Skip to main content

Income Tax

Volume 527: debated on Wednesday 19 May 1954

The text on this page has been created from Hansard archive content, it may contain typographical errors.

59.

asked the Secretary of State for the Colonies to publish a

£500£1,000£2,000£5,000£10,000
£s.£s.£s.£s.£s.
Single2821121034001,605124,8497
Married, no children1155818252101,51824,76117
Married, one child25441222161,48824,73117
Married, two children376203111,47324,71617
Married, three children310194151,45824,70117
In accordance with the new taxation proposals introduced by the Minister for Finance in April, an additional surcharge of 75 cents on each £1 of chargeable income over £800 will be paid on all incomes for 1953 and subsequent years. Those with total incomes of more than £9,000 will pay the surcharge at the appropriate rate for that figure. In addition there is a personal tax at £3 per annum which is now to be doubled, and a new rate of tax at £10 is to be introduced on incomes exceeding £200 per annum.