asked the Minister for Finance if he will state in the form of a reply of 30th April, 1959, the change in taxation in real terms between 1938/39 and 1959/60, taking into account the proposals outlined in Income Tax, (PR. 5276); and if he will state the various exemption allowances in the form of a reply of 28th May, 1958, having regard to the same proposals.
Written Answers. - Income Tax Changes.
98.
Following is the information:
I. INCOME TAX
SINGLE PERSONS
|
(1) |
(2) |
(3) |
(4) |
||||||||||
|
INCOME (Earned) |
1938-39 INCOME TAX RATES |
INCOME TAX under proposals outlined in par. 21 of Income Tax (Pr. 5276) |
INCOME TAX LIABILITY AS PERCENTAGE OF INCOME |
||||||||||
|
(a) |
(b) |
(a) |
(b) |
(a) |
(b) |
(a) |
(b) |
||||||
|
1938-39 Income |
*Equivalent 1959-60 Income |
1938-39 Actual liability |
*Equivalent 1959-60 liability |
Actual liability on Income in Col. 1(b) |
Percentage increase of Col. 3(a) in relation to Col. 2(b) |
1938-39 Col. 2(a) and 1(a) |
Under Proposals outlined in par. 21 of Income Tax (Pr. 5276): Col. 3(a) and 1(b) |
||||||
|
£ |
£ |
£ |
s. |
d. |
£ |
s. |
d. |
£ |
s. |
d. |
|||
|
100 |
265 |
Nil |
— |
— |
— |
— |
— |
||||||
|
200 |
530 |
4 |
13 |
9 |
12 |
8 |
3 |
57 |
4 |
6 |
361 |
2.3 |
10.8 |
|
300 |
794 |
16 |
17 |
6 |
44 |
13 |
8 |
126 |
10 |
6 |
183 |
5.6 |
15.9 |
|
400 |
1059 |
35 |
12 |
6 |
94 |
6 |
8 |
196 |
1 |
9 |
108 |
8.9 |
18.5 |
|
500 |
1324 |
55 |
2 |
6 |
145 |
19 |
5 |
265 |
13 |
0 |
82 |
11.0 |
20.1 |
|
600 |
1589 |
75 |
7 |
6 |
199 |
11 |
10 |
335 |
4 |
3 |
68 |
12.6 |
21.1 |
|
700 |
1854 |
95 |
12 |
6 |
253 |
4 |
3 |
409 |
10 |
0 |
62 |
13.7 |
22.1 |
|
800 |
2118 |
115 |
17 |
6 |
306 |
16 |
8 |
501 |
18 |
0 |
64 |
14.5 |
23.7 |
|
900 |
2383 |
136 |
2 |
6 |
360 |
9 |
2 |
594 |
13 |
0 |
65 |
15.1 |
25.0 |
|
1,000 |
2648 |
156 |
7 |
6 |
414 |
1 |
7 |
687 |
8 |
0 |
66 |
15.6 |
26.0 |
MARRIED PERSONS
|
(1) |
(2) |
(3) |
(4) |
||||||||||
|
INCOME (Earned) |
1938-39 INCOME TAX RATES |
INCOME TAX under proposals outlined in par. 21 of Income Tax (Pr. 5276) |
INCOME TAX LIABILITY AS PERCENTAGE OF INCOME |
||||||||||
|
(a) |
(b) |
(a) |
(b) |
(a) |
(b) |
(a) |
(b) |
||||||
|
1938-39 Income |
*Equivalent 1959-60 Income |
1938-39 Actual liability |
*Equivalent 1959-60 liability |
Actual liability on Income in Col. 1(b) |
Percentage increase of Col. 3(a) in relation to Col. 2(b) |
1938-39 Col. 2(a) and 1(a) |
Under Proposals outlined in par. 21 of Income Tax (Pr. 5276): Col. 3(a) and 1(b) |
||||||
|
£ |
£ |
£ |
s. |
d. |
£ |
s. |
d. |
£ |
s. |
d. |
|||
|
100 |
265 |
Nil |
— |
— |
— |
— |
— |
||||||
|
200 |
530 |
Nil |
— |
1 |
4 |
6 |
— |
— |
0.2 |
||||
|
300 |
794 |
2 |
16 |
3 |
7 |
8 |
11 |
70 |
10 |
6 |
847 |
0.9 |
8.9 |
|
400 |
1,059 |
13 |
2 |
6 |
34 |
15 |
1 |
140 |
1 |
9 |
303 |
3.3 |
13.2 |
|
500 |
1,324 |
32 |
12 |
6 |
86 |
7 |
10 |
209 |
13 |
0 |
143 |
6.5 |
15.8 |
|
600 |
1,589 |
52 |
17 |
6 |
140 |
0 |
3 |
279 |
4 |
3 |
99 |
8.8 |
17.6 |
|
700 |
1,854 |
73 |
2 |
6 |
193 |
12 |
8 |
353 |
10 |
0 |
83 |
10.4 |
19.1 |
|
800 |
2,118 |
93 |
7 |
6 |
247 |
5 |
1 |
445 |
18 |
0 |
80 |
11.7 |
21.1 |
|
900 |
2,383 |
113 |
12 |
6 |
300 |
17 |
6 |
538 |
13 |
0 |
79 |
12.6 |
22.6 |
|
1,000 |
2,648 |
133 |
17 |
6 |
354 |
10 |
0 |
631 |
8 |
0 |
78 |
13.4 |
23.8 |
*The "equivalent 1959-60" figures represent the 1938-39 figures adjusted by reference to the Consumer Price Index at mid-August, 1959.
