |
10,000 |
|
1958-59 |
210,000 |
5,000 |
|
1959-60 |
220,000 |
5,500 |
|
1960-61 |
220,000 |
4,000 |
|
1961-62 |
250,000 |
4,500 |
57.
asked the Minister for Finance if he will give particulars of income tax and sur-tax yields for 1962-63 in the form of a reply of 4th April, 1962.
Following is the information:
|
Year |
Estimate of increase or decrease in yield if rates in force in the year* had been varied by 10 per cent. either way |
|||
|
(a) Income Tax |
(b) Sur-tax |
|||
|
First year |
Full year |
First year |
Full year |
|
|
£000's |
£000's |
£ |
£ |
|
|
1962-63 |
2,700 |
3,400 |
90,000 |
200,000 |
*Sur-tax assessed for 1962-63 is in the normal course payable on the 1st January, 1964, and does not, therefore, affect the yield for 1962-63. It is presumed that in this case the reference to an increase or reduction in the rates charged in 1962-63 is to be taken as a reference to the rates charged in respect of the previous year, i.e., 1961-62, the sur-tax for which is payable on the 1st January, 1963, (i.e., in 1962-63).
NOTE: Income tax and sur-tax receipts for any year consist of tax payments made in that year in respect of tax due for various years. For example, the Income Tax receipt for 1962-63 consists of income tax paid in respect of (a) the year 1962-63, (b) the year 1961-62 and (c) various earlier years. The sur-tax receipt for 1962-63 consists of sur-tax paid in respect of (a) the year 1961-62, (b) the year 1960-61 and (c) various earlier years.
As regards (b) of the question, it should be noted that there is no significant difference between second year figures and those for a full year.
58.
asked the Minister for Finance the amount that a married man with two children under eleven years of age with no unearned income would have available to spend after paying income tax and surtax at the rates in force for 1962-63, if his earned income was £1,000, £1,500, £2,000, £2,500, £3,000, £4,000 and £5,000, respectively.
The information requested is as follows:—
|
Income (all earned) |
Amount of income left after payment of Income Tax and Sur-tax for 1962-63 |
||
|
£ |
£ |
s. |
d. |
|
1,000 |
963 |
5 |
4 |
|
1,500 |
1,344 |
10 |
4 |
|
2,000 |
1,725 |
15 |
4 |
|
2,500 |
2,067 |
8 |
8 |
|
3,000 |
2,409 |
2 |
0 |
|
4,000 |
2,984 |
3 |
8 |
|
5,000 |
3,542 |
10 |
4 |