MARRIED PERSONS WITH TWO CHILDREN
|
(1) |
(2) |
(3) |
(4) |
||||||||||
|
INCOME (Earned) |
1938-39 INCOME TAX RATES |
INCOME TAX under proposals outlined in par. 21 of Income Tax (Pr. 5276) |
INCOME TAX LIABILITY AS PERCENTAGE OF INCOME |
||||||||||
|
(a) |
(b) |
(a) |
(b) |
(a) |
(b) |
(a) |
(b) |
||||||
|
1938-39 Income |
†Equivalent 1959-60 Income |
1938-39 Actual liability |
†Equivalent 1959-60 liability |
Actual liability on Income in Col. 1(b) |
Percentage increase of Col. 3(a) in relation to Col. 2(b) |
1938-39 Col. 2(a) and 1(a) |
Under Proposals outlined in par. 21 of Income Tax (Pr. 5276): Col. 3(a) and 1 (b) |
||||||
|
£ |
£ |
£ |
s. |
d. |
£ |
s. |
d. |
£ |
s. |
d. |
|||
|
100 |
265 |
Nil |
— |
— |
— |
— |
— |
||||||
|
200 |
530 |
Nil |
— |
— |
— |
— |
— |
||||||
|
300 |
794 |
Nil |
— |
0 |
10 |
6 |
— |
— |
0.01 |
||||
|
400 |
1,059 |
Nil |
— |
70 |
1 |
9 |
— |
— |
6.6 |
||||
|
500 |
1,324 |
8 |
8 |
9 |
22 |
6 |
10 |
139 |
13 |
0 |
525 |
1.7 |
10.5 |
|
600 |
1,589 |
25 |
17 |
6 |
68 |
10 |
4 |
209 |
4 |
3 |
205 |
4.3 |
13.2 |
|
700 |
1,854 |
46 |
2 |
6 |
122 |
2 |
9 |
283 |
10 |
0 |
132 |
6.6 |
15.3 |
|
800 |
2,118 |
66 |
7 |
6 |
175 |
15 |
2 |
375 |
18 |
0 |
114 |
8.3 |
17.7 |
|
900 |
2,383 |
86 |
12 |
6 |
229 |
7 |
7 |
468 |
13 |
0 |
104 |
9.6 |
19.7 |
|
1,000 |
2,648 |
106 |
17 |
6 |
283 |
0 |
1 |
561 |
8 |
0 |
98 |
10.7 |
21.2 |
†The "equivalent 1959-60" figures represent the 1938-39 figures adjusted by reference to the Consumer Price Index at mid-August, 1959.
II. EARNED INCOME.
POINTS AT WHICH LIABILITY TO INCOME TAX COMMENCES.
|
(a) |
(b) |
(c) |
||||
|
(See footnote to table.) |
||||||
|
1938/39 |
Under proposals outlined in par. 21 of Income Tax (Pr. 5276) |
Under proposals outlined in par. 21 of Income Tax (Pr. 5276) |
||||
|
£ |
£ |
£ |
£ |
s. |
d. |
|
|
Single persons |
150 |
312 |
392 |
21 |
0 |
0 |
|
Married couples without children |
270 |
525 |
705 |
47 |
3 |
3 |
|
Married couples with 1 child |
342 |
659 |
893 |
61 |
10 |
3 |
|
Married couples with 2 children |
414 |
792 |
1,081 |
75 |
17 |
3 |
|
Married couples with 3 children |
483 |
925 |
1,261 |
88 |
2 |
3 |
The figures shown under (a) represent the points of earned income at which liability to Income Tax commences in the case of persons in the categories specified. The figures at (b) represent the 1938/39 figures under (a) taken as at mid-November, 1938, and converted by reference to the Consumer Price Index at mid-August, 1959. The figures at (c) represent the Income Tax chargeable under the proposals outlined in Income Tax (Pr. 5276) on earned incomes of amounts as shown under (b).